Thanks again to the inscrutable blogging superstar behind REReno for the attached document and the willingness to provide their thoughts:
4 objections have been filed to this. Rough look is that RER would get about $2.5M from the sale and Barney gets $250,000.
So if RE Reno gets $2.5M and Barney gets $250k, does that mean that barney gets $2.75M? How much is left for the people who actually financed the deal? How does this connect to Walter’s BK filing, considering he personally guaranteed RER investors’ cash? Who is bad here? Barney? Walter? Kelly? Bruce? All of them?
What’s your analysis? Please share your insights after reading this document (Click here –>Settlement DOC 271).