hslightnin,

MAG's full financials don't have to be divulged until the later of March 5th or five days prior to the Creditor's Meeting. That meeting was scheduled to commence yesterday. There should be some information soon resulting from that. MAG did submit a MOR (Monthly Operation Report) on Feb. 24th (See post #459).

As far as the reorganization plan goes, only MAG can file a plan of reorganization prior to May 5th (120 days from filing). This exclusive period can be extended by the Judge for up to 18 months.

The submitted plan has until July 4th (180 days from filing) to be accepted. This acceptance date can be extended up to 20 months or reduced by the Judge.

If MAG doesn't file a plan and or obtain acceptance by these dates then other creditors can submit their plans.

Most of these preliminary court dates get extended. Due to the complexity of this case I'm sure it will be stretched well into the summer.

A case management conference is scheduled for April 15th, 2010. Barring a settlement, the court dates of the Delta cases aren't until April 20th in Georgia ("ERJ Litigation") and July 12th in New York ("MFN Litigation").

winglet