ATPG Shareholders Message Board

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Gold/Mining/Energy : ATPG Shareholders

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From: Billy Bilgewasser	6/19/2013 5:20:54 AM
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I hope to see the May operating report before I write to the judge to the 363 sale. I don't want merely to repeat what others have written in their objections. I plan to state for three reasons for rejection of the APA: (1) the bulk sale of substantially all of ATP's assets was structurally flawed in the circumstances due to all the cross collateralization and, accordingly, it only makes sense to sell the assets in smaller bites while addressing/settling conflicting security interests, (2) the Company is cash-flow positive from operations (hopefully to be shown by the current results) and, accordingly, should propose a plan of reorganization without a sale of selected assets, and (3) the use of a Cayman Islands entity by a Swiss bank to hide income taxes reveals that the DIP lender really does expect a windfall profit from the transaction (otherwise they would us a U.S. entity and apply the anticipated loss to shelter other U.S. income taxes of the bank). It's a long shot, I recognize that. But still I'll write the letter. My question now (if I'm allowed to ask questions on a message board) is whether anybody has any other new issues that I can raise in my objection. Comments welcome. Constructive criticism only, please. Thanks.

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