First of all we have seen "hide nor hair" of Steve Susman since he walked into the courtroom with the docs that had to be sealed. He produced something that altered the Judge's thinking after that day, but as we all know it is now sealed and can not be asked to be unsealed for another 2 years. So, someday we will find out what it was..
As for his motives.. He had a constituency that was getting completely and utterly zeroed out, his best bet was to save them from iradication, so they could live to fight on and his firm could be the "3rd party litigation" firm pushing for settlements from the parties responsible for putting the holding company into Bankruptcy.. We are not done in this bankruptcy court "yet" which means the EC can settle with other 3rd parties to pad the books on the way out. Even though the suits have not been brought yet ( I am sure they are being drafted as we speak) that does not mean Lawyer-to-Lawyer could not speeak on behalf of their client and hammer out a settlement that would put that parties litigation obligations to rest.
Many just want to move on and leave this mess. SG wants to be the contingency firm that is hired by the Litigation Trust to execute the "3rd party" paln of attack. As we all know in Jan 2011, we were trying to be extinguished, it was Judge Walrath who under the guise of the "hearsay rule" alerted the Equity Committee to "the fact" the court thought the Thoma Allegations should be investigated and if the EC brought the Rule 2004 Motion into play, the court would be much obliged. Here we sit.
We lost the run-off of WMMRC, but we retained the company, half of the litigation proceeds and an interest in the liquidation trust.. This is much better than we had back in Sept 2010 when Rosen and Special K were working 25 hours a day to kill us off..
WE MUST BE HAPPY WE ARE ALIVE, IT DOESN'T MATTER WHO IT WAS THAT SAVED US, THE FACT THAT WE MAY JUST INK OUT A RETURN ON THIS INVESTMENT IS ENOUGH TO SAY "GOOD JOB SUSMAN GODFREY, NOW GO GET THE REST OF THE GUILTY ONES TO PONY UP THE DOUGH!"
As for the GSA, it is done, over with... The only thing that can stop that train is too produce evidence it was clearly negotiated in bad faith, with intentional harm to equity being a requirement.
~Don~
Sometimes You Just Have to See the Light Thru the Trees !!!
