WEBVTT 00:00:00.000 --> 00:00:03.919 All right, good afternoon. It is one o 'clock 00:00:03.919 --> 00:00:08.759 on Friday, January 30, 2026. We're here in case 00:00:08.759 --> 00:00:14.099 number 26 -90103, Sachs Global, on an emergency 00:00:14.099 --> 00:00:16.760 motion. Can everyone please mute their lines? 00:00:16.940 --> 00:00:21.579 There's a lot of people on the line. I'd like 00:00:21.579 --> 00:00:27.239 to avoid going to the hand raising feature. All 00:00:27.239 --> 00:00:29.339 right, make sure to go to my webpage and note 00:00:29.339 --> 00:00:31.539 your appearance because that's the way we keep 00:00:31.539 --> 00:00:34.719 track of formal appearances in this case. So 00:00:34.719 --> 00:00:36.579 why don't we get appearances and then we can 00:00:36.579 --> 00:00:42.759 proceed. Good afternoon, Your Honor. This is 00:00:42.759 --> 00:00:44.420 Betsy Feldman from Wilkie Farr and Gallagher 00:00:44.420 --> 00:00:46.280 on behalf of the Global Center. Can you hear 00:00:46.280 --> 00:00:49.259 me all right? I can hear you fine, yes. Thank 00:00:49.259 --> 00:00:53.829 you. Good afternoon, Your Honor. Michael Bearden 00:00:53.829 --> 00:00:56.890 on behalf of the SO5 digital debtors, and hopefully 00:00:56.890 --> 00:00:58.990 joining me soon will be my colleague Jared Martin. 00:00:59.789 --> 00:01:01.369 He is, unfortunately, signed up for another hearing, 00:01:01.409 --> 00:01:07.109 but should be free as we could. All right. Good 00:01:07.109 --> 00:01:09.170 afternoon, Your Honor. Jerry Lee Miller appearing 00:01:09.170 --> 00:01:11.989 on behalf of Simon Property Group from Pacific 00:01:11.989 --> 00:01:14.950 Austin. All right. Thank you. Good afternoon, 00:01:15.010 --> 00:01:16.709 Your Honor. It's Timothy Schilling on behalf 00:01:16.709 --> 00:01:21.069 of GA Group. Chris Schilling. Good afternoon, 00:01:21.069 --> 00:01:23.650 Your Honor. Chris Hopkins with Paul Weitzbrook 00:01:23.650 --> 00:01:25.750 and Jordan Harrison on behalf of the Ad Hoc Group 00:01:25.750 --> 00:01:33.290 of Obholders. Good afternoon. Good afternoon, 00:01:33.430 --> 00:01:35.730 Your Honor. Maggie Vesper of Ballard's Bar LLC 00:01:35.730 --> 00:01:38.109 on behalf of certain landlords, including Street 00:01:38.109 --> 00:01:41.750 Retail LLC and Fashion Outlets of Chicago LLC. 00:01:45.769 --> 00:01:49.650 Good afternoon, Your Honor. Jennifer, Valley 00:01:49.650 --> 00:01:51.790 of Talia Dry and Warren on behalf of certain 00:01:51.790 --> 00:01:55.750 landlords including GDP retail, Brixmore, and 00:01:55.750 --> 00:02:01.750 Regency Center. Thank you. Good afternoon, Your 00:02:01.750 --> 00:02:04.290 Honor. Great guests on behalf of the capital, 00:02:04.670 --> 00:02:08.349 Warren. All right, let me just go around. Mr. 00:02:08.449 --> 00:02:12.930 Scott? Brendan Scott from Clay State Winters 00:02:12.930 --> 00:02:14.949 to other southern and Stevens on behalf of PH 00:02:14.949 --> 00:02:21.900 Multi -Color Corp, PH Multi -Com Corp. All right. 00:02:22.259 --> 00:02:30.120 Miss Ryan. This is Abigail rushing Ryan with 00:02:30.120 --> 00:02:33.860 the National Association of the Tunisian. All 00:02:33.860 --> 00:02:43.030 right. Good afternoon, Your Honor. For the record, 00:02:43.289 --> 00:02:45.789 Daniel Fiorello from Ottawa, D .C., Council for 00:02:45.789 --> 00:02:49.270 Bank of America, an agent for the FADL defenders. 00:02:50.430 --> 00:02:54.930 All right, Mr. Ward. Good afternoon, Your Honor. 00:02:55.289 --> 00:02:57.449 Nathaniel Ward will be firing Gallagher on behalf 00:02:57.449 --> 00:03:00.830 of the global debtors. All right. Does anyone 00:03:00.830 --> 00:03:03.189 else? Mr. Castleman, do you wish to make an appearance? 00:03:06.909 --> 00:03:14.750 I can't hear you. You might be muted. Nope, you're 00:03:14.750 --> 00:03:39.180 still muted, hold on. All right, try now. All 00:03:39.180 --> 00:03:40.740 right, I'm going to activate the hand raising 00:03:40.740 --> 00:03:42.919 feature because we have a lot of people on and 00:03:42.919 --> 00:03:48.219 we have 150 people on, it's very loud. So just 00:03:48.219 --> 00:03:51.860 hit five star one time and I'll let you back 00:03:51.860 --> 00:04:16.850 in. All right, Ms. Feldman, are you a 646 number? 00:04:19.290 --> 00:04:28.209 All right, so let's see. 212 number. That's Ryan. 00:04:28.550 --> 00:04:31.870 212. All right, hold on. I mean, Feldman. The 00:04:31.870 --> 00:04:41.910 number ending in 8633. All right. There's a... 00:04:44.350 --> 00:04:52.050 A 646 number, a line that I just opened up? All 00:04:52.050 --> 00:04:57.449 right, and then a 908 area code number? Yes, 00:04:57.610 --> 00:05:01.529 Your Honor, Joseph Hill, I just wanted to note 00:05:01.529 --> 00:05:04.449 my appearance for the record on behalf of Office 00:05:04.449 --> 00:05:08.310 Capirelli, SAS, and DEVA Inc., which is spelled 00:05:08.310 --> 00:05:16.639 D -E -V -A. Okay, all right. Thank you. Ms. Feldman, 00:05:16.680 --> 00:05:19.660 are you taking the lead? Yes, Your Honor. Thank 00:05:19.660 --> 00:05:23.860 you. We are here today on an emergency motion 00:05:23.860 --> 00:05:26.220 that we filed yesterday concerning the global 00:05:26.220 --> 00:05:28.920 debtor's store closing procedures. I'm joined 00:05:28.920 --> 00:05:32.259 today by my colleagues Jennifer Hardy and Nathaniel 00:05:32.259 --> 00:05:35.839 Ward. The global debtor's chief restructuring 00:05:35.839 --> 00:05:38.560 officer Mark Weinstein is also on the line, as 00:05:38.560 --> 00:05:41.180 is Tim Schilling from the consultant, GA Retail 00:05:41.180 --> 00:05:45.029 Solutions LLC. We wanted to thank Your Honor 00:05:45.029 --> 00:05:47.490 for giving us time on this emergency motion today. 00:05:48.170 --> 00:05:51.269 This morning we filed a witness and exhibit list 00:05:51.269 --> 00:05:55.209 with four exhibits at docket number 530. First, 00:05:55.389 --> 00:05:57.910 the declaration of Mr. Mark Weinstein in support 00:05:57.910 --> 00:06:01.470 of these first days at docket number 530 -1. 