As the say, beauty is in the eye of the beholder.

I actually got a more positive reading of the dynamics and the outcome of the proceeding.

You may have noted that R. Fung and legal counsel for the monitor were present in the court room. And that the Gibson Dunn lawyers were called upon to argue the sealing motion. Their objective was to shoot down the risk that certain information become public, ever. Instead, they were sent back to the drawing board to justify the remaining sealed information and the need to keep sealed strategic information that is trully not. Even the all-important CVR was put on a short leash and will have to be unsealed once the outstanding award amount is collected.

It was remarkable that the judge was fully prepared and ready to shoot down the proposed recognition order even before the shareholders were asked to chime in. The message was clear: the court will withold recognition on CCAA court orders and not allow the distribution of the company's property until the money is collected and the controversy regarding who is entitiled to what is resolved.       

Even more remarkable was the participation of and acknowledgement that the shareholders were there to protect their rights. Every one of us that made his/her name and presence known is now officially an active interested party whose rights cannot be taken away without the due process of law.