ESSAYS & CRITIQUES
Brooklyn Mirage Bankruptcy Plan Fast-Tracked in 17-Minute Hearing
In just 17-minutes, Judge Walrath approved AGDP's late-night plan (Dkt. 583)–admitting she'd not reviewed it. Faris (Young Conaway/Axar) hyped CEO Gary Richards endlessly; Verita's older rep stumbled on foggy technical point. No objections. Confirmation done.
Key Roles: Richards (CEO), Yazhari (plan admin), Nahas ($15K/mo trustee ahead of unsecureds). CVR now $90M trigger + $3.5M guaranteed.
Pacha eyes June relaunch post-demo–but NYC DOB permits? Unrealistic timeline. Creditors wait. Transparency alarm sounded harsh.