The Law

" Got a lawyer on board Dan in west orange New Jersey hi Dan welcome your on the -- old joke how -- what kind of great you know I get in bankruptcy class today. What should be read in Lebanon in other words I got -- else. Okay you looks at him."

" The corporate secretary of the electric total output would that are. You shell access. Three clear of -- and interest -- two rings. Proceeds to pay creditors. It it is not a means it's not there certainly is true Bartley the actual priority will be actual power tools and -- okay. The senior creditors to get paid apple be fortunate when you get any little."

" That's not what happened here and what I would the reason why I brought that up is I was -- about various 363. Cases and and and instructions and I agree that the primary purposes of free and clear issue. Of the gasses to be sold and even then there's some danger but also it brought -- a number of things that I read Dan this business about. They're doing it for expediency is becoming more and more popular."

" What I think it's becoming that's going to be the big question this case is whether he can manipulate infection treat sick increased sale. -- at the actual program -- what seemed to have happened here is that you'll. Creditors are getting. -- you. Either kind of manipulate the value that people get based upon their position. Should you know you're selling the company and -- Against -- so what claim is that is that I think that they can run run. And exchange per share or exchange for some consideration -- but the company they're playing games with those numbers in order to to get the precision preached -- through I think the Supreme Court could have decided can you do -- the -- really know what to do it and run -- support article about that what could be -- attention -- objection. And I think that keeping it has -- it's not like this Tuesday that that's what I think it's war. But it's looking like that's what they're trying to use yet."

" So I saw you and I agreed that looks like the the the big test here is is really about this business of priority. And that's what's so important to. And it goes back to the rule of law we have to have the rule -- give -- all judgment because all these things are priced when you invest in something you large -- water. Given a price and -- in. You know in the case of Obama raid and everything else based -- com you're your position."

" In -- hugely important and it's really need to come out the right way if they don't. Do that it it it expects. All of you really are true it's a huge problem for investors -- a huge problem for sort are or are there are certain of the capital."

" I then I think so too and I. And imagine a -- if I was a bankruptcy lawyer I would have the fielding -- this thing is left of this it is right now."

" Yeah I think it is put it put investors -- an -- position because you know you think you have priority you think you're you have senior debt that you think you're secured creditor definitely find out that because of the politically expedient. The people want to allow a certain way -- I'll look it's it's a very very their preference to stand up fortunately it's -- Look with a lot more potential executed government is putting their hand into a lot more the manipulation of Mabel you know -- will be able to manipulate -- they want to do very prepared."

" I thought I was pretty this one case where private equity fund bought Polaroid for example and another one purchased. The USS -- of cable and wireless and that you start going down. Alamo rental car national rental car all of these were 363 deals. By private equity funds but but in those cases it wasn't that seemed to be this issue about priorities seem to be about speed."

" What we're doing the putting into -- forget blog involve them -- you can which has had actually except that terrific decreased sales."

" And -- and the public opinion balking at the to the dentist and the harsh but they paid which can -- to pay the creditors whose --"

" Overall perfect and that's a superb example where you can go greased the skids and make it happen quickly them. Everybody gets satisfied."

" Writing in the Chrysler case that planned to do market should be doing Richard something that's not built to do it and -- the Supreme Court really need to kind of get all the."

" Problem is that the -- the political spectrum so and so this is moving in the political the with the White House wants it to go socially judges."

" Need to have about well need to be able to work up to the."

" I hope so. I really hope so for the rule of law for the rule of investing. For Ressa reports it is now she doesn't say anything by 4 o'clock then it's -- there's no further appeals sounds like. -- I'm mature rather than there there at the the rest of Supreme Court Ruth Bader Ginsburg is the one who's the -- the emergency judge on this one so. Well listen Dan -- great information thank you for your call will take a short break and come right back. US auto industry -- this sick Christ will be an Italian company's Saturn. Trying means. In June. Resilient. Kate --"