Lo ultimo de Bopfan
Superb choice. In him you have a highly experienced bankruptcy examiner (Refco was the Augean Stables of Wall Street) and former head of a fraud investigation unit. It can't get any better.
That he very nearly had the goods on Weil means that Brian Rosen knows McMahon is gunning for him and my statement about his law license being in jeopardy may come to fruition.
Unlike Refco this Chapter 11 presents (through the DS and POR) a prima facie example of a corrupt BOD and its counsel who for some yet unknown reason labored to sell out equity. Without more WMI and Weil are hung because there is no way they can explain why without discovery they could forfeit claims the estate has under the avoidance powers and FIRREA. Weil's failure to conduct discovery in compliance with the standard of care of a competent law firm (much less a major one) is inexplicable except for duress or corruption of the BOD (and Weil).
This is a very good development for equity.