It is just as possible, more possible, that equity and/or TPS are waiting for a ruling or a better settlement offer. Actually, I strongly believe that it is TPS holding up the settlement. There was a settlement offer already made, acceptable to all parties but not TPS. I think they want to see what happens in the DIMEQ hearing.
Once again, your bias on this is showing. One could just as easily interpret the lack of a settlement as reflecting the confidence of a party on the equity side of the table. But you chose - because of your bias - to believe that this means the anti-equity parties are confident. There is no logic or evidence to support your position. It is only what you choose to believe, probably because you have some cognitive dissonance that inhibits your ability to accept that things may be going very well for equity.