If I remember correctly the EC only asked for "Equitable Subordination" and MW said there are colorable claims that would lead to "Equitable Disallowance"...
We both know that black horse and other 17 other hedgies had nothing to do with AAOC and the TPS was the main holded from those hedgies andn ot the AAOC.Black horse alone held the majority of the TPS let alone others and the same for the P shares or K shares.So the asumption isnt so right abouth their strength.Not for nothing They got 5% more than actually given from the Setlement.And Tanjazielman lets speak honestly if the TPS wanted to stop the waterfal to commons you wouldnt be here making DD about the wwaterfall to commons akka Class 22.Noot for nothing the Equity was demed to be Preferds+Commons and Judge acepted the formula from the start.So thats why be thankfull to be in the Fair and Reasonalble boat and not on the shore.