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irishintelligence

05/17/11 12:16 PM

#11656 RE: Bluzie2 #11651

I think this statement (below) is interesting.

First (below) they looked at the tax attributes and decided it would be best to forgo a possible reorganization.

Now we have a reorganization with no discussion of tax attributes?


This has Six Flags written all over it unless we have Mr. Big(s) or the NOLs are significantly higher with Commons coming along for the ride.

Errett is right...just stop thinking about it and wait...





7. Since that time, Tricadia has had extensive discussions with the professionals for
both the Debtor and Committee. Among other things, the parties discussed plan options,
including with respect to the decision reflected in the Existing Plan to forego a possible
reorganization to take advantage of the Debtor's substantial tax attributes. Based on those
discussions (which addressed principally the ability to create value based upon those tax
attributes) Tricadia agreed that the existing "liquidating plan" structure was in the best interest of
all creditors. As such, Tricadia confirmed to the Debtor and the Committee that with a relatively
small number of modifications (the “Proposed Modifications”) to the Existing Plan (as modified
by the Proposed Modifications, the "Modified Plan"), Tricadia would be prepared to change its
vote to accept the Modified Plan. The most significant of the potential modifications to the
Existing Plan is the proposed appointment of Mr. Kenneth Tepper as Plan Administrator.