In re Hercules Offshore, Inc.

*735OPINION ON CONFIRMATION2.

KEVIN J. CAREY, UNITED STATES BANKRUPTCY JUDGE

“Will you walk into my parlor?” said the spider to the fly; 3

“ ‘Tis the prettiest little parlor that ever you did spy.

The way into my parlor is up a winding stair,

And I have many pretty things to show when you are there.”

“0 no, no,” said the little fly, “To ask me is in vain,

For who goes up your winding stair can ne’er come down again.”

To put it into terms employed by the Equity Committee, the central dispute for determination by the Court is whether the lender (spider) here “conjured up immaterial defaults,” catching the…