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Non-Tech : Plasticon: Fact or Fiction - Discuss it here
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From: scion8/7/2007 4:15:35 AM
   of 191
 
Do you know what the one class *below* general unsecured creditor is? That's right: shareholder! They just cheered a ruling that demotes their standing even further. Too funny!

To: sandintheshorts who wrote (10864) 8/6/2007 7:40:09 PM
From: Jeffrey S. Mitchell of 10865

Want a good laugh? Today Plasticon's "Motion to Assume Leases/Executory Contracts" was sustained. Murphy's objection to it had been "If the unexpired leases of personal property are assumed at this time and the Chapter 11 reorganization case is later converted to a Chapter 7 liquidation case, the assumption will have an adverse impact on the creditors holding general unsecured claims." Do you know what the one class *below* general unsecured creditor is? That's right: shareholder! They just cheered a ruling that demotes their standing even further. Too funny!

- Jeff

Message 23768298
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