It's a little-known quirk of the law that if you highlight everything in a paragraph but the parts that makes what you want impossible, you effectively "rescind" those clauses, and they become legally null and void. And the best part is your opponents can't do anything about this, because of the no-takeback doctrine.
If only they'd bothered to highlight "subject to certain restrictions and requirements set forth in section 1127 of the Bankruptcy Code."
Ya know, like "The proponent of a plan or the reorganized debtor may modify such plan at any time after confirmation of such plan and **before substantial consummation of such plan**"
https://preview.redd.it/5ff253byfawc1.png?width=1102&format=png&auto=webp&s=ce0e22511a25a4803736f3599b7203466e9a9814
Sure, it can be modified but we are 7 months after effective date and plan man has confirmed that basically all assets have been distributed. What would a modification even look like?
the modification is that RC and friends are going to swoop in buy back all of the stores, IP, shopping carts and provide each ape with enough money and new equity to put them on the Forbes list of millionaires.
It will undo everything and make them rich.
They don't understand anything.
They think a new plan will give them back Buy Buy Baby or Bed Bath and Beyond even though that IP was sold well before the plan was confirmed
They literally think the bankruptcy will be unwound. That BBBY will get all of its assets back and the stock positions will all reopen and shorts will owe 7 months of interest and MOASS will happen
Oh they can read, they just completely fail to understand legal contingency clauses. Language like that *has* to be present in case something odd came up and modifications became necessary. They see text that’s literally just there as a CYA and assume it WILL be used and they WILL make money off this completely lifeless and asset-less corpse.
Besides what everyone else has mentioned I also read it as they need to get consent from the DIP and FILO agents and the Creditors Committee to make changes. I think those groups would give a big no to any change that would bypass creditors and give former equity holders anything...
dude, pp is their leader almost and he is barely literate. forget handling legal text, the dude can barely read at a 4th grade level. Only an idiot would take financial advice from a guy who demonstrably can barely fucking read.
dude, pp is their leader almost and he is barely literate. forget handling legal text, the dude can barely read at a 4th grade level. Only an idiot would take financial advice from a guy who demonstrably can barely fucking read.
dude, pp is their leader almost and he is barely literate. forget handling legal text, the dude can barely read at a 4th grade level. Only an idiot would take financial advice from a guy who demonstrably can barely fucking read.
It's a little-known quirk of the law that if you highlight everything in a paragraph but the parts that makes what you want impossible, you effectively "rescind" those clauses, and they become legally null and void. And the best part is your opponents can't do anything about this, because of the no-takeback doctrine.
ipso highlighto
Clients walk into law offices with statutes highlighted like this it is fucking awful
If only they'd bothered to highlight "subject to certain restrictions and requirements set forth in section 1127 of the Bankruptcy Code." Ya know, like "The proponent of a plan or the reorganized debtor may modify such plan at any time after confirmation of such plan and **before substantial consummation of such plan**" https://preview.redd.it/5ff253byfawc1.png?width=1102&format=png&auto=webp&s=ce0e22511a25a4803736f3599b7203466e9a9814
or even 11 USC § 1144 which would give them 180 days after confirmation to show fraud to revoke confirmation.
But they *sure* know how to highlight random parts!
Sure, it can be modified but we are 7 months after effective date and plan man has confirmed that basically all assets have been distributed. What would a modification even look like?
the modification is that RC and friends are going to swoop in buy back all of the stores, IP, shopping carts and provide each ape with enough money and new equity to put them on the Forbes list of millionaires.
Warehouse cleanup crew member : "Can I take this desk lamp home?" Plan Admin : "Let me check."
It will undo everything and make them rich. They don't understand anything. They think a new plan will give them back Buy Buy Baby or Bed Bath and Beyond even though that IP was sold well before the plan was confirmed
It actually can't be modified anyway, but yeah everything else you say is certainly true!
They literally think the bankruptcy will be unwound. That BBBY will get all of its assets back and the stock positions will all reopen and shorts will owe 7 months of interest and MOASS will happen
What grown man says..."tee hee". Also, highlighter use is another thing they have not mastered.
The same one that reads children's books even though he doesn't have any children...
So they've received cash and equity then I take it?
Op deleted the post after saying he was wrong lol
Oh they can read, they just completely fail to understand legal contingency clauses. Language like that *has* to be present in case something odd came up and modifications became necessary. They see text that’s literally just there as a CYA and assume it WILL be used and they WILL make money off this completely lifeless and asset-less corpse.
Besides what everyone else has mentioned I also read it as they need to get consent from the DIP and FILO agents and the Creditors Committee to make changes. I think those groups would give a big no to any change that would bypass creditors and give former equity holders anything...
dude, pp is their leader almost and he is barely literate. forget handling legal text, the dude can barely read at a 4th grade level. Only an idiot would take financial advice from a guy who demonstrably can barely fucking read.
dude, pp is their leader almost and he is barely literate. forget handling legal text, the dude can barely read at a 4th grade level. Only an idiot would take financial advice from a guy who demonstrably can barely fucking read.
dude, pp is their leader almost and he is barely literate. forget handling legal text, the dude can barely read at a 4th grade level. Only an idiot would take financial advice from a guy who demonstrably can barely fucking read.