John Zito

He wouldn't engage.

Yeah.

He just wouldn't.

And it was like, sure.

And you could tell.

He was like, who is this person?

Yeah.

I think in November, we caught wind that they were going to try to... And by the way, I probably did 20 calls and two or three dinners with him.

He heard what I was saying, but he didn't... He was just worried that I was trying to do something that was not in his best interest, which I understood.

You can get that.

They hire Mollis...

And I catch wind of it prior to it that they're going to launch a super coercive exchange.

And this is before the idea of co-ops.

Co-ops are where you actually partner with other creditors and agree that no matter what, we're going to take the same deal so that they can't take other lenders and give them a better deal versus us.

So we said, listen, guys, we're the lenders.

There's a company.

We're going to figure out a good deal together, but it's not going to be because they'd pin us against each other.

So it was a $5.5 billion of outstanding debt coalescing $5.5 billion of debt.

requires you to have known these people for a long period of time.

And the credit markets, whether or not you accept it or not, it's a cottage industry.