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willi:
"That you Catz! I've been in the dumps today, and this is just what the doctor ordered:
THE COURT: Okay. Do you want to provide a status of
5 the plan process?
Thank you. Your Honor, when I stood before you, I believe it
8 was on May 24th, I was there to announce that we had -- we were
9 announcing a tentative settlement that had been reached among
10 the equity committee, the creditors' committee, the debtors and
11 what was referred to as AAOC or sometimes, in olden days, known
12 as the settlement noteholders.
13 Your Honor, I am pleased to report that all the
14 parties have been diligently working towards getting this
15 documented. However, in something as complex as it is,
16 unfortunately, it has taken slightly longer than we had
17 anticipated. And we had hoped to be before you today with the
18 seventh amended plan on file.
Clearly then, "the parties" are not still haggling over whether or not they agree to basic terms ... but rather that they are still attempting to "document" (i.e., put it all down on paper in a mutually agreeable manner).
Folks, this one paragraph says it all. "
slyone:
"Thank you. Your Honor, when I stood before you, I believe it
8 was on May 24th, I was there to announce that we had -- we were
9 announcing a tentative settlement that had been reached among
10 the equity committee, the creditors' committee, the debtors and
11 what was referred to as AAOC or sometimes, in olden days, known
12 as the settlement noteholders.
13 Your Honor, I am pleased to report that all the
14 parties have been diligently working towards getting this
15 documented. However, in something as complex as it is,
16 unfortunately, it has taken slightly longer than we had
17 anticipated. And we had hoped to be before you today with the
18 seventh amended plan on file. "
willi:"
It's over! A small army of stuffed-shirts are no doubt tinkering with language and scrurrying around to get sign-offs by their superiors; all of which is very time-consuming. But bottom-line ... it's over. "
slyone:
" Quote:A small army of stuffed-shirts
would mean leakages.....PPS shows that it may not be all good. "
willi:
"To slyone: your point is well-taken. However the reverse of that proved not to be true during the week leading up to March 12th of last year (i.e., there should have been a leak regarding the GSA, but there wasn't), nor to the negative results of the examiner's report (again, there should have been a leak, but there wasn't).
Every lawyer on earth knows the precise meaning of the phrase: "getting this documented", versus "getting this approved" or "getting this ok'ed".
POR7 is in the oven."
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