Wednesday, February 09, 2011 12:46:09 PM
DTC has only records that were CLEARED by them.
Missing:
Voice trades not cleared by DTC.
Off exchange trades....CDS are not cleared.
But, CDS that went through physical deliver are. CDS that were cash settled may not have been.
POS JMW said discovery on post-petition. THAT was a HUGE victory for the Senior Note Holders.
EC messed up, No CDS, No pre-petition.
JMW does not want to expose the CDS issue. She uses hearsay in her rulings. CDS are hearsay, but she does not want to handle it. I dont like her way of handling facts vs hearsay.
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