This is just a SWAG but my thought is that while they have "traded" they haven't settled (ie, cash has not changed hands). Why would it take so long to settle, one might ask? Hmm, BB, et al, didn't want the trade to appear on any of the monthly statements leading up to the EC hearing? Or, as Uranium pointed out, this cash will simply go to the first lien holder. Who is that, one might ask? Well, well, guess who? Wells Fargo.
Hmm, why does this name keep appearing when something non-transparent happens? There is a high correlation between that name and common equity taking it in the short hairs.