00:06:02.189 --> 00:06:04.790 Second, a copy of the consulting agreement at 00:06:04.790 --> 00:06:08.829 docket number 530 -2. Third, a copy of the sort 00:06:08.829 --> 00:06:13.720 closing procedures at docket 530 -3. And finally, 00:06:13.879 --> 00:06:16.040 the declaration of Mr. Weinstein in support of 00:06:16.040 --> 00:06:19.000 this emergency motion. We would ask at this time 00:06:19.000 --> 00:06:21.860 that each be admitted into evidence. All right. 00:06:21.860 --> 00:06:24.680 Let's start with the last one first, which is 00:06:24.680 --> 00:06:27.459 Mr. Weinstein's declaration as it relates to 00:06:27.459 --> 00:06:29.819 this particular motion. Does anyone object to 00:06:29.819 --> 00:06:33.060 the admission of Mr. Weinstein's declaration 00:06:33.060 --> 00:06:38.139 found at Docket 530 -4 as his direct testimony 00:06:38.139 --> 00:06:41.660 in connection with this motion subject to cross 00:06:41.660 --> 00:06:46.459 -examination? All right, hearing no objection, 00:06:46.519 --> 00:06:49.319 that will be admitted. Does anyone object to 00:06:49.319 --> 00:06:55.699 the admission of exhibits 530 -2, which is the 00:06:55.699 --> 00:06:58.779 closing, it is consulting agreement, and 530 00:06:58.779 --> 00:07:03.160 -3, which is the store closing procedures, admission 00:07:03.160 --> 00:07:08.660 of those exhibits into evidence? All right, hearing 00:07:08.660 --> 00:07:10.899 no objection, they will be admitted. Obviously, 00:07:11.120 --> 00:07:12.620 to the extent any, oh, wait a second, somebody 00:07:12.620 --> 00:07:18.290 just, I just. Open the line for someone. I apologize, 00:07:18.310 --> 00:07:20.350 Your Honor. This is Jerry Lee Miller. I had raised 00:07:20.350 --> 00:07:22.430 my hand earlier to make my appearance, but that 00:07:22.430 --> 00:07:27.629 got made. Okay. All right. All right. Hearing 00:07:27.629 --> 00:07:31.730 no objection to admission of exhibit 530 -2 or 00:07:31.730 --> 00:07:34.569 530 -3, those will be admitted. As it relates 00:07:34.569 --> 00:07:40.439 to 530 -1, that's the general background. petition 00:07:40.439 --> 00:07:42.920 which had been admitted just for purposes of 00:07:42.920 --> 00:07:44.959 the background. I'm going to take judicial notice 00:07:44.959 --> 00:07:47.759 of that. I don't think that pertains directly 00:07:47.759 --> 00:07:51.379 to this motion. It's more of a background. So 00:07:51.379 --> 00:07:54.899 the exhibits are admitted. Thank you, Your Honor. 00:07:56.120 --> 00:07:58.240 As Your Honor may recall from our first day hearing 00:07:58.240 --> 00:08:00.779 a few weeks ago and certain motions that we filed 00:08:00.779 --> 00:08:04.339 in these cases to date, the debtors operate the 00:08:04.339 --> 00:08:07.300 SACS office brand, which offers discounted luxury 00:08:07.300 --> 00:08:10.120 goods to customers. The Zaxal Fifth Brand has 00:08:10.120 --> 00:08:13.100 two selling channels, 74 brick and mortar stores 00:08:13.100 --> 00:08:15.860 that are operated by the global debtors and an 00:08:15.860 --> 00:08:18.339 e -commerce site that is operated by the SO5 00:08:18.339 --> 00:08:22.259 digital debtors. The global debtors have also 00:08:22.259 --> 00:08:25.160 been winding down operations at the Neiman Markets 00:08:25.160 --> 00:08:28.680 last call source as well. Unfortunately, all 00:08:28.680 --> 00:08:30.759 three channels have suffered in performance of 00:08:30.759 --> 00:08:33.539 late. And last week, Your Honor heard a motion 00:08:33.539 --> 00:08:37.019 by the SO5 digital debtors for authority to wind 00:08:37.019 --> 00:08:40.200 down the e -commerce site. Today, we're before 00:08:40.200 --> 00:08:42.399 you seeking authority for similar relief with 00:08:42.399 --> 00:08:45.620 respect to the stores. The global debtor's strategy 00:08:45.620 --> 00:08:48.519 with respect to the stores is to resize the store 00:08:48.519 --> 00:08:51.440 footprint down to 12 and to use those stores 00:08:51.440 --> 00:08:54.220 as a liquidation channel to sell excess inventory. 00:08:56.039 --> 00:08:58.299 In furtherance of this strategy, by this motion, 00:08:58.539 --> 00:09:00.980 the global debtors seek authority to enter into 00:09:00.980 --> 00:09:03.870 and perform under a consulting agreement with 00:09:03.870 --> 00:09:07.649 GA Retail Solutions LLC, a copy of which is attached 00:09:07.649 --> 00:09:10.909 as Exhibit 1 to the proposed interim order. In 00:09:10.909 --> 00:09:13.070 addition, we're seeking authority to conduct 00:09:13.070 --> 00:09:16.049 store closing sales pursuant to certain proposed 00:09:16.049 --> 00:09:18.450 procedures that are attached as Exhibit 2 to 00:09:18.450 --> 00:09:21.629 the proposed interim order. Also, we're seeking 00:09:21.629 --> 00:09:24.850 authority to pay bonuses for non -insider employees 00:09:24.850 --> 00:09:28.169 of the closing stores and to approve modifications 00:09:28.169 --> 00:09:35.879 to certain new customer programs. With respect 00:09:35.879 --> 00:09:38.299 to that last point, I'd like to point out that 00:09:38.299 --> 00:09:41.159 the SO5 digital debtors have joined in our motion 00:09:41.159 --> 00:09:43.700 with respect to the customer program modifications. 00:09:44.580 --> 00:09:46.720 The purpose of that, Your Honor, was to coordinate 00:09:46.720 --> 00:09:49.399 so that we would ensure that release is as clear 00:09:49.399 --> 00:09:52.580 and consistent as possible for SACS Office customers, 00:09:52.679 --> 00:09:54.740 whether they're shopping in -store or online. 00:09:56.440 --> 00:09:58.480 Since we filed the motion yesterday, we had a 00:09:58.480 --> 00:10:00.840 number of parties reach out to us to discuss 00:10:00.840 --> 00:10:03.059 specific aspects of the release we are seeking. 