...they didn’t have money”. Megdal’s latest…
On Friday evening, in a court filing that set forth the terms of the settlement, Picard made it clear why he agreed to such an apparently lenient deal: Wilpon and his partners wouldn’t have had the money to pay him anything.
“Based upon financial information provided by Defendants since the [agreement], and on the advice of my counsel, we have become satisfied that Defendants’ cash flow and lender covenants would not have enabled me to recover more for the BLMIS customer fund in the forseeable future by litigating to the point of judgement,” Picard wrote in an affidavit filed with the settlement terms.
This is a staggering statement, if true, in light of the public attempts by Mets ownership to assert that their problems ended on the day the settlement occurred.
Fred Wilpon and his partners were about to face a trial that would have bankrupted them, and a judgment already found against them—for $83.3 million—was more than they could pay.
That’s a problem for the forseeable future of the New York Mets, whose payroll is already down by more than $50 million from last year.
Repoz
Posted: April 16, 2012 at 06:06 PM |
30 comment(s)
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1. Mark S. is bored Posted: April 16, 2012 at 06:37 PM (#4108288)EDIT: Yeah wait, this:
Explanation, Howard?
What is your problem? I can't believe how pig-headed and irritatingly one-note you're being about this case in every discussion. Here's your opportunity to grow up.
What a baby. I don't get it. What's in it for you? So far as I can tell, you haven't been right yet in any of these discussions, you're just a combative little troll. Is that fun for you?
I guess that's because you're an idiot.
That must be why you're so earnestly interested in the truth. I think the truth is you're something like a boring lawyer who's most interested in dick measuring contests (and who probably comes out on the losing end more often than not).
Took you all the way to post #7 to start thinking about my privates. That a record for you?
Again, I don't get it. Do you post about baseball? Or just troll?
Edit: I can think of exactly two things you post about. 1) trolling Howard Megdal, and 2) trolling Sam. Am I missing anything?
I guess you'd rather revisit Perez/Koufax and Tatis/Castillo? I asked a simple question; you don't seem to know the answer -- which if you ask me is more evidence that you're a Megdal sock puppet, because he doesn't know the answer either.
I don't know Howard at all, and I have no pony in this race. What I don't get from you is why you care so much? And why you troll so hard. You don't seem to me to be interested in furthering the discussion. You just seem to want to prove Howard wrong, as you seem to want to do with Sam. Why? What do you get out of it?
On the off chance that other posters aren't that interested in reading more than 13 posts of you attacking me personally and me responding with ridicule that only seems to make you angrier, I'm going to unilaterally declare this leg of the discussion over.
EDIT:
I don't troll Sam. He's a good poster who, in a single isolated incident, jumped down my throat with a legal argument about which he was simply wrong, which was absolutely clear, certainly by the time the thread ran its course. Megdal needs a little good natured trolling.
By the way, where is Sam? Is it just me or has he been away for the past month or so?
Very noble indeed. Since you seem only to be interested in trolling, I'm going to put you on permanent ignore. Like I said, I don't have a pony in this race, but you're just straight-up trolling and there's no need for that around here. I've said all I need to say. Good luck to ya. I hope you finally get what your after. I know we'll all be better off.
Ok, sounds good - eat a big bag of STFU.
Edited for clarity.
Actually, both he and Sam have really flown the coop lately. CAN'T FATHOM WHY.
I just made someone the only person on my "Ignore" list, and it wasn't you, Piehole.
Dijaler!
Dijaler!
Dijaler!
Dijaler!
Dijaler!
Probably on a bender.
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