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Nassau bankruptcy converted to Chapter 11
- Thread starter OlderRadioGuy
- Start date
Looks like a favorable ruling for Nassau. I anticipated chapter 11 was the best way to go since there is still a good real money flow within the company. I know Goldman Sachs is not feeling very good about the ruling. I don't think Lou and Nassau liked the idea of putting Nassau up like a "stalking horse" for bidders. I am not sure if Goldman Sachs can or will appeal this ruling. Nevertheless, for now, a big win for Nassau Broadcasting.
Chapter 11 was what Goldman wanted in the first place...and gave Nassau time to do it.
Whatever ownership is in place will most likely be wiped out unless the current management pumps in a whole lot of dollars.
In any event, the practice of stalling has come to an end.
Whatever ownership is in place will most likely be wiped out unless the current management pumps in a whole lot of dollars.
In any event, the practice of stalling has come to an end.
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