So here's the deal:

NETCO will be 100% owned by UBS

The NETCO structure in principle is agreed but there may be some further cuts to it

Creditors committee were present at the auction which lasted all night and have, ergo, agreed the result

Dox will go to the judge this weekend and he is expected to approve by Thursday

The deal will feature an income stream going back to the estate over a number of years but clearly not via an equity ownership

DP