I agree that the court set aside a reserve of $337 and Dimeq interested are protected "IF" Dimeq is to be classed as Class 12, however, if Dimeq is ruled as being Class 18, that reserve is moot since the estate fund distribution does not even reach Class 18. Any money reserved would flow right back into the waterfall and into Class 16. Same for Class 21, reserve is moot and goes right back into the waterfall.
While I do believe that Dimeq does have a cause of action derived from a breach of contract, I do believe they will prevail, however, it is a question as to where they will be classed. If you ask me, I say Class 18 (Flame suit on), because Dimeq, imo, is an equity that had a claim and became a creditor, however, subordinated because the "security" being separated from the warrant re: 363 sale, and not debt.
Even if Dimeq filed an appeal, imo, it would be equitably moot because if the Plan is confirmed and distributed, that is it.
... and I, as most everyone on the other side of the GSA, do not the like the GSA, however, the Judge ruled it "fair and reasonable" and we to live with that and work with what is on the table.
Disclosure: I am not for nor against Dimeq. I am only interested in the outcome. I understand some will be a little more biased because they own such security, which is understandable.
Cheers and Happy Holidays.
imo
