I too was in denial but when we entered CCAA I accepted my fate, which was to see what if anything Tenor could salvage from this mess. I did put some blame on those here who claimed inside knowledge of the financing, claimed legal knowledge of the ICSID process and were generally cheerleaders for staying invested...as I said greed and incompetence all around (with added maliciousness for anyone who tried to present a sane view).

Over time I have become much more familiar with the legal aspects of this case, hence my concern that posters here continued to give out false hope.

Some still feel the need to do this (give out false hope). I suspect KRY_Chaser you are one of those. Tenor, like us, invested in KRY and they may win but it is not at our expense. Our money was lost a long time ago (KRY formally wrote off most of our equity in 2010 - did you guys notice this?!), mostly by Chavez and by Fung. What little was left has been depleted further by the noteholders, by VZ again and yes by opting in (but I only add this as payback for all the abuse I have taken here for offering a rational informed view).

Hopefully most have come around to the view that VZ has always been and still is the main enemy. Once they (are forced to) settle we may get some money, maybe 20-30 cents per share (probably a lot less). Tenor are on notice not to try to take any more and as far as I can see they have accepted that very patiently. I strongly support them in their efforts to get VZ to pay up fully but I wouldn't be surprised if they accept a haircut, most sovereign debtors do in bankruptcy situations.

If I could change one small thing about this whole mess it would have been to appoint Belanger as Chairman instead of Fung back in 1998 (actually Mickey Mouse instead of Fung would have been an improvement).