I agree with you about the EC lawyer. Veneable really screwed this one up. How could they have been blindsided by this? It's either gross incompetence or they are in bed with JPM as well.
Unfortunately no one can be trusted anymore. Based on the waterfall calculations, PQs will be in the money. Commons, man I really don't know anymore.
I will give Veneable a chance to redeem themselves with their filings.