Also should be noted that the EC are trying to go back to 2007 for correspondences and potential take over offers. I would say that the EC are trying to see if the $9 per share rumour is true or not, and if true will use in their valuation argument.
The ruling on the subopena request with Lazard will be intersting to say the least. Lazard is saying too broad and not enough time to gather all the info. If Lazard has to produce documents will they request more time? If time granted will the POR objections force that too be pushed back? (personally I doubt) The valuation argument is going to be based on everything from 2007 to present and future. I imagine Rog and company do not want everything out in public records and would not be happy if Lazard has to provide. (Could give insight and potential personal liability depending on anything in private notes and meetings) Might be interesting to see some of the notes from the 30 EC meetings and see if meetings where constructive and amiciable of if they were continuous at times with attorneys having private vendettas. Curious to see in notes on why the banks are providing the financing and what was used as collatoral.
Personally I am curious to understand how debt for new company is close to debt with old company when it went into bk. The only difference is that stockholders have paid with today dollars for claims that MIGHT have come forward in the future. This pay in advance in essence has eaten up stockholder equity and allowed the bondholders with current POR to be made WHOLE PLUS while giving stockholders a small 5% share of new company. A long strange trip it has been.
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