[MortMan]

The basic story here is that these are secured creditors - “first lien” holders - who are unwilling to relinquish their claim in favor of Obama and the union. Hedge funds do take bets - in this case, they took a sucker bet that “first lien” means exactly what it says.

Apparently you have no problem with violating that simple legal precept.

I do, however.

[org.whodat]

There is no simple legal procedure in bankruptcy! That is where they should have been from the start, this fake concern for the debt holder is BS in the highest order. And the first lien holder in the courts eyes is the attorneys.