They have an involvement and say in the settlement of issues. Without it, equity could get left high and dry. A trustee doesn't normally ask for it if equity is way out of the money. The trustee told the judge that exigent circumstances existed and that list was needed immediately.
If your hobbies are accounting and economics, you should understand a bit about how these things work. If you enjoy accounting, there's plenty of records to go through here and decipher.
With an EC you get a voice in front of the judges. I know there's a lot here who say our lawyers when they talk about the firms fighting against JPM but they aren't. They are WMI's. An EC is the only way to be represented.