On 9/24/2002 9:44:22 PM chipmunn wrote:
Under the bankruptcy laws, companies in Chapter 11 have the sole right for the first 120 days of the case to advance a recovery plan free from outside interference.
Interesting. So what happens after 120 days?
Moreover, one might argue that Alabama's bid is more like triple that of TPG, since they were (or perhaps still are) owned like 300 million, right?
Would TPG probably be better in terms of a going concern? Perhaps, but one might make the case that the good ole' boys are owed a shot.
(FWIW, I hope that TPG gets the nod, but it would be nice to see them kicking in more than the price of a couple of jumbos for the rights....)