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Old 01-11-2011 | 10:17 PM
  #1406  
Releasemaster
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Joined: Apr 2008
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From: OCC/Dispatch
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More updates from the docket.

MAG appears to be pulling out all the stops in making a case for POR acceptance. Today signed statements by Mike Lotz and an executive with Imperial Capital vouching for the plan where filed as well as an edited POR claryfing stipulations to resolve many objections. Late tonight a settlement with GE, Wells Fargo and Polaris was posted with setteled amounts to get 12 ERJs and 22 CRJ 200s off MAGs books. That amount is roughly 40.7 million and agreements to not file claims or otherwise interupt the 700 and 900 issue.

The hearing on acceptance of the POR is scheduled for this Friday. One unresolved objection is that regarding the plan having owners of 5%< common shares having to sign an agreement surrendering their voting rights to the BoD.

Winglet, we have not heard from you in awhile. Do you have any commentary on these recent developments?
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