That may well be something that his creditors stipulate for them to acquiesce to the deal. If he owes all this money [he does] then I think it would be unfaor for any Court to say its OK Terry for you to keep hemorrhaging<?:namespace prefix = o ns = "urn:schemas-microsoft-com🏢office" /><o:p></o:p> money into the Phoenix when you should be spending that money on repaying your debts. I might not understand how this all works but I'd be surprised if this type of deal could go ahead without a majority of creditors saying "yes".
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Posted August 29, 2011 09:26 · last edited March 18, 2021 07:33
That may well be something that his creditors stipulate for them to acquiesce to the deal. If he owes all this money [he does] then I think it would be unfaor for any Court to say its OK Terry for you to keep hemorrhaging money into the Phoenix when you should be spending that money on repaying your debts. I might not understand how this all works but I'd be surprised if this type of deal could go ahead without a majority of creditors saying "yes".