What is Vendiku's 'reward' in this exercise..;??

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leopard

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What is Vendiku's 'reward' in this exercise..;??

posted on Nov 06, 2014 02:49PM

2.04.6 Mr. Venkidu shall receive on account of his Class 4 Allowed

secured Claim payment in full over time with interest at a rate reduced from the contractual 8%

to 7% as follows: Mr. Venkidu shall retain his lien against his collateral. After payment in full

to CCC, Mr. Venkidu shall receive 75% of the Quarterly Payment until Mr. Venkidu has been

paid in full. Until the payment in full of CCC and commencement of payments of 75% of NPO,

Mr. Venkidu shall receive monthly interest payments on his entire Allowed Claim at a rate of 7%

simple interest per year, to be paid from the remaining 25% of the Quarterly Payment. Once Mr.

Venkidu is receiving 75% of the Quarterly Payment, the remaining 25% of the Quarterly

Payment shall be deposited into the Claims Trust Account and reserved to pay the claims of

Class 6 unsecured creditors under the Plan. Mr. Venkidu’s lien shall remain on said funds until

he has been paid in full.

" By voting in favor of the Plan, Mr. Venkidu consents explicitly to the payment of the aforementioned 25% of the Quarterly Payment to general unsecured Class creditors before he has been paid in full".

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OF course the aformentioned arrangement is from Leckrone's one half of the MMP license funds... (WE hope)...