A very objective and informative update regarding the Lionel and MTH lawsuit was posted by Erol Gurcan on the OGR forum. I’ve copied his summary below. For the full thread, follow the link: http://ogaugerr.infopop.cc/eve/forums/a/tpc/f/57660482/m/6481053134
February 22, 2007-Lionel and MTH’s attorneys were back in bankruptcy court this morning for both a motion and status conference. Lionel CEO/President Jerry Calabrese and MTH owner Mike Wolf were not in court today. It was not necessary for them to be present. Both attended the last bankrptcy court conference on January 9 when both sides agreed to mediation. I attended today’s court proceedings.
First on the court’s docket was Lionel’s motion seeking an extension to file a chapter 11 reorganization plan. The motion, filed on February 9, sought an exclusive 75 day period in which Lionel would be allowed to file a reorganzation plan with the bankrutpcy court, after the appeals court either denies, or issues a final decision regarding MTH’s petition for a rehearing of the trade secrets appeal. Lionel’s attorney, Adam Harris informed the court that he, MTH’s lawyer, Alec Ostrow, and the lawyer for the creditor’s committee, Robert Raicht, entered into a stipulation (agreement) yesterday whereby Lionel would have 60 days to file a plan, instead of the 75 days they had sought in the motion. Judge Lifland signed an order endorsing the stipulation entered into by the three lawyers. The current extension to file a reorganization plan with the court expireson February 27.
Next on the agenda was a status conference. Mr. Harris informed the court that he and Mr Ostrow have already had two mediation sessions with Bankruptcy Judge Cecilia Morris concerning procedural matters in the separate trade secrets and synchronized smoke patent infringement lawsuits. The most recent mediation session occured yesterday. The two m