00:10:03.340 --> 00:10:06.159 including the attorney for the US trustees, certain 00:10:06.159 --> 00:10:08.659 landlords of the closing stores, and other interested 00:10:08.659 --> 00:10:12.279 parties. However, there has been one objection 00:10:12.279 --> 00:10:14.220 that was filed to the motion this afternoon, 00:10:14.279 --> 00:10:17.980 I believe by Simon Property. Before I go too 00:10:17.980 --> 00:10:19.879 much further, I wanted to make a few statements 00:10:19.879 --> 00:10:22.080 on the record in response to points that have 00:10:22.080 --> 00:10:26.259 been raised over the past 36 hours. Judge, you 00:10:26.259 --> 00:10:29.220 may hear from a lot of vendors about issues that 00:10:29.220 --> 00:10:31.740 were raised at the first day hearing. But nothing 00:10:31.740 --> 00:10:34.659 in this sale closing procedures motion, which 00:10:34.659 --> 00:10:37.720 true to its name is procedural, affects what 00:10:37.720 --> 00:10:40.659 the court heard as to the vendors on the first 00:10:40.659 --> 00:10:43.659 day. And any remaining issues from the first 00:10:43.659 --> 00:10:46.220 day that aren't yet resolved, and again, we really 00:10:46.220 --> 00:10:49.200 do hope to resolve them all before any final 00:10:49.200 --> 00:10:51.919 order is entered, that those will be resolved 00:10:51.919 --> 00:10:54.980 at the hearing on the 13th. But this hearing 00:10:54.980 --> 00:10:58.360 is not the forum. to address those issues unless 00:10:58.360 --> 00:11:00.720 they are specific to the relief that's requested 00:11:00.720 --> 00:11:04.080 here. Consistent with what was said at last week's 00:11:04.080 --> 00:11:07.100 hearing for the SO5 digital debtors, we care 00:11:07.100 --> 00:11:10.179 very deeply about the debtor's brands and relationships. 00:11:10.720 --> 00:11:13.320 And this order is not intended to diminish any 00:11:13.320 --> 00:11:16.100 vendor's rights in inventory or otherwise, and 00:11:16.100 --> 00:11:21.419 likewise, the global debtor's rights. Next. The 00:11:21.419 --> 00:11:23.740 global debtors will not expand the relief sought 00:11:23.740 --> 00:11:26.519 in the motion to stores beyond those that are 00:11:26.519 --> 00:11:28.720 listed on the exhibit to the consulting agreement 00:11:28.720 --> 00:11:31.240 without seeking further relief from this court 00:11:31.240 --> 00:11:35.980 on notice and a hearing. Next, with respect to 00:11:35.980 --> 00:11:38.679 any side letters that are entered into under 00:11:38.679 --> 00:11:42.379 the proposed interim order, Great American and 00:11:42.379 --> 00:11:44.559 the global debtors will work in good faith on 00:11:44.559 --> 00:11:47.259 the terms of such side letters. If a landlord 00:11:47.259 --> 00:11:49.950 had a breach of contract, claim arising from 00:11:49.950 --> 00:11:53.049 the closing of the stores and any sales that 00:11:53.049 --> 00:11:55.929 are conducted under these procedures and has 00:11:55.929 --> 00:11:58.409 failed to enter into a side letter, those rights 00:11:58.409 --> 00:12:01.110 are preserved and can be dealt with in the assumption 00:12:01.110 --> 00:12:03.769 and rejection process later on in this case. 00:12:05.710 --> 00:12:08.169 Finally, following this hearing, we will file 00:12:08.169 --> 00:12:12.149 a revised proposed form of interim order reflecting 00:12:12.149 --> 00:12:14.529 some changes that we have agreed to make with 00:12:14.529 --> 00:12:17.980 certain parties of interest. In the interest 00:12:17.980 --> 00:12:20.179 of time, I'll ask if Your Honor has a preference 00:12:20.179 --> 00:12:22.799 on how we proceed. I'm happy to answer any questions 00:12:22.799 --> 00:12:24.639 that you might have or proceed on the merits, 00:12:25.159 --> 00:12:27.120 or otherwise we would ask that the court enter 00:12:27.120 --> 00:12:30.120 the proposed interim order. All right. So I have 00:12:30.120 --> 00:12:33.100 one or two questions, and then I'm going to let 00:12:33.100 --> 00:12:39.519 the other parties speak. And then the other overriding 00:12:39.519 --> 00:12:47.240 concern is I saw from the docket sheet that the 00:12:47.240 --> 00:12:49.720 organizational meeting for the unsecured creditors 00:12:49.720 --> 00:12:56.080 had been yesterday I believe and so to I don't 00:12:56.080 --> 00:12:59.879 know if the unsecured creditors committee had 00:12:59.879 --> 00:13:06.740 appointed counsel yet but I would I would I would 00:13:06.740 --> 00:13:11.710 love for them to be able to see to see this before 00:13:11.710 --> 00:13:14.450 I consider entry of the order, but we'll talk 00:13:14.450 --> 00:13:16.450 about that at the end. The only question that 00:13:16.450 --> 00:13:21.350 I had was, so you filed a motion at docket number 00:13:21.350 --> 00:13:27.649 32 to reject certain leases. Are these 74 leases 00:13:27.649 --> 00:13:31.549 included in that motion? No, Your Honor, they 00:13:31.549 --> 00:13:34.549 are distinct. Okay, so there is currently no 00:13:34.549 --> 00:13:39.889 motion to reject Any of the leases that are covered 00:13:39.889 --> 00:13:43.769 by this motion? That's correct, Your Honor. Okay. 00:13:43.990 --> 00:13:47.610 All right. That actually simplifies things for 00:13:47.610 --> 00:13:50.149 me. All right. Let me hear from anyone else who 00:13:50.149 --> 00:13:54.169 would like to be heard. Your Honor, can you hear 00:13:54.169 --> 00:13:58.529 me? Yes. Perfect. Jerry Lee Miller from Sibley 00:13:58.529 --> 00:14:00.610 Austin here on behalf of Simon Property Group. 