Catz: one additional point. I believe it should be said that once the judge ruled that TPS was to be treated as prefs (law of the case and all that), the EC - which represents equity generally - essentially became the official representatives of TPS, with - as you pointed out the ability to negotiate a finalize a deal even if TPS doesn't like it.
Any legal analysis I post may not be relied upon by anyone for any
purpose. If you want legal advice you can rely on, hire a lawyer.
