Quote Originally Posted by compn View Post
kevin orr is a bankruptcy guy
kevin orr's firm is a bankruptcy firm

we knew this on day one. i'm surprised they didnt say the b-word until now.
I'm confused on this, too. Orr threatened bankruptcy in his first public address and first media interviews. He mentioned it several times through the process, even stating that the week of July 15 was going to be the week when the decision was finally made.

The idea was to see if they could settle up [[or partially settle up) as much of a deal as possible to minimize the time and expense in bankruptcy court which would be inevitable if too many creditors rejected the deal.

What I think is fascinating is the number of creditors who haven't outright rejected the offer. They are doing and saying a lot of things: filing lawsuits, writing articles stating that the offers are "unfair", hosting press conferences. But the one thing all the creditors are afraid to do is say, "no deal".

It does have me wonder what is actually going on behind the scenes there.