The EC has never had lead status. Now it looks as if the judge has given them co council status. That is good and removes some of the reins that hold them back.
On another note, they practically do need to start at the beginning, I would hope they already have a big jump on that, they need to get the FC through and property returned. They need to get the judge to make some calls on just exactly belongs to WMI, what exactly was seized by the FDIC, and what exactly was sold to JPM. Then we can determine who is holding what, if what the FDIC did was even lawful, if any actual damages can be assessed and to who.
Rosen screwed every one over by not getting these core questions answered early as he should have. I am sure he knows that, but was distracted, thinking he could negotiate a settlement with the devil. It won’t take much longer and JPM and the FDIC will own it all any way as apparently WMI has abandoned the property.
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