I hear ya but the group you refer to is the unsecured creditors group. That is a class and as far as I can tell there is no other class that will matter. 95 % are the bond holders and the rest dont really matter. No one has super primed the estate except the DIP lender so the 2/3 vote that matters is already wrapped up by note holders unless they fell apart or are about to.
Im not sure how the Claims process is wrapping things up. Management says Some note holders screwed the pooch and they want it sorted out. I have no idea if management has a legitimate claim. But if they do the dynamic of negotiations may radically shift.
If I was the judge I would push for a settlement especially if he has leverage over both parties. His leverage over Management is stopping the stays and his leverage over note guys is continuing it and possibly more harsh sanctions. Really could go either way but my gut says stays continue at least until GRZ decision is read. Its the best barometer for this case.
There are better spec plays no doubt but i will roll the dice a bit longer.
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