Duke, unfortunately for Solv, that the bankruptcy judge would not hold up approval of the reorganization because of the SEC lawsuit means little, if anything, about the merits (or lack thereof) of the SEC lawsuit. Additionally, I doubt (but am not certain) that approval of the reorganization plan will have any effect on the SEC's ability to potentially extract a fine from Solv in the lawsuit and it will have no effect as the SEC suit relates to JR and HC. In this context, I doubt that the judge had any magic or additional substanative information that influenced the decision
I doubt seriously that the bankruptcy judge's ruling had much of anything to do with the merits of the SEC lawsuit. It was probably based on procedural and standing requirements.
It is certainly better for Solv shareholders that the company is coming out of bankruptcy...it is unfortunate (for the shareholders) that there are still legal clouds hanging over the company -- even assuming that there were no factual or business clouds, which, IMO, will continue to exist unless and until Solv begins to generate revenue and earnings.
On a slightly different note, has anyone else noticed that it seems that HC and not JR has been making what few public statements there have been?
Troy
PS - this thread has certainly not lost any of its er, flavor lately....most of the time I read it when I am in the mood to see who is fighting with and picking at who....i.e., late night when serious stuff just wouldn't sink in.....:) |
