Very good post and I concur. We also have no idea if KBM had a lawyer hired or a lawyer on their staff who charges them monthly/yearly for his services? If a lawyer is staffed whose to say those motions weren't priced into the suit on an ongoing basis? Whose also to say that the other lenders, seeing the results and having their own personal attorney's who they pay, won't go after HJOE with this precedence set.
Do I think it's great that KBM is out of the way? Absolutely. It's a burden off of HJOE's shoulders. Do I think this is the end of the debate with toxic debt? Not even close.
Is it a massive victory for the company? Depends on whose viewpoint you're looking at it from. If it's a shareholder who see's zeros in their account after a 10,000 investment, a massive victory is simply word salad. If it's looked at through the companies lens of one down, five to go (guessing there), then yes, it's a pretty big deal.
As far as I'm concerned, I'm still staring at a goose egg.
Hangover Joe's Holding Corporation (HJOE) Stock Research Links