I agree, the Broadbill case should be decided prior to the effective date, because it effects distributions to classes below the Class 12 "General Unsecured Creditors". Even if Broadbill were to loose, it would go to appeal immediately.
The case is pretty strong for Broadbill. The LTW's should have followed along to JP Morgan with the cash benefit. The fact that the debtor separated the cash from the LTW's, broke the bond between them and the debtor has to accept responsibility for that. The debtor is fighting this so hard because they screwed up in their analysis of the LTW's and our counsel has agressively pointed out the their error.
My primary question, Is the $337 LTW reserve set aside in the current Class 12 "General Unsecured Claims" which has a current reserve of $375 million? If another $337 million would have to be added to the existing $375 million, that would have a negative effect on all the classes below class 12.
