This excerpt taken from the MIR 8-K filed Apr 18, 2007.
4.6. Legal Proceedings. Except for Tax matters, which are the subject of Section 4.9, employee benefits matters, which are the subject of Section 4.10, and environmental matters, which are the subject of Section 4.12, there are no Claims (including, without limitation, Governmental Authority investigations or audits), pending or, to the Knowledge of the Seller, threatened against any such Portfolio Company or any of its Assets and properties that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.
This excerpt taken from the MIR 8-K filed Jan 18, 2007.
5.4 Legal Proceedings. Buyer has not been served with notice of any Claim, and to Buyers knowledge, none is threatened, against Buyer which seeks a writ, judgment, order or decree restraining, enjoining or otherwise prohibiting or making illegal any of the transactions contemplated by this Agreement.
This excerpt taken from the MIR 10-Q filed Aug 8, 2005.
The descriptions below update and should be read in conjunction with the complete descriptions in the section titled Legal Proceedings in the Companys Form 10-K for the period ended December 31, 2004 and the Companys Form 10-Q for the period ended March 31, 2005. Also see Note F Litigation and Other Contingencies to the unaudited condensed consolidated financial statements contained elsewhere in this report for further discussion.
This excerpt taken from the MIR 10-K filed Mar 15, 2005.
As debtors-in-possession, the Mirant Debtors are authorized under Chapter 11 to continue to operate as an ongoing business, but may not engage in transactions outside the ordinary course of business without the prior approval of the Bankruptcy Court. As of the Petition Date, most pending litigation (including some of the actions described below) is stayed, and absent further order of the Bankruptcy Court, no party, subject to certain exceptions, may take any action, again subject to certain exceptions, to recover on pre-petition claims against the Mirant Debtors. One exception to this stay of litigation is for an action or proceeding by a governmental agency to enforce its police or regulatory power. The claims asserted in litigation and proceedings to which the stay applies may be fully and finally resolved in connection with the administration of the bankruptcy proceedings and, to the extent not resolved, will need to be addressed in the Plan. On November 19, 2003, the Bankruptcy Court entered an order staying most litigation pending against current or former officers, directors and managers of the Mirant Debtors arising out of the performance of their duties and against certain potential indemnitees of the Mirant Debtors. The Bankruptcy Court took that action to avoid the risk that the continuation of such litigation would impede the Mirant Debtors ability to reorganize or would have a negative impact upon the assets of the Mirant Debtors. At this time, it is not possible to predict the outcome of the Chapter 11 filings or their effect on the business of the Mirant Debtors or outstanding legal proceedings. The Mirant Debtors intend to resolve as many of these claims as possible through the claims resolution process in the bankruptcy proceeding or the Plan.
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