As you know, (I'm reiterating for the benefit of all...) the first is a deadline for the brokers to send in the results of voting on the Master Ballots. The second deadline is for the brokers to send in any remaining releases after the voting deadline - or, if they missed the voting deadline for whatever reason, to allow the releases to count all the way up to the day prior to the Effective Date.
The brokers, however, are only required to do anything about the actual vote, not the releases. (It's a release disguised as a standard shareholder vote, really.) Once they fulfill their obligation to tender votes prior to the voting deadline, their job is technically done. They *MAY* send in a second Master Ballot with any late votes (...releases...) but they are not required to do so by any mechanism I am aware of. The expectation of the Debtors is that everyone vote and tender releases prior to the voting deadline. They've made an exception to allow late filing from brokers if they either miss the Feb 9 deadline due to no fault of their own, of if they want to further allow their account holders to tender shares in the reorganization after voting is closed. (I'm sure the extension is due to the EC arguing that the voting deadline is pretty short and since they know the vote is a formality anyway with the Plan on the fast track to confirmation, they just want as many shareholders as possible to be allowed into the NEWCO club.)
Some of us are going to try and take advantage of that exception, of the gap between dates, and of the confusion of many other shareholders waiting too long and thinking they've now too late - all in order for us to snag shares at fire-sale prices in between the brokers' Master Ballot voting deadline (Feb 9) and the release deadline (Feb 28)... but we still have to find a broker willing to send a second Master Ballot before we can make any money on that strategy.
Notably, I have not seen anyone here yet claim that their broker has explicitly agreed to send a second Master Ballot after the voting deadline in order to allow the "late" releases to go through. I am very keenly looking out for news on that matter, and will be calling my brokers this week to find out if any are on board.
I have a social disorder (although it's not quite full blown Asperger's), and can come across differently than intended...if you're offended by something I've said, I probably didn't mean it with such animosity - please take it with a grain of salt. :)
