Judge Kathleen Thompson will allow the OEC to file its own plan without having to wait for exclusivity to end for the Debtor.
Now, all we need are some members!
Friday, June 11, 2010
Exclusivity ends in regards to Charlestown/Hartland
Shareholders Charlestown Capital Advisors, LLC and Hartland Asset Management Corp. have the ability to file a competing plan.
Based on the discussion in the courtroom, it appears that the group has been working with both the OCC and several secured creditors for some time. It is my understanding that the plan will involve institutional investors providing both debt and equity capital.
Based on the discussion in the courtroom, it appears that the group has been working with both the OCC and several secured creditors for some time. It is my understanding that the plan will involve institutional investors providing both debt and equity capital.
OEC approved!
The United States Trustee, Jennifer L. Braun, stated in today's exclusivity hearing that an Official Equityholders Committee is now in the process of being formed. Braun stated that she is working with the SEC, the Debtor and others to obtain a shareholder list. Solicitation letters could be sent out next week.
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