Mighty strange to see that June 10th is the new filing deadline for only the EC if they wish to file an objection to the POR. The other parties that we expected to see file on May 13th in favor of the plan are not mentioned. That leads to speculation as to why the EC and only the EC gets this extension to file objections. This is another of my WAG’s but it fits the facts as we think we know them.
1. The EC has some powerful information that Rosen, JPM, the SNH’s and the HF’s do not want released to the general public. 2. The threat of this information being released has resulted in a postponement of the objection and confirmation dates while negotiations take place. 3. The EC wanted a deadline to make their objections public to use as a hammer so that all parties know if they don’t compromise and offer significant concessions, the EC will air the dirty laundry on June 10th.
The postponement by Rosen is a sure indication that Susman is now driving the train. I strongly suspect the next sign we see will be another delay for the depositions. That will indicate talks are progressing. If we see a deposition take place, that will mean the talks are not going as well as Susman would like and he has to hit someone over the head to get their attention. Also I won’t be surprised if I see the June 10th date pushed out further. That would mean Susman got something and negotiations were still going. No guarantees but this makes sense to me and explains why only the EC got the objection extension.