That is a very good point but I think that everyone should still be excited if Gerber approves by 10/15, since he has certainly spent time mulling over the issues and may be inclined to accept a higher POR. I have spoken to someone in the 2009 bonds and he has stated that he believes the creditors won't kill the plan over a 10% variance in TEV (his fund certainly wouldn't).
At $2.05BN, the market is saying 9.4% distribution to equity (assumes $845MM of liabilities, including new debt and carryover environmental obligations plus $125MM of balance sheet cash).
Assuming $2.2BN is approved with the same debt/enviro liabilities and cash, we should be at $1.13....
Market Data 
Markets 
AI
