Appealing the decision is, in effect, a legal protest against incompetence in a judge...since the action is seeking to overturn his decision. The EC and independent valuation are probably not the strongest indicators though. I would look to legal citations used as precedence for his decision.
Also, in full disclosure...I am not an attorney, but rather have worked for the last 2+ years to bring transparency to shareholders in public co. bankruptcies. I have worked with attorneys, but I am not offering legal advice here...
Ilene
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