Swiss, still quite a number of us WaMu escrow holders believe there is something forthcoming. Lots of reasons for thinking that, but the most recent, most telling is the Underwriter's efforts to hold position in Class 19 that they transitioned out of Class 18. Now why would you leave a debtor position to move to a preferred equity one if you didn't think there was a potential for return to equity?? Further, they technically could have been move to Class 22 which is common equity, but they didn't want that. Why, you ask (I'm assuming you ask :) )? It's very likely that the 75/25 % split will still be maintained and therefore they see bigger gains by moving to Class 19. Now, knowing these types of lawyers who live to bleed things dry, they've spent a nice sum to maintain their position. They aren't the type to throw good money after bad, so many think there is clearly something pending.
If we had a real legal system some of the parties involved in this fiasco would be wearing orange, however we do have the best government that money can buy. By the way, wanna buy a painting?
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