Replies to post #445 on ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

[56Chevy]

Approval or denial of the sale wasn't set-up on a "vote" type system. The Court and the Debtor have the ultimate determining influence.

This was from the Order approving bid procedures etc as an example from Doc 1272.

15. Subject to the final determination of this Court, the Debtor (in consultation with counsel to the DIP Lenders, the DIP Agent, the Creditors’ Committee, the Equity Committee, the Prepetition Second Lien Trustee and the Ad Hoc Committee of Second Lien Notes) is authorized to determine, in its business judgment and pursuant to the Bidding Procedures, the highest or otherwise best Bid(s) and the Successful Bidder(s) or Backup Successful Bidder(s).

You'll find this language scattered throughout all the misc sale related docs. I know there was a specific doc that expanded the list of who would be included back in December because some of the other interested parties, beside the Debtor and the DIP lender, felt they needed a voice.