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1993-12-13_GENERAL DOCUMENTS - C1981017
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1993-12-13_GENERAL DOCUMENTS - C1981017
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Last modified
1/31/2021 10:23:34 AM
Creation date
4/30/2012 10:58:14 AM
Metadata
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Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
12/13/1993
Doc Name
Case # 92 11658 PAC
From
US District Court
To
DMG
Permit Index Doc Type
General Correspondence
Media Type
D
Archive
No
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DRMS Re-OCR
Description:
Signifies Re-OCR Process Performed
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complete reclamation. Thus, the Division must look to the indi- <br /> viduals and Minerals to recover the full amount needed for recla- <br /> mation. <br /> 5. The debtor has an interest and an obligation to its <br /> creditors to seek money from other sources to meet its recla- <br /> mation obligation. Through this means, the debtor potentially <br /> makes funds available to be disbursed to its creditors since the <br /> money for reclamation will come from a source other than the es- <br /> tate. Accordingly, the debtor should be supportive of the Divi- <br /> sion's action against the individuals and Minerals, despite the <br /> fact that these entities have been intimately linked to the debt- <br /> or corporation in the past. <br /> 6. The Division therefore objects to the application for <br /> employment of special counsel to the extent that any funds will <br /> be paid out of the estate for special counsel to represent the <br /> debtor in, or oppose, the state court action. **1 <br /> 7 . Aside from its objection to the employment of special <br /> counsel as it relates to the state court litigation, the Division <br /> 1** It should be noted that as to the entire application to em- <br /> ploy special counsel, any legal advice or representation concern- <br /> ing the reclamation schedule and the debtor's obligation there- <br /> under will only be necessary for a limited period of time. It is <br /> undersigned counsel's understanding that the debtor will not <br /> ultimately perform the reclamation. Accordingly, special counsel <br /> will not be needed after any reclamation schedule is set and af- <br /> ter any plan of liquidation is confirmed. <br /> -3- <br />
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