00:14:01.129 --> 00:14:02.830 Your Honor, we did file an objection at Docket 00:14:02.830 --> 00:14:06.250 533 immediately before this hearing. My client 00:14:06.250 --> 00:14:09.120 does not in principle oppose the debtors conducting 00:14:09.120 --> 00:14:11.000 the store closing sales. We understand that's 00:14:11.000 --> 00:14:12.960 within their discretion. What we would like, 00:14:13.080 --> 00:14:16.139 Your Honor, is simply time. Time that's guaranteed 00:14:16.139 --> 00:14:18.720 to us by its due process clause and the bankruptcy 00:14:18.720 --> 00:14:22.259 code. Just for Your Honor's context, this motion 00:14:22.259 --> 00:14:24.960 was filed at 1 .30 p .m. yesterday. We immediately 00:14:24.960 --> 00:14:27.159 reached out to Great American with our form of 00:14:27.159 --> 00:14:30.139 side letter agreement. Simon is obviously a very 00:14:30.139 --> 00:14:32.840 large landlord. They've got a form of agreement 00:14:32.840 --> 00:14:36.009 that they negotiated with. standard terms and 00:14:36.009 --> 00:14:37.970 conditions that they reach out to parties who 00:14:37.970 --> 00:14:40.549 are in similar circumstances and turn to an agreement 00:14:40.549 --> 00:14:43.450 with. We did hear back from Great American this 00:14:43.450 --> 00:14:46.289 morning around 10 a .m., but the feedback was 00:14:46.289 --> 00:14:48.129 simply that it was too close to the hearing and 00:14:48.129 --> 00:14:49.649 we weren't going to be able to reach a resolution 00:14:49.649 --> 00:14:52.590 in time. And so, Your Honor, we simply asked 00:14:52.590 --> 00:14:55.690 for that time to reach a resolution. We understand 00:14:55.690 --> 00:14:57.850 that the debtors filed this on an emergency basis, 00:14:58.110 --> 00:15:00.409 but frankly, Your Honor, they've been in bankruptcy 00:15:00.409 --> 00:15:03.419 for two and a half weeks. So to the extent that 00:15:03.419 --> 00:15:05.139 there was something to be negotiated, they could 00:15:05.139 --> 00:15:06.860 have been working with the landlords for the 00:15:06.860 --> 00:15:09.340 past two and a half weeks, so that this could 00:15:09.340 --> 00:15:12.779 have been filed on an agreed upon basis. Unfortunately, 00:15:12.779 --> 00:15:14.539 that's not what happened. We just learned about 00:15:14.539 --> 00:15:16.779 it when it got filed yesterday at 1 .30 p .m. 00:15:16.980 --> 00:15:19.639 And so we should not now be forced into an arrangement 00:15:19.639 --> 00:15:23.879 on one day's notice simply based on the promise 00:15:23.879 --> 00:15:26.639 that they'll work with us in the future. And 00:15:26.639 --> 00:15:29.100 going to that promise, Your Honor, While I very 00:15:29.100 --> 00:15:30.840 much appreciate their willingness to work with 00:15:30.840 --> 00:15:32.960 us in the future, and I'm confident in the signing 00:15:32.960 --> 00:15:35.159 group's ability to consensually resolve these, 00:15:35.440 --> 00:15:37.460 for context they have resolved approximately 00:15:37.460 --> 00:15:41.059 90 % of these that they've done, the entry of 00:15:41.059 --> 00:15:42.860 the interim order today would change the playing 00:15:42.860 --> 00:15:45.320 field, Your Honor. So when that interim order 00:15:45.320 --> 00:15:48.299 gets entered, the store closing sales could immediately 00:15:48.299 --> 00:15:50.320 commence, and we understand that they would immediately 00:15:50.320 --> 00:15:53.220 commence, which constitutes post -petition breaches 00:15:53.220 --> 00:15:56.539 of our leases and which causes signing property 00:15:56.539 --> 00:15:59.850 group damages. All we're asking for is for these 00:15:59.850 --> 00:16:02.009 side letters to be negotiated in advance. And 00:16:02.009 --> 00:16:04.529 so, Your Honor, we'd ask for simply more time 00:16:04.529 --> 00:16:07.129 before this interim order is entered or that 00:16:07.129 --> 00:16:09.090 the sign -in lease is be carved out of the interim 00:16:09.090 --> 00:16:12.389 order, subject to the earlier of a consensual 00:16:12.389 --> 00:16:14.190 entry into a side letter, which we think could 00:16:14.190 --> 00:16:18.429 happen very quickly or the final order. All right. 00:16:18.450 --> 00:16:25.370 Anyone else? Can you hear me? Yes, I can, Ms. 00:16:25.389 --> 00:16:29.460 Ryan. Thank you honor and for the record, this 00:16:29.460 --> 00:16:32.000 is Abigail Ryan with the National Association 00:16:32.000 --> 00:16:36.039 of Attorneys General. We just learned about this 00:16:36.039 --> 00:16:39.840 filing this morning and I have been coordinating 00:16:39.840 --> 00:16:42.000 with some agencies offices, but I'm sure the 00:16:42.000 --> 00:16:47.120 majority of them have not seen this order. Since 00:16:47.120 --> 00:16:51.120 it does impose liquidating sales laws and dispute 00:16:51.120 --> 00:16:54.120 resolution processes, I really like to be able 00:16:54.120 --> 00:16:58.019 to touch base and make sure that know about that. 00:16:58.820 --> 00:17:01.879 I do know a couple of things have been raised. 00:17:02.039 --> 00:17:04.900 I believe we can absolutely find language that 00:17:04.900 --> 00:17:07.299 will address these issues in even more time. 00:17:08.220 --> 00:17:10.839 The first issue is the dispute resolution process, 00:17:10.859 --> 00:17:14.839 as I read it, does not carve out police and regulatory 00:17:14.839 --> 00:17:18.140 laws to be enforced for human health and safety. 00:17:18.940 --> 00:17:21.660 And generally, when this language is used, I'm 00:17:21.660 --> 00:17:23.559 very familiar with it. It's been almost every 00:17:23.559 --> 00:17:27.309 day in a business case. you do have a carve out. 00:17:27.509 --> 00:17:30.849 And so that's the first issue. The second issue 00:17:30.849 --> 00:17:34.569 is you feel that consumers need to be able to 00:17:34.569 --> 00:17:37.089 return materially non -conforming goods if they 00:17:37.089 --> 00:17:41.369 get something like that at a sale. Third, it 00:17:41.369 --> 00:17:43.930 needs to address augmented goods as well. And 00:17:43.930 --> 00:17:46.690 so if other goods are brought in, they're not 00:17:46.690 --> 00:17:50.180 as... the facts of Avenue or the debtors or what 00:17:50.180 --> 00:17:52.200 have you, they need to be clearly labeled so 00:17:52.200 --> 00:17:54.599 customers know they're buying an augmented good 00:17:54.599 --> 00:17:58.420 that is not part of the debtor's supply. And 00:17:58.420 --> 00:18:02.119 finally, since this is going to be very quick 00:18:02.119 --> 00:18:04.640 and these closing bills are going to go into 00:18:04.640 --> 00:18:09.539 motion soon, we would like to have the customers 00:18:09.539 --> 00:18:12.599 notice through the debtor's website and social 00:18:12.599 --> 00:18:15.259 media apps because we believe that reaches more 00:18:15.259 --> 00:18:20.059 consumers more quickly. I believe the order said 00:18:20.059 --> 