$JCP FAM Recap: we went from "going concern sale" to 363 Asset Purchase to a combo, why? SPG backed out of GFO leading to UC 363 asset purchase & then teamed with SPG = Stalking horse bidder. EC asks for Full EC & says can prove equity. JCP & UC object to motion for full EC. JCP Motion to extend exclusivity period stating "Going Concern transaction" Then News about AB/SBG/Brooks BO of or Takeover. Auction stopped Why? A Buyer desires those properties, AMZN was seen at Plano property for sale 5/21/20 or AB may want it. No other plausible reason since sale = money to pay DIP. Settlement conference scheduled. A deal must be on the table & before it can be accepted all parties must compromise. Only Judge Isgur can end meeting, when an agreement is made or none can be made. JJ is still judge afterwards Isgur is a mediator not new judge. It appears no deal will be approved w/out SH Equity approved IMO. How much IDK, Im optimistic we win in the end, till tomorrow Fam, GLTA Godspeed!
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