Free Declaration - District Court of Delaware - Delaware

‘ A Case1:O4-cv-01498-KAJ Document 18-4 Filed O4/08/2005 Page1 of4 _
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.1 1 Comer: ¤..~.:¤.....?ee ’ ‘ ’ 1
2 . MR. D. ROSNERz We"ll look at the language, -1:ha.nk V
3 you, Your Honor.
4 THE COURT: A11 right-.
5 MR. RICCIARDI: Your Honor, we "haven'1: seen any
6 proposed Order, ‘
7 THB COURT-= You have what'?
5, MR. RICCIARDI: we have not seen any propo cd Order.
9 THE COURT: I haven't eeither. _ o 1
10_ MR. RICCIARDI: Okay. `
11 THE COURT: Why .don't: you -- you want to gEt together
12 A Bhd get an Order? Do you have A proposed Order? V
• 1-3 MR. SELBST: Your HOHOIT, may I ask one question for ,
4.4 c1ar1f:1.oati1on‘? A
15 THE COURT: Bute.
16 1 MR-. SELBST: The ,..... as §1·ée¥tié11i:`.~·e Aeqset 1?u1`¢h·¤¤¤
w. Agreement: Eanareis l 1
18 _ clegtm ega_i‘ne‘1: 1Pré’e.e4:ek- of e1.1,Eet;~at;e, Are you saying
19 . That: You are not prepared to approve that., Your Honor? Vi
20 wma coum. No. L
21 M12. SELBST: Okay. . Your- _HQ1‘1€>r‘_,» _Pxe‘s¤1:ek is no:
22 ’ preparedvueo go forward wich that claim. »
23 THE COURT: Why not?
24 MR. SELBST-: Because ——
25 THE COURT: You said »you’d defend it.
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, ° ~ Case 1:04-cv—O1498-KAJ D0cument‘18-4 i Filed O4/08/2005 Page 2 of 4 1
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1 l 3 in V l MR- SELBETQ A We V—»' ‘,.: fi? z
2 a claim. ..beld,eve we .,£Q1`_..¤ A»Ae Q _
3 ` .p1»es¤1;_¤¤e,-1 we-1 Qléim E
4; whieh;1iHey"iHeHu;ified as· la ‘c1aim-z-under the S1:ockFPu;t·c:jhaS& .»__ Sj-
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l 8 " V THE QQURT; 5;; they have aa third-patty .bB¤€fi¤iéi;};. U Z
g case against you. ~
10 MR. SELBST: They claim they do.
11 THE COURT: Well, that:'13 noi; Ielea e, is itz? _ _
. 12` SELBST: Pardon me? Z p
· 13. THE COURT; ‘I¥h.a‘1;'e not: subject to raleaae, ·
V 14 l SELBST: That’s 1101: subject to release, I agree
*15 with that, Your Honor. U
16 MR. D. RGSNER-; However, Your Honor, if I may speak
17 to that. ·- ‘
18 THE COURT: Yea. · -
, 1,9 ` MR. D1. ROSNER.: Th;&h'B a. $354 million claim. Our
20 - third-party beneficiary claim i limited to one provision of ll
21 the contract. We do not have thirdepaxty beneficiary contract. V V k
1 22_ I1:'s my xmdemuanding (indiscem.) contract. Tha1:*s the claim
28 that we•ve been °YZ,’é\1ki‘3`1g about today. l »
,24 ’ THE COURT: What page are you cn?
1 25 { MR. SELBVST: Yom: Honor, I believe 11:*1; section --
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, N l · Case 1:04-cv-01498-KAJ Document 18-4 Filed O4/08/2005 Page 3 of 4 1;1
• 93
1 1 reérileot not only to the ha1f..1ni1,li¤n· 1 2 Q cap, but whether in fact Your Honor agreed with the c¤mmi1:1:ee•¤ 1
3 view that Presstek had in fact committed ·1:o assume, if not owe, T
4 a substantial number of what we would call the vendor c0n·tact·s, ,
5 l BHG this ··
6 THE COURT: I read the —— I left it in Chambers,. bm;
7 that said all contracts-. W
8 l l MR. JOSEPH; Excuse me, Your Honor.?
_g THE COURT; 'lihatws right, ·you're right.
1Q MR. JOSEPH; So with that we believe that paragraphs I
11 is R I-- paragraph R on page 7 and paragraph 6 QH PHQB .9 do 11013
12 accurately reflect the Pros-stek Qommitted `bid at the auction
· 13 z and need to be revised accordingly. With respect to the MHR
14 Order, I 've not had a chance to review it, but in concept Ifve U ;
15 I discussed it with counsel to The Committee doers not
15 oppose the provisions that MHR, hasadded, but believe that l
17 ’ paragraphs -— I think that contains the same paragraphs Rand ig,
18 6, and those should be revised in that Orqer, if that-'-s' the one n
19 Your Honor is inclined to accept. " _
20 THE COURT: Well, that Order's the same as this A
21 Except that they rewrite paragraph 13..1*7 ·-
22 MR. JOSEPH: Exactly, exactly,. z ‘
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24 en<1.x¢ad‘°¤1h¢lHereémevt. the- EPR wd SMS very speci-fic
.25 the releases from the beginning of the wo:1:¤1.d to the end of the .A
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1}) . 1 - Case 1:04-cv—O1498-KAJ Document 18-4 Filed O4/08/2005 Page 4 of 4
• l 194
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I 2 . haye1;said.11:1hat becauae clidn-'t»1have any knowledge ot the · V
3 1 railaa-ea1» ,cl;ause·.;. ·S¤».-i:¤eape¢tive» cf-. ·h11a¤=,ma¤:.e¤. eff
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51 MR. JOSEPH; So with reanpect then —— ,
B j THE COURT: But now where do we et-and on this cap for l
7 the contracts and 500,0007 If you don'1: want to live by the `
.3‘ agreement you may. at the auction, and thatia -what 11‘»m ·9<>i11<3 ¤¤
gi do. 1I*m going to make you live to it, if you don*1: want to. A
1Q appeal it, but that's the wo1:·d·you.r .representaVt’ive made as far
-11 as I'm concerned. It'e very specific. 2
12 __ SELBST: Your Honor, respectfully, client l
13A believes that they were reserving the right to designate other
14 A contracts to be assumed and not to be assumed, and 11:eapectful‘ly
1.5 if Your Honor is saying that he will only condition the sale
1_6 j upon the assumption of aljl contracts Preeetelvs not prepared to A
T7 proceed. V
TB THE COURT.; Well, you irevrrite this Order to include
19 y the specific language that was said at the auction hearing on
20_ page 9, and 1*11 eign that Order, If you do11’t. want to go
21 l along with it then 1I bhiilk you'x*e going to entice some very j
221 serious litigation.
23 MR. SELBST: I understand Your Honor, very clearly., —
24 1 THE COURT: I"m going to have to reject your proposed `
25 I Order relative to the assumption of the contract, and you can V
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