00:18:22.640 they would accept gift cards for the first 15 00:18:22.640 --> 00:18:25.859 days of the sale. I don't have an issue with 00:18:25.859 --> 00:18:29.059 that, but I do have one question as to whether 00:18:29.059 --> 00:18:31.559 other stores that aren't closing, will they continue 00:18:31.559 --> 00:18:34.819 to accept the gift cards? And so if you have 00:18:34.819 --> 00:18:37.259 questions for me, I'm more than happy to answer 00:18:37.259 --> 00:18:39.920 them. Otherwise, I wanted my objection on the 00:18:39.920 --> 00:18:42.380 record, but I think we can probably find language 00:18:42.380 --> 00:18:47.500 that'll fix these issues. Yeah. I think those 00:18:47.500 --> 00:18:50.559 are all issues that need to be addressed. I'm 00:18:50.559 --> 00:18:54.740 not sure that if they're if they're if they have 00:18:54.740 --> 00:18:56.640 to be in the interim order, we're going to set 00:18:56.640 --> 00:19:02.480 a prompt hearing on the final. So I suspect and 00:19:02.480 --> 00:19:07.019 Miss Feldman if we can we can set it at the time 00:19:07.019 --> 00:19:09.460 of the final hearings on the 13th or we could 00:19:09.460 --> 00:19:12.599 do it at a different date if if it's more appropriate. 00:19:12.619 --> 00:19:15.279 But the 13th is all sacks so we can certainly 00:19:15.480 --> 00:19:17.700 find a time to do it that day. So that's only 00:19:17.700 --> 00:19:20.700 two weeks from today. So I think that that can 00:19:20.700 --> 00:19:26.039 be addressed at that time. Okay. Anyone else 00:19:26.039 --> 00:19:29.680 wish to be heard? Good afternoon. Your Honor, 00:19:29.819 --> 00:19:32.220 I'm Maggie Vesper of Valerie's Bar LLP on behalf 00:19:32.220 --> 00:19:35.160 of Street Retail LLC and Fashion Outlets of Chicago 00:19:35.160 --> 00:19:38.700 LLC. I rise today to echo the concerns raised 00:19:38.700 --> 00:19:41.880 by Simon Properties. Prior to the day's hearing, 00:19:42.480 --> 00:19:45.599 in an effort to resolve our concerns, we previewed 00:19:45.599 --> 00:19:48.299 these issues with the debtors. And although we 00:19:48.299 --> 00:19:50.519 need some progress, we were not able to fully 00:19:50.519 --> 00:19:53.839 resolve all of our concerns. Our central issue 00:19:53.839 --> 00:19:56.259 is having signage and advertising in place at 00:19:56.259 --> 00:19:58.559 our clients' locations prior to the entry of 00:19:58.559 --> 00:20:01.420 a final order or the execution of a side letter. 00:20:01.960 --> 00:20:04.319 Many of the purported sale guidelines violate 00:20:04.319 --> 00:20:07.720 numerous provisions of our clients' leases, and 00:20:07.720 --> 00:20:11.450 there's no basis to invalidate or otherwise ignore 00:20:11.450 --> 00:20:14.230 these lease terms. Accordingly, we object to 00:20:14.230 --> 00:20:16.329 the commencement or continuation of sale with 00:20:16.329 --> 00:20:19.349 our clients to locations under the proposed guidelines 00:20:19.349 --> 00:20:22.150 unless and until there's a side letter or the 00:20:22.150 --> 00:20:24.470 court makes a determination at a final hearing 00:20:24.470 --> 00:20:27.569 on the sale guidelines. Our clients are willing 00:20:27.569 --> 00:20:30.029 to work with the debtors on the process for these 00:20:30.029 --> 00:20:32.710 sales as we have done in so many other retail 00:20:32.710 --> 00:20:39.419 bankruptcies. And we would request that the be 00:20:39.419 --> 00:20:41.759 conditioned on the entry of the ladder of the 00:20:41.759 --> 00:20:43.779 entry of the side letter between the parties 00:20:43.779 --> 00:20:46.839 or the entry of a final order. We also have two 00:20:46.839 --> 00:20:49.359 specific line items that we spoke with Ms. Feldman 00:20:49.359 --> 00:20:51.039 about, but I'm not sure we're incorporated in 00:20:51.039 --> 00:20:53.079 the proposed order. And I'm happy to address 00:20:53.079 --> 00:20:58.000 those now or wait for a time or I would prefer. 00:21:02.099 --> 00:21:04.019 I mean, I don't know what they are. I don't know 00:21:04.019 --> 00:21:07.299 whether they've been addressed. If I can respond 00:21:07.299 --> 00:21:10.059 to that. One piece, Your Honor. We'll continue 00:21:10.059 --> 00:21:12.799 to work with Ms. Bestford to address those two 00:21:12.799 --> 00:21:16.880 final line items. All right. Who else wishes 00:21:16.880 --> 00:21:21.680 to be heard? Your Honor, my editor? Yes. Brendan 00:21:21.680 --> 00:21:24.420 Scott on behalf of Richland Group, Inc. and Unique 00:21:24.420 --> 00:21:26.960 Designs, Inc. I just wish to raise, Your Honor, 00:21:27.220 --> 00:21:29.660 a point of clarification. In the consulting agreement, 00:21:30.319 --> 00:21:33.200 the definition of merchandise appears to carve 00:21:33.200 --> 00:21:35.319 out all memo and consignment for us, but there 00:21:35.319 --> 00:21:37.809 is... something of a qualifier in there that 00:21:37.809 --> 00:21:40.589 says, as identified by merchant. I think that 00:21:40.589 --> 00:21:42.549 means that the debtors are just going to send 00:21:42.549 --> 00:21:44.730 a list of all consignment and memo goods. I want 00:21:44.730 --> 00:21:47.549 to be certain that they're not reserving the 00:21:47.549 --> 00:21:49.309 right to pick and choose which goods they think 00:21:49.309 --> 00:21:51.910 are on, were received on consignment and memo, 00:21:52.089 --> 00:21:55.490 that to the extent they're going to pick and 00:21:55.490 --> 00:21:57.450 choose, that the party should have some consent 00:21:57.450 --> 00:21:59.390 rights with respect to that. So I'm hoping the 00:21:59.390 --> 00:22:01.869 debtor can clarify with that, Ian, truly all 00:22:01.869 --> 00:22:03.950 goods received on memo and consignment are carved 00:22:03.950 --> 00:22:07.109 out. And they're not reserved to send right there 00:22:07.109 --> 00:22:13.069 to pick and choose. Is that correct, Ms. Feldman? 