There is nothing in U.S. bankruptcy law that allows stiffing secured creditors and bondholders, in order to give a portion of a company to a foreign entity, with NO injection of capitl (Re Fiat and Chrysler).

There is no law left in this nation, whether by legislation or precedent. Only thing remaining is administrative fiat.

It is to laugh, Glenn utilizing that as an excuse.

It has always been for the presiding judge to decipher what is considered hypothecated and/or collateralized.

Perhaps, learned counsel should have provided him with a definition of "segregated funds".