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finbar99

06/19/13 8:10 AM

#7357 RE: TheProfit #7356

I was going back through previous BRP notices. Looking back now, the delay seems to have originated around the time the BRP was set to issue the voting universe. Per section 145, concurrent creditors (s Africa term for unsecureds) only get votes to the extent of their likely recovery in liquidation. This, rather than delays in the bid solicitation process, appears to explain the two week delay in seeing the plan. I'd say someone got an unpleasant surprise when they saw the voting universe and the only logical party would be the unsecureds. Unfortunately I will be camping with my daughters starting Thursday for a week and will have limited Internet access......yes I know I will be greatly missed on here when all the hoopla starts.