We just received correspondence from the Monitor's counsel today. One of the members of IHUB relayed this information to us. Apparently it is inappropriate to correspond to any Canadian Judge directly so... if you haven't sent in your letters to the Canadian Judge, don't. The monitor is aware of our plea and will note it in the next report, but states we need a motion before the Canadian Court before it will be further considered.
This is not a surprise, since Canada does not have a vehicle for an Equity Committee. Many on the board have been wondering if it is time for us to consider getting some legal counsel, and I think it is time to get some guidance.
The US Trustee and Courts are considering our request and you need to continue to write the US Trustee if you already have not. We want to keep you posted good, bad, and indifferent. This was not unexpected, a little disappointing but, not a death knell.
