In fact, ZH is quite confident that Mr. Lauria is currently contemplating just what the best overtures to the Supreme Court should be for both Chrysler and GM. Whatever these are, the fireworks will hopefully be interesting: luckily Sotomayor is still not up and running.
As for the facts, Dealscape has a great interview with Jeff Marwil of Proskauer who lays it out straight:
"It's not a deal if it's only 20% of the bondholders agree, and it doesn't mean the plan will succeed. It just means the government has support now from some bondholders, and bankruptcy now seems like a foregone conclusion," Marwil explained.In other news, ZH has it Bowling Green spies reporting, and I hope to bring to our readers the moment when Gonzalez puts Peck to shame with the fastest steamrolling of the bankruptcy process in recorded history. Sphere: Related Content Print this post
"I think the greatest challenge will be doing it right the first time and emerging from bankruptcy poised for success. Who knows how long the bondholders will fight? This will be the biggest bankruptcy ever so there are a lot of issues to get resolved," he said.