I've marked both points of view and it may be diff

I've marked both points of view and it may be difficult to meet a late May agreement if the first date of mediation is May 5th with a judge, but I'll go on to say again, that I would be very surprised to see HJOE take this all the way to trial. Not because they don't have the wherewithal to see it through, but because I do not think KBM will see it through.

A judge is not going to sit idly by during mediation and tell the parties to get ready for trial. He or she will listen to argument and try to come up with a settlement. If that settlement is in the best interest of HJOE to get this by them and it meets their standards (no shares, acceptable interest rates etc), their tune will change very quickly about pilling up expensive legal fees.

If NY took the case on a contingency, perhaps they'll go a little harder as the risk to reward is greater with no payment to lawyers except for victory. Otherwise, a late May, mid-June wrap-up and settlement would not be a shocker.

From a business standpoint, it is better for HJOE to get on with the business of completing negotiations with other lenders, should they exist and move on to the more important matters of continuing brand expansion and filing financials without the risk of nasty conversions and stock death spirals.