posted June 15, 2009): What is the status of the Trustee’s efforts to pursue the Transaction with the Investor and/or an alternative investor?
As represented to the Court at hearings on May 19 and 26, 2009, and as discussed above in the answer to Question 45, the Estate’s investment banker SCS believes that there are alternative prospects for investors who might independently and/or in conjunction with the Investor engage in the Transaction or perhaps an alternative transaction. Based upon SCS’s efforts and the possibility of a future closing of the Transaction with the Investor and/or alternative investors, and in order to maximize the Trustee’s ability to generate value for the Estate from the Transaction, the Trustee has also sought and obtained authority to extend the Effective Date Deadline through and including June 30, 2009, and to seek further extensions of the Effective Date Deadline for one or more additional periods upon further motion and notice by the Trustee to all known creditors, equity security holders, and other parties in interest, providing such parties an opportunity to object to any proposed further exte
Related Questions
- : What additional information is the Trustee in a position to disclose about the status of the investor and the proposed transaction that is intended to serve as a basis for the Chapter 11 plan?
- posted June 15, 2009): What is the status of the Trustee’s efforts to pursue the Transaction with the Investor and/or an alternative investor?
- posted September 17, 2009): What is the current status of the Trustees efforts to pursue a transaction with an alternative investor?
