**The EC and Susman probably have a good idea of what the Examiner is going to find here. Otherwise they would not have even pushed for one. The reason they went for it in the first place was because the debtors, JPM, FDIC simply refused to even recognize them - much less provide documents as directed.
The denial of the Examiner was actually a blessing in disguise because it allowed Walrath to wake up finally and see the malfeasance being conducted by Rosen et al.
The objections to the Examiner were vehement in the first round - and they won. They probably thought they could then stall the EC for years if necessary while pushing through the DS/POR.
The game changed the day Susman brought them into chambers - there is no doubt there. The Examiner approval went into high gear and that was the monkey wrench in Rosen's plan.
Whatever transpired in chambers turned the tide. Otherwise we would still be hearing excuses from Rosen about document production to the EC, lol.
The Examiner obviously saw enough to request more time, even an extra three weeks beyond Walrath's 10/8 date. If there was no smoke the Examiner would not have ventured into the forest after 9/7.
So, yes, I imagine the EC and Susman are confident. Why wouldn't they be? Simple message board posters figured out the ruse here long ago. We just didn't know WMI would turn on its owners - the shareholders until Rosen started attacking equity in the hearings.
It honestly would not surprise me if the Examiner requested more time beyond 11/1. Possibly to January 2011 for a final report.
The tide is turning in equities favor. Why doesn't the pps reflect this? Many reasons. But it's just going to take one statement from the Examiner to change that, especially for the Preferreds:
A > L.
