Laserfiche WebLink
41 <br /> Stephen W. Seifert <br /> February 24 , 1993 <br /> Page 3 <br /> Resources renegotiates the Redstone contract in a manner which <br /> permits M&E to go forward with equipment sales, subject to a sale <br /> of some lesser package of real and personal property to Redstone. <br /> Assuming that nothing comes of the Redstone contract <br /> and that reclamation of the mine site remains the responsibility <br /> of Resources, we need to resume discussions about the disposition <br /> of funds being realized from the piecemeal liquidation. <br /> Resources, in conjunction with the MLRD, needs to fine tune the <br /> estimate of reclamation expenses which will have to be borne by <br /> the bankruptcy estate, and Sanwa and the Creditors , Committee <br /> need to determine whether they can reach an accommodation over <br /> the remaining proceeds which would represent an acceptable <br /> alternative to foreclosure. If an accommodation can be reached, <br /> Resources then would prepare a liquidating plan in consultation <br /> with each of you and we would wind up the Chapter 11 case. <br /> Very truly yours, <br /> J ?sB,. Holden <br /> JBH:ka J <br /> Enclosures <br /> cc: Bob Delaney <br />