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Originally Posted by LouisVanDerWright
Wow, the drama continues. While it's not an enormous issue, it seems odd that Kellher would be trying to loosen Atlas' grip on his project. Perhaps he's been getting interest in the project from other groups? Or maybe he has lost confidence in Atlas?
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IMO, much more likely that: 1. Atlas has a shaky proposal (unlikely a written one) from Ghassan that the Spire has zero chance of funding unless and until Kelleher goes bye-bye. So, the delusional Kelleher wants to squeeze Atlas for a better kiss goodbye by asking the judge to open up the door to proposals from other developers (of course, causing more delay). And, when Judge Baer asks Atlas' lawyer if Atlas can come up with the money, the answer was a definite maybe - we think we can get it. "“Atlas believes it can satisfy the court that it has a commitment,” Mr. Bacon said, though he declined to say more, citing “the press in courtroom.”
Or, 2. Atlas cannot get the money, Kelleher is freaked (on top of being delusional) and wants the judge to hold off until he can shop around a new deal. If the article can be believed, Kelleher's attorney told the judge that Kelleher still wants to build the Spire and the judge mockingly replied "Everyone on the face of the earth knows that."
Judge Baer still hasn't ruled on the plan. She will have to be convinced the Atlas plan is sufficiently feasible to let the creditors vote on it. Even if the judge sends it out for a vote, how do you think the main secured creditor, Related, will vote if the full amount of money is not contained in an iron-clad written agreement and already escrowed?