As a Sandridge commons only shareholder, I find it hard to believe that such precedence set in 2012 by a FEDERAL bankruptcy judge can be so quickly ignored. Broad Releases killed multiple plans of reorganization in Delaware judge Walrath's court for Washington Mutual in 2012. Same application - the debtor Sandridge can't on one hand give zero to an impaired class, and yet force them to grant broad releases with the other.
Specifically with WMI, forcing broad releases for literally 'officers and directors', killed the debtors plans over and over, till amongst other issues, they were forced to include common equity.
Officers and Directors don't get releases, so impaired class holders can sue their pants off if we wish, using the SEC investigation whistleblower as ignition. You either let us in the room, or we kick the door down.
There's more than one way to skin this cat, imo.
