The public aspects of bankruptcy have been almost completely abandoned by O'Sullivan Industries, thanks to rulings by Judge C. Ray Mullin of the U. S. Bankruptcy Court for the Northern District of Georgia.
Another such ruling was issued Monday. According to court documents, O'Sullivan officials can file under seal an exhibit "authorizing them to pay commitment fees to potential exit credit facility lenders, including their reasonable attorneys' fees and expenses, up to the aggregate amount of $200,000, to provide information to potential exit credit facility lenders and related parties, and to enter into fee letters and/or commitment letters with potential exit credit facility lenders."
Obviously, it is going to be hard for anyone to examine the steps being taken by O'Sullivan officials as they continue their efforts to emerge from bankruptcy. Meanwhile, workers at the Lamar plant will have to hope these gentlemen, from the spacious comfort of their new corporate headquarters in an Atlanta suburb, will make the types of decisions that will enable them to hold on to their jobs.