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MarketCaptain

03/13/13 11:01 AM

#54817 RE: MarketCaptain #54816

The best news is that EVERY ASFX CREDITOR except for the guy they were paying to take them through Chapter 11 bankruptcy has backed ASFX's petition to enter Chapter 7!

PACER has a document dated 12/04/2012 showing dozens and dozens of creditors petitioning the court on behalf of ASFX.

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makeamint2

03/13/13 7:09 PM

#54820 RE: MarketCaptain #54816

Thank you Capt. I completely agree re the actions of Roth and Faber. While some posters here at the time were touting Brooklands as a simple name change and that would also be a GREAT THING the subsequent legal crossfire certainly debunked tyhat theory.

However I dont agree with your cocnclusions. This action was as I understand, part of the effort to convert to a Ch 11 reorg via an adversarial proceedure. That action was challenged when by the Court appointed trustee demanded pmt.

Once that occured the petitioner in the person of Howard Taylor withdrew his motion to convert the CH 11 petition.

In my opinion counsel for Brooklands was not being paid by Roth, Faber et al. and like the courted appointed Trustee opposed the Motion to convert to CH 11 for lack of payment, they withdrew they representation of Brooklands.

Where it stands now is that ASFX is in an involuntary CH 7 petition.
If you can provide a link I can review the file again and perhaps agree with some or all of your opinions or perhaps point out specific elements that support my theory.

Thanks for a civil and thoughtful response