there are several aspects
we need to consider historically for what happens next
1) Bk said holdco is owner, legal and equitable because check in name and contract clear that no agency relationship because no control under state law
2) the lower courts ruling overturned this and introduced Bob Richards framework, and the contract language ambiguous which is in favor of bank **this is the ruling in question per which certiorari was granted**
3) the fdic modifies argument at scotus: Bob Jr, contract language, AND agency no matter what per IRS using word agency
so yes as I said, I can potentially see this being overturned because if BK is the state law expert (per Kavanaugh), and Bob Richards shouldn't be applied (per Roberts, agreement spin from Huston), and possession is 9/10s of law, and agency label is insufficient - then the BK court got the it correct and the 10th ruling should be overturned. However the justices seemed keen on sending it back to the 10th for interpretation of state law.
alternatively, because contract law appears to be governed at the 10th, and in-light of the aforementioned, the justices - as stated several times - could vacate the decision based on no Bob Richards, only use state and contract law and remand back to the 10th.
