What a mess. "Nearly every time a lawyer spoke, there seemed to be signals indicating intractable battles ahead." We can't wait for the inevitable piece about professional fees and how they amount to an added strain on the Puerto Rican economy - particularly now that each Title III applicant will have its own Creditors' Committee (yikes). Meanwhile, we have to think that counsel for Promesa is just choooooomping at the bit to weigh in on whether the GO or COFINA bonds have first priority to sales tax proceeds. Finally, while the Judge wants status updates every six weeks, as LPs, we'd be riding each of the funds we're invested in to justify their underwriting on an even more frequent basis.