Re: Arrangement / Compromise Disclosure?
posted on
Sep 07, 2012 03:13PM
I agree if a plan of compromise can not be reach the judge may continue the stay. The goal is to emerge from CCCA and a plan of comprimise must be reached to emerge. if cry plays the arb card without negotiating in good faith for a plan of comprimise they would be in violation of CCCA rules. It wouldnt take much to play by the rules, just submit ideas and reject the creditors ideas and get the monitor to say you are trying your best. My feeling is this judge wants them to emerge and also get the noteholders other appeal dropped at the same time. My other guess is management wants to emerge only if for the sole purpose of having to raise funds down the road and give themselves more perks.