Dime Bancorp Inc (fka DIMEQ)

[goldcanyon341]

510(b)

is something the debtor pulled out of the hat in desperation. It is kind of opaque in its nature and the purpose behind its use was and has created confusion. The debtor is just throwing mud at the wall hoping something will stick. Let's face it, the debtor never expected to run into a buzz saw named Art Steinberg.

The fact that Art Steinberg was not in court on December 8th is telling. We cannot have a Disclosure Statement without handling DIMEQ and if the treatment of DIMEQ was less than satisfactory, Steinberg would have been in court. He would simple wait for a Court decision versus being included in the Disclosure settlement.

With a settlement, JMW is off the hook for making a decision. Personally, I hope the settlement modifies the GSA and sends us back to Judge Block's court. That would simplify matters for the entire estate.