Wow. Guess it is true that the holidays are actually the most depressing times of the year for most people. It just amazes me how posters have spent 24 months of their life here doing their due diligence, learning about bankruptcy proceedings and law and then rely on the silliest of things to erode their own confidence. Construing Walraths statement to mean she intends to confim the plan is far fetched to say the least. Freudian slip? Tongue-in- cheek? I think Catz hit the nail on the head with her/ his interpretation. I mean if she was in Rozen's pocket why not just keep her mouth shut, instead of giving the opposition ammunition to use for an appeal. It would directly indicate that she decided the case before hearing or taking any evidence into consideration. Everyone seems to be in agreement that she wants this case to go away. It only goes away without appeals if everyone gets a piece of the pie. My thinking is the releases without consideration is blatantly illegal so someone has to come up with some money for that consideration at a minimum . Then we have the 700,000,000 federal judgment interest rate differential. Then we still have the tax sharing arguments. It still adds up for the preferred imho. So don't you expect Walrath to be letting her feelings be known at this time to all sides. Hey, these nols seem to have billions of value to them, why can't we have equity share in a percentage of them? Why can't we have a couple hundred million thrown here and there so I can confirm this. Maybe equity already has a deal cut, maybe they don't. I think their objections to the por were adequate to prevent confirmation. They are doing their job. People just have to realize we are not their direct clients and it is the best course of action for them to remain mum on their plans. They want a recovery for equity...but they do not care about the day to day price of the shares. I find comfort in knowing that jpm, the fdic, rozen, etal are equally shaken about the confirmation process. It is the nature of litigation. Uncertainty is what causes settlement. I just don't buy into the theory that Walrath appointed the ec, the examiner, allowed for Solomon, etc all for show or that she is going to go against her own opinions or third circuit law to pacify jpm, rozen, or the fdic. JMHO. GLTA. Should be some fireworks this week.
