I "almost" agree with that... however... "could be" ?
"Restructuring could be an alternative to dissolving"... is still wholly conditional.
The judge conditioned his ruling based on the law and the public interest... not based on resolving the disputes between the bickering disputants by picking a winner. We're in receivership because of the over-riding concern with the public interest issues, not because the judge couldn't being himself to make a decision in picking who was the lesser of evils.
There are lots of obvious reasons for that... all requiring me to agree with the result enabled in the decision we have... which is better for everyone than what they wanted... while also satisfying the requirement to do what's in the public interest.
It has been clearly enough demonstrated that none of the prior participants in management were close to being found "acceptable" by the court... as viable managers of a Delaware company. No way in hell is there ever going to be any reinstatement of CLYW... not because reinstatement of "a" company isn't possible... but because reinstatement of "THIS" company is not possible.
It would not be in the public interest... therefore, it isn't ever going to happen... so, possible or not, the judge will not allow it to happen... in this case.
Same issue exists in looking at buyers... They'll chose who wins the competition to buy the IP... based on a lot of factors, including "qualification" and what's in the public interest, and what isn't, as well as what's in the shareholders interest in maximizing the value. I don't think there's any conflict between those two things. Maybe equity will be a part of the deal done for the IP, but, it won't be equity in CLYW.
Perhaps you interpret the judge chiding Daic about being a "natural" bidder... differently than I do ? I think it was biting (and well earned) sarcasm... given Daic's prior acts HERE pretty clearly disqualify him as a likely winner.
I think that conditions what's likely to be approved by the court, too, when they do get to the point of making recommendations that require the judge approve them... and, until that happens, and the case is closed, there isn't much that is definitively "resolved"...
What I see is that Daic has 0.1% in 923... and some potential for retaining some other interests... which I can't see have been resolved, yet... including that no deal is a deal until the deal is done, and, here, no element in any deal is done until the judge says it is...
I don't see anyone quibbling over the 0.1%... or "potential"... ?
With success in the current suit... that alone will be worth a lot... and, as High Rider pointed out... success will probably mean it being worth more than Daic will ever be able to afford to buy, himself... assuming the court would allow him to win...
The opportunity CLYW had to get their shit together and make a real business that might actually work... expired the moment when Daic / Pattin chose to not hold the shareholders meeting... and to thumb their noses at the Delaware court instead. What was that... like, April of 2008 ? The rest, since then... was just killing time... while allowing them ample opportunity to provide everything the judge would ever need to see as irrefutable proof of that. What he saw, didn't confuse him.
CLYW was never going to succeed... for the obvious reasons in intent... and CLYW will never survive now as a result... but, it will likely be dramatically MORE successful as a result of being killed successfully and in proper fashion... than it ever could or would otherwise... while surviving... only led by idiots.
Oddly, I think it's likely that Daic will come out better by owning far less in future interest... that's worth far more... than if he'd been able to proceed in managing this effort as he would have without the oversight of the court.
Diac's MO has always been to take a dollar, reduce it's value to less than a dime, then steal it for a penny, and sell it for a nickel, while calling that success... and that's exactly what he tried doing here, too.
It's brain dead, but, the CLYW insiders have been whacking each other with that same stupid stick for so long... they don't know any other way.
The problem they've had with CLYW... was that the dollar kept appreciating faster over time, while they failed in every effort made in taking or destroying it... and no one else cooperated by failing in recognizing that fact of accelerating appreciation, like they were expected to...
And Daic will probably hate that... because he's not in it "just" for the $ win, but for the thrill of succeeding in screwing you over in order to get yours. In the result in the Delaware Court... he's had his ass handed to him... by a judge who seems not in the least bit confused by any of that...
CLYW is dead... and that's perfect... shareholders win.
Of course, you still have to win the current suit...
But, if you do, the $1 we started out with becomes $100... and Daic won't be getting yours for a penny...
Seems likely to me that those who "invested" by buying % interests in the patent directly from Daic... won't be coming out better than if they'd bought shares, instead.
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