Thanks Jared. The more I read the Sonterra filing, the happier I am. It's very good. Those of us who own LTWs are the lucky beneficiaries of some good lawyers - Steinberg, Silverstein and now the Sonterra lawyers.
For those who don't want to take the time to read the statement of support Sonterra filed, it really does an excellent job clarifying that the litigation proceeds were spun out of DIME, using the words of the LTW agreement, the offering statement, and the SEC's own statements. Moreover, they argue that the LTWs could be a secured claim. This is great stuff.
Meanwhile, Steinberg is showing that he's a highly effective advocate for the LTWs in the POR hearings. I love his sarcasm - he makes me laugh, at least, but at the same time, he's no doormat, and I believe he has really helped shed some light on the screwy POR that Wamu has proposed (or should I say, the screwy POR that JPM and the hedge funds have colluded to create and try to cram down everyone else's throats)?
This team is doing a good job of drawing attention to DIMEQ. Whereas I used to worry before that we'd get lost in the rush to exit bankruptcy, right now I'm cautiously optimistic that we'll either win outright or at least have a wicked appeal. No guarantees of course...
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