Expect a bankruptcy filing on Monday.
Archive for October, 2010
On Friday, creditors vote on a plan to send MGM into bankruptcy court, to be relieved of a crushing debt load, not to mention a management that offered spending solutions at sharp odds with desires of the lenders.
The article referenced inside also has a lot of detail on what’s been happening over the last several months as the lenders (and now Icahn) struggle for control. If this finally gets settled perhaps stability will allow management to consider options for new projects (e.g. Dead Like Me?)
* There is a possible stalemate – see inside