Z,
First, let me say that I am not an attorney, but I have been involved in corporate bankruptcies for over 3 years now and have become knowledgeable in how they work and what makes for good arguments. So, with that caveat, my instinct is your second choice makes a better objection, because there is a demonstrable cause and effect...and now numerous and successful high profile court cases to support it.
Ilene
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