Download 4208_order_usdc_western_dist_texas.pdf . When this was first filed I hadn’t realized that CC Media was the S-4 filing vehicle. Given this, its participation is valid, and the remand is rightly decided (yes, I know this is a self-serving statement). It doesn’t matter anyway since the order is non-appealable.
The banks are backed into a corner at this point to the extent the private equity firms don’t turn. Expect a public settlement offer soon to the extent they are not talking already.