fsshon, your take on these chapter 11 cases being stayed due to jurisdictional issues are very real and we will see how much this case has to do about control in Walrath's court which I think is EVERYTHING and here is why.
You have tried to tell me Walrath did not zero equity out in her opinion on 1/7/2011 and I have to differ. I understand she let equity have a shot at the NOL's via insider trading allegations from Thoma that she could have easily ignored. Yes, I will agree with this, but this Judge gave our ENTIRE ESTATE away to her criminal allie JPM whom she is/has been aiding/protecting, leaving us with maybe the NOL's and the new company. How can anyone say this is even remotely correct or in fact legal. I bet ANY jury would cite this Judge with aiding and abetting multiple crimes if given a chance and I know, unfortunately that will never happen. I have no doubt this Judge will nail to some degree, these Hedgies, as this was her agenga and nobody else's except Thoma, whom she could have ignored very easily. She has proven this with Ilene, whom she ignored with the Boli/Coli issue that Rosie lied in open court about.
Walrath has PROVEN to me through her actions that she is aiding/protecting JPM and if you think she is going to give up control, I think you are dreaming. The very fortunate happening to equity are ANICO/STERN and these other court rulings to nuter Walrath from approving this POR. The next best action for her to keep control and AMAZINGLY a huge turnabout and completely uexpected action, considering her frame of mind during her last opinion on 1/7/2011 is to keep control for a settlement, she has to deny the plan. This is quite shocking in that her denial will be to ensure a settlement, thus protecting JPM to the extent she can in HER COURT before moving the case forward.
