All is fair in love and war but it is impossible to avoid the impression that Judge Mary Walrath’s opinion could do a lot of mischief...
Quelle: odin post 165917 (all about alpha.com)
It remained very unclear which assets belonged to the holding company, WMI, and which had passed through this seizure-and-sale into the hands of JPM.
(very unclear?? bei W:O weiss längstens jeder bescheid^^)
The equity holders noted that bankruptcy law requires that a plan, to be confirmed, must be “proposed in good faith and not by any means forbidden by law,”
(haha dann wirds also NIE ein Plan geben. NIEEEEEE!!!! sauber)
the Modified Plan cannot be confirmed because it has been proposed in bad faith.”
(katschanga)
Precedents for disallowance on the ground of insider trading would seem to be scarce – though Walrath cites a U.S. Supreme Court decision in its support, the decision is an old one, preceding the existing statutory language. It is the 1939 case of Pepper v. Litton, where the high court said that one who is in a fiduciary position with regard to a corporation “cannot utilize his inside information and his strategic position for his own preferment.” That was one of a list of principles such a person cannot violate. When these principles are violated, the Pepper court continued, “equity will undo the wrong or intervene to prevent its consummation.”
(da muss mir jemand mal helfen bei übersetzung.... vor allem bei: “equity will undo the wrong or intervene to prevent its consummation.”) danke vorab
gruß
never