LOL didnt I just say that? I said it was paltry, but they did NOT get
'wiped out.' That means 0. They got a sorryass small recovery.
Class 16 was supposed to get 34%, and walrat etched that in stone. That was lowest preferred/creditor, they ended up getting just about 80% of that. Commons and preferreds got less.
Futhermore UPTICK, walrat the corrupt scumbag judge in that case shouldve made damn sure that Class 16/WAHUQ got 100% before any commons or preferreds got a thin dime. But, these communist BK judges are above it all, and are allowed to violate absolute priority BK rules at will.
And she only did that to make the EC charges of insider trading during that bankruptcy (yes, it was proven, the hedgie boys were caught red handed colluding with rosefraud and starke) go away. Willyboy and the EC accepted the crumbs. I get it, it was the crumbs or nothing.
