Replies to post #807 on School Specialty, Inc (fka SCHSQ)

[Liam_S]

With all of that stuff I'm reading in the note holders' objection, I think it's time someone requested the judge to appoint an examiner. The punch line of their supplementary objection was the mention that the reason class 7 accepted is because they're mainly composed of the DIP lenders who hopped on to the secured class when bayside's post petition loan got refinanced. They're requesting that the details of the votes be made available for inspection. The debtor had argued that since a lower class (class 7) accepted the deal, the rejection by class 5 should be over ruled. If it is indeed the case that the class 7 voters were mainly holders of the DIP loan, then this whole voting process was a sham.

We need an examiner at this point to put a stop to this nonsense.