Hese's some info I found on yahoo. Sounds really interesting, not sure if its true.
Yesterdays action:
As part of the collateral release order, the attorneys for the holding companies and Ichan/Westgates' attorneys received
a total 2.5mm shares to cover their fees (because there is no money in the estate to pay them) - at the hearing yesterday
morning they announced that they had recieved 1.6mm shares so far and were selling them at that moment, and that by
the end of the day they would be done.
The judge also said he would probably sign an order authorizing additional shares to be distributed in the next few
days.
On the 12.5mm shares - as a result of a screw up with DTC (the central depository for "street name" stock the 12.5mm
shares wont get to brokers until at the earliest tommorow, maybe next week.
Also at the hearing, the equity committe asked for a delay of the confirmation hearing, the judge said absolutley not and
the Trustee said he supports a confirmation hearing on May 4/5.
The bond trustee and Ichans laywers also said in court when pleading for more colateral to be released that "the equity
holders/bondholders are getting little or nothing in this case so let them at least be able to sell their collateral" Judge said
he realized
that, and would work to release more, said he was happy that case was finaly about to conclude! - Congradulated Toy
Biz, The
Unsecured Creditors, and the Lenders on the work they've done so far to move this forward and told them he wants to
stick to a strict
schedule on May 4-5 to confirm this.
Also Liquori was asked what was the maximum value he would assign to the Spiderman movie rights, he said
$10mm-$20mm.
Conclusion - NO SHORTING YESTERDAY - OBVIOUS LONG SELLING!! - By the way, even a rank amateur
would know that shorts cannot drive a stock down because you need upticks to short!!
Also, if your personal savior Carl, was going to bail the equity out, why are his laywers selling stock down to 5/16?
Spookie - If 1.6mm had this effect, what do u think 12.5mm+ will do?
if "The Trustee is working on an equitable settlement despite some negative thoughts. The TBZ Plan will be defeated! "
why does he support confirmation on May 4?
When the transcript of yesterdays hearing becomes available I will post the excerpts!
A very jet-lagged BB!!
(sorry for the lack of eloquence!)
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