1.2m in cash on hand. I think all the lawyers have fed till they can't eat any more. an un-believable 38 MILLION paid to "professionals" in this bankruptcy. Wow. Den of thieves. What a joke our esteemed bankruptcy courts are! license to steal.
I wouldn't worry too much about this little amount of money remaining, have you considered these professionals might be working toward a result that is very good for the existing shareholders? The less actual cash the debtor holds at this time, is the largest factor in avoiding a US Trustee administrated CH7 conversion. It's not like a million dollars means anthing to shareholders at this time.
I'd like to see the filing of an Omnibus Objection to all the pre-petition claims at this time. It would be interesting to see how many claimants came forward to object. Of course any that didn't object within the specified time limit would end up with an court expunged claim.
In re BB LIQUIDATING INC., et al. Case No. 10-14997
Debtor Reporting Period: December 2012
Cash Balance as of 11/30/2012 $ 1,645,764
Cash disbursements during the period:
Payments for Professional Fees (444,122)
Payments for US Trustee (5,851)
Payments for Administrative Priority Expenses -
Tax payments (11,297)
Payments for miscellaneous G&A (922)
Total cash disbursements during the period (462,192)
Refunds Received 20,617
Cash Balance as of 12/31/2012 $ 1,204,189