Replies to post #2664 on EVOQ Properties Inc.(fka EVOQ)

[Donny Brasco]

Taylor did a fantastic job on this and the judge was right on!

shareholders was the last thing on m,gmt mind, and courts well protected the shareholders and I wish this was the case more in corporate bks.

Is the company changing names soon? better question is, when are we going to see the meruelo signs go out?? he wasnt too popular in LA. Karma caught up very well here!!

[Enterprising Investor]

"Fair and equitable" requirement under § 1129(b).

The issue: Did Charlestown demonstrate that the $.35 price at which the Debtors' shareholders would be forced to sell up to 55 percent if their shares under the Charlestown Plan - and over their objection - meet the requirement for confirming a plan over a dissenting vote of a class of shareholders?

I will let the Court determine this answer.

However, I do not believe that $.35 or even $.45 can be deemed as "fair value". Tender offers place a ceiling on trading prices depending on the expected outcome. For example, once Legendary/EWB reached a settlement and it appeared that the Debtor Plan had the votes to win, the market price rose to $.62 on 2/07/11.