Yes Ilenes and do not know how many times I have to keep posting that the Bankruptcy judges are getting very PO'ed at these hedge funds who have made a new business out of the process of their courts. The Hedge Funds step in the way of a reorganization and delay the proceedings because of their own greed. They buy debt for pennies on the dollar and expect dollars with interest and then fight the system with thier counsel to make sure they take as much of a debtors assets as they can..
The process has been hijacked and corrupted and now, finally they overstepped, got to greedy and got caught and she (THJMW) has a chance to show them how much power a bankruptcy judge has.
When I read that Opinion, I immediately got the feeling she believed Nate Thoma and had a chance to show these hedgies who are mudding up the process how the game is played when they get too greedy.
Look at Tribune, The Judge is threatening to write the POR because of the post-bk debt buyers will not play ball. The Absolute Priority rule is protecting that investment and the Hedge Funds have become experts at distressed debt purchases and recovery throughout this recession and the BK Judges have had enough of their (you know what)!
Now is THJMW a trailblazer type Judge who will fry these Hedgies if she gets the chance..
YES.. I Feel the rethoric I have been hearing in the last 2 years from these BK Judges in all circuits is REAL and they as colleagues will trumpet Hedgies getting their just due..
There are many pre-packaged BK's these days, because Judges are tired of distressed debt buyers costing the estate money that can be used to pay off the creditors.
All IMHO!
~Don~
News 
Market Data 
Discover 