00:22:14.869 --> 00:22:17.049 That's correct, Your Honor. Yeah, that's the 00:22:17.049 --> 00:22:20.549 way I understood it and that's the way... This 00:22:20.549 --> 00:22:23.130 is almost identical to... The numbers are different, 00:22:23.150 --> 00:22:25.470 obviously, but this is almost identical to the 00:22:25.470 --> 00:22:29.029 one that we signed last week with respect to 00:22:29.029 --> 00:22:33.940 the digital debtors and that... point was raised 00:22:33.940 --> 00:22:36.960 and addressed at that time. Anyone else wish 00:22:36.960 --> 00:22:59.849 to be heard? The motion filed with the debtors, 00:23:00.089 --> 00:23:02.250 which includes the closing of five last coal 00:23:02.250 --> 00:23:06.089 stores, impacts the ongoing relationship between 00:23:06.089 --> 00:23:09.009 Capital One and the debtors. After receiving 00:23:09.009 --> 00:23:13.849 the motion, we reached out to counsel for the 00:23:13.849 --> 00:23:15.990 debtor, as well as the business folks at the 00:23:15.990 --> 00:23:19.549 meeting, and we raised a number of concerns with 00:23:19.549 --> 00:23:23.289 the process of the sales and the impact that 00:23:23.289 --> 00:23:27.500 it would have upon the ongoing customer program. 00:23:28.759 --> 00:23:31.460 I'm happy to report that we have reached an agreement 00:23:31.460 --> 00:23:35.559 as to many of the issues that were raised, and 00:23:35.559 --> 00:23:38.099 the debtors council has represented that there 00:23:38.099 --> 00:23:40.599 will be language added to the order to address 00:23:40.599 --> 00:23:44.299 those issues. At this point, from the statement 00:23:44.299 --> 00:23:47.039 of Ms. Goldman earlier on, apparently the revised 00:23:47.039 --> 00:23:50.119 form of order has not yet been uploaded or filed, 00:23:50.180 --> 00:23:52.140 so we have not seen it to make sure that it's 00:23:52.140 --> 00:23:54.460 in there. So we reserve the right with regards 00:23:54.460 --> 00:23:57.359 to those particular pieces. Having said that, 00:23:57.400 --> 00:24:01.539 there is one open issue that we have continuing 00:24:01.539 --> 00:24:04.019 discussions about, and that relates to a feature 00:24:04.019 --> 00:24:06.900 of the program agreement in which customers who 00:24:06.900 --> 00:24:10.140 do not have their card on their persons can have 00:24:10.140 --> 00:24:13.000 people at the store without their account number. 00:24:13.420 --> 00:24:15.400 We believe that there are some issues that are 00:24:15.400 --> 00:24:18.200 raised with it. We have not been able to resolve 00:24:18.200 --> 00:24:21.119 that issue, so we're reserving the right to possibly 00:24:21.119 --> 00:24:24.240 object to that particular provision before a 00:24:24.240 --> 00:24:26.640 final hearing, while we're going to continue 00:24:26.640 --> 00:24:29.180 to work with others to try to resolve it outside. 00:24:30.180 --> 00:24:32.440 With that, hopefully we can get it resolved. 00:24:32.720 --> 00:24:34.400 Thank you, Your Honor. All right. Thank you. 00:24:34.599 --> 00:24:39.339 All right. Who else wishes to be heard? If I 00:24:39.339 --> 00:24:42.640 may quickly, Your Honor. Yes, sir. Thank you. 00:24:42.720 --> 00:24:44.559 Once again, for the record, Michael Reardon on 00:24:44.559 --> 00:24:47.140 behalf of the SO5 Digital Debtors. As we've still 00:24:47.140 --> 00:24:50.220 been noted at the top, we have joined this motion 00:24:50.220 --> 00:24:52.279 or reparties to this motion solely with respect 00:24:52.279 --> 00:24:55.400 to the provisions relating to customer programs. 00:24:55.579 --> 00:24:57.900 We've been working with the global side to make 00:24:57.900 --> 00:25:00.180 sure we're coordinating the timing and implementation 00:25:00.180 --> 00:25:03.519 of these changes, you know, at least on the SACS, 00:25:03.599 --> 00:25:06.000 on the off -fifth .com side in connection with 00:25:06.000 --> 00:25:08.319 our liquidation sale, and on the SACS global 00:25:08.319 --> 00:25:11.259 side. proposed store closings in order to limit 00:25:11.259 --> 00:25:15.059 customer confusion. We are at a point where we 00:25:15.059 --> 00:25:16.920 have, I think, these changes queued up and ready 00:25:16.920 --> 00:25:19.059 to go. And we're anticipating implementing them 00:25:19.059 --> 00:25:21.819 either today or tomorrow. So as we're discussing 00:25:21.819 --> 00:25:26.460 timing, we think it's important in terms of keeping 00:25:26.460 --> 00:25:29.460 our liquidation sale moving forward to at least 00:25:29.460 --> 00:25:31.920 have authorization on the customer program aspect 00:25:31.920 --> 00:25:34.000 of this order. Thank you, Your Honor. Thank you. 00:25:38.069 --> 00:25:41.730 Yes. Thank you, Your Honor. For the record, Jennifer 00:25:41.730 --> 00:25:45.049 Avelli of Kelly Dry. Again, on behalf of the 00:25:45.049 --> 00:25:47.549 GDP retail at Brooksmore and Regency Centers, 00:25:48.130 --> 00:25:51.809 we echo the comments of Ms. Miller and Ms. Vesper. 00:25:52.329 --> 00:25:54.490 We did reach out to Wilkie before the hearing. 00:25:54.609 --> 00:25:56.490 And a lot of these issues, frankly, we were usually 00:25:56.490 --> 00:25:59.190 able to resolve prior to an interim hearing. 00:25:59.250 --> 00:26:01.109 But because of the expedited nature, we were 00:26:01.109 --> 00:26:05.160 not able to in this situation. I hope that the 00:26:05.160 --> 00:26:06.980 revised order will address a lot of our concerns. 