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Message: Re: Effective Date of BK Plan...
9
Sep 01, 2015 08:50AM
5
Sep 01, 2015 09:11AM

From the confirmed Plan of Reorganisation:

ā€œEffective Dateā€ means the later of (a) the first Business Day that is at least 30 days after the entry of the Confirmation Order and on which no stay of the Confirmation Order is in effect, including a stay pending appeal, or (b) the first Business Day on which the Reorganized Company has sufficient cash to make all payments required under the Plan on the Effective Date; provided, that notwithstanding any other provision of this Plan, the Effective Date shall not occur until and unless Plan proponents file with the Bankruptcy Court executed versions of the IP Owner Side Letters, referenced in Article XIV.G hereto and set forth on Exhibit ā€œDā€, for the benefit of all Licensees.

The IP Owner Side Letter was filed to the BK Court 8/27/2015 at 17:03, it was signed on 3/20/2014.

What happens with TPL`s money on effective date?

What, if TPL does not generate income, since Dominion is lacking on reverse engineering and PDS does not accept low ball licenses? (If Alliacense ever offered some)

Is it possible that TPL runs out of money and the TPL BK case Chapter 11 will be converted to Chapter 7..?

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