Look! This whole thing is so new to most of us "investors", right?
However, to the lawyers it is "old hat".
What I see is: Rosen and the company he works for charge bankrupt corporations as much as they possibly can because they know most often, as in this case with WMI, the Board of Directors, BOD, is missing in action or moved on and the getting out of BK is just the work no one wants to do, especially those responsible for it. So, the attorneys don't really care about anything but billing as much as possible, with exception to Susman and Nelson, of course. They keep their billing down on this for the sake of a winning strategy; less is more for them.
Anyway, the judge IS qualified to make the final decisions on settlement terms and she will have more information now than Rosen wanted her to have! Good for us.
The valuation debate may go on for some months or even more! I have never been part of a case like this and hope to never see one this full of b.s. again.
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