00:26:07.180 --> 00:26:09.319 I have seen some of Ms. Vester's comments to 00:26:09.319 --> 00:26:11.940 it. I did just want to raise a few points. One 00:26:11.940 --> 00:26:14.559 being that we agree that until a side letter 00:26:14.559 --> 00:26:16.759 is signed because of expedited nature, we would 00:26:16.759 --> 00:26:20.039 ask that no store clothing sale signage is installed 00:26:20.039 --> 00:26:23.279 in our clients' locations. Two, we would like 00:26:23.279 --> 00:26:25.400 to be notified when the store clothing sales 00:26:25.400 --> 00:26:27.700 are going to conclude at those locations. That's 00:26:27.700 --> 00:26:29.299 typically something we can address in a side 00:26:29.299 --> 00:26:31.789 letter, but it is important for our clients can 00:26:31.789 --> 00:26:33.849 dress the windows to avoid the appearance of 00:26:33.849 --> 00:26:38.309 a dark store. And then ultimately, the sale termination 00:26:38.309 --> 00:26:41.269 date in the motion appears to be April 30th, 00:26:41.269 --> 00:26:43.250 but the parties have the right to extend that. 00:26:43.490 --> 00:26:46.109 And we would like to be given notice to the extent 00:26:46.109 --> 00:26:48.730 that the sale termination date is extended, just 00:26:48.730 --> 00:26:50.349 so that we're aware of what's going to be happening 00:26:50.349 --> 00:26:53.950 in our spaces. I think that's all I have for 00:26:53.950 --> 00:26:56.109 now. But again, I do just echo the comments of 00:26:56.109 --> 00:27:00.119 Ms. Miller and Ms. Vassper. All right, anyone 00:27:00.119 --> 00:27:10.980 else wish to be heard? All right, go ahead. Did 00:27:10.980 --> 00:27:17.180 you hit five star? Okay, there you go. Good afternoon, 00:27:17.380 --> 00:27:19.339 your honor. Good afternoon. Good afternoon, your 00:27:19.339 --> 00:27:22.200 honor. Audrey Horscher with Quark Hill TLC representing 00:27:22.200 --> 00:27:26.099 Scottsdale Promenade. We also echo the concerns 00:27:26.099 --> 00:27:30.029 of the other landlords today. Primarily, our 00:27:30.029 --> 00:27:33.089 concern is expedited nature. Typically, we would 00:27:33.089 --> 00:27:34.890 enter into five minutes. Our system will end 00:27:34.890 --> 00:27:37.970 this conference in five minutes. To extend this 00:27:37.970 --> 00:27:40.869 call for one hour, please enter the moderator 00:27:40.869 --> 00:27:47.150 pin now. Your conference has been extended for 00:27:47.150 --> 00:27:52.069 60 minutes. We hope that we're going to be able 00:27:52.069 --> 00:27:54.309 to amicably resolve these before signage and 00:27:54.309 --> 00:28:01.130 marketing commences at our location. All right. 00:28:04.589 --> 00:28:07.910 All right. Ms. Feldman. Your honor, if there's 00:28:07.910 --> 00:28:09.410 no one else who wishes to be heard, I'd like 00:28:09.410 --> 00:28:12.950 to respond to a few of these points. Sure. Thank 00:28:12.950 --> 00:28:15.930 you, your honor. With respect to the landlord 00:28:15.930 --> 00:28:20.210 councils who have raised similar issues, I'll 00:28:20.210 --> 00:28:23.710 just reiterate what I stated earlier in my introduction. 00:28:24.750 --> 00:28:28.269 It's very important to us that our sale not be 00:28:28.269 --> 00:28:31.250 conditioned on an individual landlord's consent. 00:28:31.829 --> 00:28:36.730 And for that reason, we would respect to any 00:28:36.730 --> 00:28:39.970 side letters that the parties will likely enter 00:28:39.970 --> 00:28:43.750 into. As I noted earlier, we will definitely 00:28:43.750 --> 00:28:46.069 continue to work in good faith with the landlord's 00:28:46.069 --> 00:28:49.210 council to reach an agreement on those side letters. 00:28:49.750 --> 00:28:53.740 However, the exigency of these store closings 00:28:53.740 --> 00:28:58.880 is very palpable for these global debtors. With 00:28:58.880 --> 00:29:03.599 respect to the timeline of these cases, the store 00:29:03.599 --> 00:29:06.779 closing sales really do need to commence right 00:29:06.779 --> 00:29:09.980 now. They're slated to proceed for approximately 00:29:09.980 --> 00:29:15.660 12 weeks in these cases. And if we expand the 00:29:15.660 --> 00:29:20.140 timeline beyond those 12 weeks, We will not only 00:29:20.140 --> 00:29:23.720 incur unnecessary rent charges beyond that time, 00:29:24.059 --> 00:29:27.319 but also we will incur additional case costs 00:29:27.319 --> 00:29:30.039 throughout these cases, which will really burden 00:29:30.039 --> 00:29:35.420 the debtors. For that reason, we cannot let the 00:29:35.420 --> 00:29:37.740 commencement of the store closing slip past the 00:29:37.740 --> 00:29:40.579 date that's projected in our motion. And for 00:29:40.579 --> 00:29:43.559 that reason, we would respectfully request the 00:29:43.559 --> 00:29:46.720 landlord's council's objection with respect to 00:29:46.720 --> 00:29:50.700 the side letters needing to be entered before 00:29:50.700 --> 00:29:54.039 any store closings can commence with their stores 00:29:54.039 --> 00:29:58.000 be overruled. When do you anticipate putting 00:29:58.000 --> 00:30:02.299 the signage up? Your Honor, I believe that is 00:30:02.299 --> 00:30:05.619 happening on Saturday, but I will defer to Mr. 00:30:05.859 --> 00:30:13.579 Schilling if anything has changed. Hearing nothing, 00:30:13.579 --> 00:30:15.119 however, I think that's fine. No, no, no. He's 00:30:15.119 --> 00:30:17.700 trying to get on. Hit five star one time, Mr. 00:30:17.740 --> 00:30:28.640 Schilling. No, just hit it five star one time 00:30:28.640 --> 00:30:37.559 All right, there you go Okay, thank you your 00:30:37.559 --> 00:30:40.859 honor. Yes, miss Delvin is correct. The plan 00:30:40.859 --> 00:30:44.500 is right now to start to sell tomorrow morning 00:30:44.500 --> 00:30:55.519 All right, anyone else wish to be heard Sorry, 00:30:55.799 --> 00:30:59.500 my apologies. Your Honor, if I may briefly respond, 00:31:00.000 --> 00:31:03.700 we're not looking to condition anything on our 00:31:03.700 --> 00:31:06.180 consent, Your Honor. We simply want due process. 00:31:06.759 --> 00:31:08.500 This could have been negotiated over the last 00:31:08.500 --> 00:31:10.180 two weeks. They could have worked with their 00:31:10.180 --> 00:31:11.839 landlords. This is what would have been done 00:31:11.839 --> 00:31:14.200 in the ordinary course and what is done in 90 00:31:14.200 --> 00:31:17.180 % of these cases. And it just simply was not 00:31:17.180 --> 00:31:19.539 here. We should not now be punished for that 00:31:19.539 --> 00:31:21.660 lack of their reaching out and their working 00:31:21.660 --> 00:31:24.539 with the landlords. We're standing by. We're 00:31:24.539 --> 00:31:26.400 ready to negotiate the side letter agreement. 