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The Committee Transcript

The Committee Transcript

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Published by Paula Rush
Full transcript of successful hearing on motion for a homeowner committee. Paula Rush was nominated by Sr. Legal Counsel for AARP in Washington DC Rawle Andrews and elected by several attorneys to serve as Chairperson of that committee.
Full transcript of successful hearing on motion for a homeowner committee. Paula Rush was nominated by Sr. Legal Counsel for AARP in Washington DC Rawle Andrews and elected by several attorneys to serve as Chairperson of that committee.

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Categories:Types, Business/Law
Published by: Paula Rush on Nov 01, 2012
Copyright:Attribution Non-commercial

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11/01/2012

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UNITED STATES BANKRUPTCY COURTDISTRICT OF DELAWAREIN RE: .Chapter 11.AMERICAN HOME MORTGAGE .Case No. 07-11047(CSS)HOLDINGS, INC., a Delaware.corporation,
et al.,
..Oct. 8, 2008 (9:42 a.m.)Debtors..(Wilmington)TRANSCRIPT OF PROCEEDINGSBEFORE THE HONORABLE CHRISTOPHER S. SONTCHIUNITED STATES BANKRUPTCY COURT JUDGEProceedings recorded by electronic sound recording;transcript produced by transcription service.
 
2THE CLERK: All rise.1THE COURT: Please be seated.2MR. BRADY: Good morning, Your Honor.3THE COURT: Good morning.4MR. BRADY: Robert Brady -5THE COURT: Before we get started, we will have to6take what I hope will be a very, very short break, 10 - 10:157to deal with my 10 o’clock which should be resolved, but go8ahead.9MR. BRADY: Very well, Your Honor. Let me just10begin, Your Honor, by apologizing for the confusion on the11start time of today’s hearing. Our original agenda said129:30. I looked back at my notes from the teleconference13which reflected 9. We tried to file an amended agenda, but14it did create confusion, but I think by starting later it’s15always better than starting earlier.16THE COURT: Right, well, I thought we moved it to179:30 to accommodate the New York attorneys, but I don’t18actually recall exactly.19MR. BRADY: With that, Your Honor, I believe first20on the agenda today is the motion for the formation of a21Borrower Committee so I yield to Mr. McCauley.22THE COURT: Okay, thank you. Mr. McCauley, good23morning.24MR. McCAULEY: Good morning, Your Honor. Thomas25
 
3McCauley on behalf of 11 different individual borrowers in1this case. I’m here with Stephen Weisbrod and, Your Honor,2we’ve divided the argument - effectively the parties agree3that there’s effectively a two-part analysis, one is the4statutory requirement of adequate representation or lack5thereof, and then second is the discretionary factors that6the Court might consider in addressing whether to appoint a7committee, and Mr. Weisbrod’s going to take the first part,8if that’s okay.9THE COURT: Yes, fine, thank you. Are we going to10have evidence?11MR. WEISBROD: There will not be evidence, Your12Honor.13THE COURT: Okay, thank you.14MR. WEISBROD: Thank you for having me this morning,15Your Honor.16THE COURT: Good morning.17MR. WEISBROD: Stephen Weisbrod on behalf of the18borrowers from Gilbert Randolph LLP. I’m also here with Ms.19Paula Rush who is represented on this matter but not on the20disclosure statement and Hunter Winstead who is an associate21with my firm. We’re here this morning because borrowers’22interests in estate property have not been adequately23represented. That’s reflected in the plan, in the disclosure24statement, and in the way that the parties involved in the25

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