In my mind, the events over the last few days have been neutral to potentially quite positive in regards to the LTWs. I don't think that the judge is really saying anything other than, "You guys are in a separate pot."
One can actually view this as a net positive for us. We don't want to be considered equity, and by separating us out as a special case, I think that the judge is seeing us for what we really are: Claims on a contingent asset.
I actually very much like this separation of our issues from equity. No doubt, Steinberg would love to get into the mediations... the man is a force of nature and would likely run through the place like a tornado in a trailer park.
However, I think I like the way that things are going. We are separate from the fray now, with our own pot of money set aside and our own battle to fight. The more separated we become from equity in this BK case we get, the better off we will be!
Just my thoughts,
Jared
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