Tuesday, September 22, 2009

So now that the proposal has passed...?

With the success of the proposal passing, we have accomplished one more HUGE milestone towards bringing our baby home. The YES vote means that the creditors have accepted the restructuring plan and the agency can resume operations. However, before the agency can officially be brought out of bankruptcy, the plan must be approved in court, which is scheduled for September 29, 2009. From what I understand, the court approval is simply a formality and I will pray that the outcome is as such. Operations are expected to resume on October 1, 2009, which means:

* The bankruptcy trustee can release funds to the NEW agency.
* The agency can start flowing dollars again.
* The new board of directors can begin governance.
* Orphanages can be paid (they have not been paid since before bankruptcy).
* Relationships with orphanages can be re-established.

The biggest issue for me in all of this right now is the relationship with orphanages. Our success in re-establishing relationships with orphanages will determine when referrals will begin. Currently, the restructuring plan states that referrals will begin April 2010; however, I remain optimistic that these projections are conservative (as they should be) and provide only a "worst case scenario" view, and that referrals will resume as soon as their are children available. So for me, our BIG celebration will come after the first referrals are announced. Right now, I can't say whether it will be 4 months, 6 months, 9 months, or 1 year before our referral, but I suspect that ours will follow within a few months of the first referrals. I can't wait to get back on track!!!

One thing I now know, with confidence, is that I WILL BRING MY BABY HOME!!!!

7 comments:

The Mannings said...

So exciting!!!!

Alysia and Derrick said...

Great post! I can't wait to read that you have your referral! I thought you were VERY close to having a referral for some time, so I'm sure you indeed will be not far behind the first referral. That is GREAT!
Alysia

june said...

Fingers crossed for the court approval and the first few critical months!

Ramona said...

I'm so happy this passed. I too hope the rest falls into place and then you can go on to the next steps and then lets find out who your baby is!!
Ramona

Natalie and Chris said...

Yes we WILL all bring our babies home. It's been a rough road but we will get there together. Take care, Nat

Sarah Rodgerson said...

yay, this is so promising. I cannot wait to read the news of your referral! You were so close....

Ashleigh, Ben, Noah and Tait said...

Hey Laura,
So you found me, eh? :) I have to admit I found you awhile ago and checked in every once in awhile...mainly b/c I saw that you guys arrived in Ethiopia just a couple months before us. (Maybe it was through the Yahoo board?...or just blog association.)
Thanks for commenting - I often wonder who has found us.
Looking forward to COMPLETING this journey with you (or soon after!)
Ashleigh