posted January 19, 2010): Why has the Trustee sought a further extension of the December 31, 2009 Effective Date Deadline?
Although presently the Trustee does not have a commitment from any party interested in entering into a transaction similar to the Transaction to be implemented under the Plan, the Trustee and his professionals, including SCS (the Estate’s investment banker), continue to pursue potential investors. The Trustee is aware of at least four potential qualified and substantial institutional and/or corporate investors that continue to have dialogue with SCS about the Estate, the Plan and a potential transaction.
