But Judge Pierson ruled the two issues’ votes could not be combined.Impac understood its intention in drafting its Articles.According to the judge, Impac did not understand the language in its Articles.Judge Michel Pierson, writing the Memorandum Opinion filed December 29, 2017, page 18:The most tenable inference from the evidence is that the language was simply copied without any express consideration of its application or meaning on the part of the persons who drafted the Impac Articles. But there is no evidence concerning the process by which the language was drafted for the MFA Articles. The statement that it was intended to provide for collective voting doesn’t explain why it was thought to provide for collective voting; it is a statement of intent of the drafters but it doesn’t explain why the way that language was fashioned was thought to carry out that intent.»Paraphrasing the judge, Impac intended collective voting; but the drafter of the Articles copied Articles from an unrelated deal (the MFA deal) that did not describe collective voting.
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