00:31:26.579 --> 00:31:28.920 We're confident we'll get one done. But we don't 00:31:28.920 --> 00:31:33.140 want to be punished and deprived of due process 00:31:33.140 --> 00:31:36.660 by an exigency of their own making. Your Honor, 00:31:36.880 --> 00:31:38.920 to the question you asked earlier, I understand 00:31:38.920 --> 00:31:41.579 that the committee is hiring counsel today. I 00:31:41.579 --> 00:31:44.200 also anticipate, as Your Honor does, that the 00:31:44.200 --> 00:31:45.720 committee's counsel will likely want to weigh 00:31:45.720 --> 00:31:48.140 in on this. And so at the very least, Your Honor, 00:31:48.160 --> 00:31:51.680 we would ask for till Monday. delayed ruling 00:31:51.680 --> 00:31:54.339 until Monday to allow all the parties to work 00:31:54.339 --> 00:31:58.680 together and try to negotiate something. All 00:31:58.680 --> 00:32:03.059 right. Does anyone else wish to be heard? Your 00:32:03.059 --> 00:32:06.619 Honor, just briefly. Yes. Your Honor, I agree 00:32:06.619 --> 00:32:08.700 with what Ms. Miller said. I also just wanted 00:32:08.700 --> 00:32:12.019 to note our client, JVP Retail, is a committee 00:32:12.019 --> 00:32:14.180 member and they are currently in the process 00:32:14.180 --> 00:32:16.740 of selecting counsel. The committee has asked 00:32:16.740 --> 00:32:18.619 that they do have. I know your honor noted it. 00:32:18.619 --> 00:32:20.380 I just wanted to reiterate the committee has 00:32:20.380 --> 00:32:22.799 asked that they have the opportunity to weigh 00:32:22.799 --> 00:32:27.259 in on this motion. All right, anyone else wish 00:32:27.259 --> 00:32:32.099 to be heard? Hit five star one time. Thank you, 00:32:32.099 --> 00:32:33.680 your honor. Can you hear me? I can hear you. 00:32:34.079 --> 00:32:36.980 Yes. Yes. Good afternoon, your honor. Justin 00:32:36.980 --> 00:32:40.019 Burnbrock of Sheppard Mullen on behalf of Chanel 00:32:40.019 --> 00:32:47.630 as well as Akris and Ralph Mullen. The council 00:32:47.630 --> 00:32:51.670 from Brookfield just reported what I was sent 00:32:51.670 --> 00:32:54.829 here directly from the committee call, which 00:32:54.829 --> 00:32:59.410 is ongoing on another line to ask your honor. 00:33:00.130 --> 00:33:04.289 Chanel is co -chair of the committee. We are 00:33:04.289 --> 00:33:08.910 presently deliberating council selection and 00:33:08.910 --> 00:33:13.670 anticipate announcing that very, very soon. And 00:33:13.670 --> 00:33:18.670 so if there could be a very, very brief delay 00:33:18.670 --> 00:33:22.210 until such time as council has had an opportunity 00:33:22.210 --> 00:33:24.950 to weigh in on this after the committee's twice, 00:33:25.069 --> 00:33:28.970 it'd be greatly, greatly appreciated. All right. 00:33:28.970 --> 00:33:35.490 Anything further? All right. So I view this as 00:33:35.490 --> 00:33:39.569 a relatively routine motion. I think it's perfectly 00:33:39.569 --> 00:33:43.410 within the debtors business judgment to do this 00:33:43.410 --> 00:33:48.670 I I want to be sensitive to the committee and 00:33:48.670 --> 00:33:53.130 the the landlords so what I'm going to do is 00:33:53.130 --> 00:33:56.730 you know subject to an agreeable form of order 00:33:56.730 --> 00:34:03.269 by Monday I will wait until Monday at 5 to consider 00:34:03.269 --> 00:34:07.779 the order if there isn't agreement then we will 00:34:07.779 --> 00:34:11.139 have a continued status conference on this with 00:34:11.139 --> 00:34:16.880 respect to the order Tuesday at 1230 at noon. 00:34:17.019 --> 00:34:19.860 And then the final hearing on this will be very 00:34:19.860 --> 00:34:24.380 quickly on February 13. But as I indicated, I'm 00:34:24.380 --> 00:34:30.119 inclined to, you know, I really View this more 00:34:30.119 --> 00:34:32.940 as a timing. I mean, I'm going to approve the 00:34:32.940 --> 00:34:36.179 order I think we just need to go through allow 00:34:36.179 --> 00:34:41.079 the committee to look at it And and allow there 00:34:41.079 --> 00:34:44.900 to be discussions over the weekend During this 00:34:44.900 --> 00:34:48.239 now as it relates to the custom program aspect 00:34:48.239 --> 00:34:50.900 of it, which is really very limited I'm going 00:34:50.900 --> 00:34:54.559 to go ahead and orally approve that so that there 00:34:54.559 --> 00:34:58.010 isn't any especially since the digital debtors 00:34:58.010 --> 00:35:02.949 have already started their process. So that's 00:35:02.949 --> 00:35:07.369 my ruling, but I really would like to have the 00:35:07.369 --> 00:35:10.250 weekend and all day Monday for people to look 00:35:10.250 --> 00:35:13.590 at this, and then I won't consider it. And unfortunately, 00:35:13.929 --> 00:35:15.889 Monday and Tuesday of next week, and probably 00:35:15.889 --> 00:35:18.650 Wednesday, I'm in a contested confirmation hearing. 00:35:20.590 --> 00:35:25.219 So Monday, Tuesday at noon, or at 1230, let's, 00:35:25.420 --> 00:35:28.500 Tuesday at 1230, it'll be the only time that 00:35:28.500 --> 00:35:32.300 I'm gonna have to actually look at this. So it's 00:35:32.300 --> 00:35:35.059 a brief delay, but I think under the circumstances, 00:35:35.380 --> 00:35:40.559 it's appropriate. Thank you very much, Your Honor. 00:35:40.920 --> 00:35:43.880 All right. All right, any other thing that we 00:35:43.880 --> 00:35:46.440 can do today? Oh, wait a second, somebody else 00:35:46.440 --> 00:36:01.960 raised their hand. All right, somebody from the 00:36:01.960 --> 00:36:07.559 516 area code. Your honor, this is Dan Fiorello 00:36:07.559 --> 00:36:10.179 from Otterberg. I had raised my hand, but your 00:36:10.179 --> 00:36:12.539 ruling had addressed a question I was going to 00:36:12.539 --> 00:36:15.519 ask, so you can disregard the hand raise. Okay. 00:36:16.079 --> 00:36:21.440 All right, anyone else wish to be heard? Hopefully 00:36:21.440 --> 00:36:24.920 I'll get an order with everybody to anybody's 00:36:24.920 --> 00:36:27.719 satisfaction and I'll sign it 501 on Monday. 00:36:29.960 --> 00:36:33.059 Thank you. All right. Thank you. All right. We'll 00:36:33.059 --> 00:36:37.239 be in recess to 3 o 'clock 2 o 'clock