Well, on this I agree, because you took my comment out of context. Alice is looking for Bankruptcy remote assets and the “vehicle” she is using for discovery is the Underwriters.
Rosen is trying to shut her down by claiming there is nothing to discover inside the Bankruptcy, while wording it cleverly to deceive as if the Bankruptcy Court had jurisdiction over what Alice is seeking to discover that is actually outside the Court’s jurisdiction. The EDNY Judge has a broader scope than a Bankruptcy Judge and can order discovery.