JC i'm not sure Ploutus and I are on the same page but I did agree that the bondholders would have ended up with everything had their bid been approved. Secured is a funny word that reminds me of lifetime warranty. Neither is worth the paper they are written on when you need it.
I asked Ploutus about the rogue bondholders. Do you think that if the bondholders had bargained in good faith at the start rather than trying to take everything things would be different now?
From the documents I've read I take Newbould's decision and comments as a positive. I didn't see anywhere that limitations were put on the ad hoc committee. It seems like the only difference between approving the motion and what Newbould chose to do is that it may mean Gowlings will need to go before Newbould more often.
I wonder how Tenor interpts this ruling? With an ad hoc committee being allowed by Newbould like Tenor and Kry wanted perhaps they will cooperate to move things forward quickly.
I can't think of any reason for not cooperatings but hey what do I know.
JJ
