Washington Mutual demanda a la FDIC por 17 billones US$ + daños

La trama va en aumento (El Juez) nuestro Juez de Ghost

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So, here we have a lawyer who is tops in his field, with 32 years of experience. He's written the definitive bankruptcy reorganization practice guide (PLI publications are the standard reference works for lawyers) and he is so good Harvard Law School made him a professor, even though he's too busy to do that more than part time. His co-founded and ran (with Marcia) Weil's premier bankruptcy group (which is the firm's core claim to fame) and mentored and supervised Brian Rosen and the rest of them.
(They probably think he's a god.) And now he could retire as a gazillionaire at age 55, but instead he wants to do something new, creative, and different that the stuffed shirts at Weil won't go along with. So, instead of hanging on and drawing a seven or eight figure paycheck for doing what he already knows he can do well, or retiring and playing golf and hanging out with his grand kids, he completely sticks his neck out by leaving Weil, starting a new enterprise, and taking a brain trust of hot talent with him.

He's worked with Mike Willingham before of the Enron case, where they won a major victory, and therefore is presumably respected and sought after by Mike. He's knows how Weil acts and thinks, and can use that knowledge for our benefit And now he's willing to step up to the plate, go toe-to-toe with his old firm on one of the biggest cases he'll ever see, an give us the benefit of all that experience and insight. You don't think he wants to win this game? He is all about building and winning and "the next big challenge". He's a player! And people are being paranoid and cynical and suspicious about that?

I know this saga is making everybody hate lawyers even more than before. That's nothing new: Just read Shakespeare. But even if you're thinking "he's just another asshole lawyer", still, it looks like he's OUR asshole lawyer now, and I say "Welcome aboard!"

This is getting very interesting.

Alguna noticia del ec???habra que seguir esperando

Se esta hablando de que si vamos a ir a juicio.
No se si hay algo que no he visto, pero mientras WMI no decida que en vez de un acuerdo tenemos que optar por la via judicial para resolver el entramado no debería plantearse esa situación.
Parto de la base de la improbabilidad de que los accionistas tomen medidas judiciales contra JPM/FDIC sin la participación de WMI como entidad, entre otras cosas por el capital necesario para ello.
Otro paso es la moción del EC que estamos esperando donde incluiran a todas las partes como causantes de su justa o injusta inclusión en el acuerdo.
Con lo cual el primer paso del EC es tomar una posición fuerte o de mayoría en WMI para a partir de ese momento decicir si puede haber un acuerdo o reanudar las demandas.

La calma que precede a la tempestad. Vayamos cogiendo asiento. Comienza la película después de ver tantos anuncios y porquería preliminar,... Go WaMU!!!

Eso esta muy bien un abogado superclase ya millonario y cuya ambicion es que se haga justicia en una caso que creara jurisprudencia y lo hara eterno.

In the last 30 days we witnessed some game changing positions.

Wiley Weil and Rosen the Rat undermined the equity position with a POR that was so disappointing, Mydad drowned his sorrows in a Shirley Temple. Upon reflection it was discovered this POR in actuality was a POS, (identified by how bad it smelled). Not only did Weil, Gotshal make a huge reverse from their solid complaint, but they decided to give unearned assets of WMI to the FDIC and JPM. In addition, there wasn’t any financials attached, which is not unusual when you have just ran out of your last eraser. In reality, within the next few weeks when all is calculated A will be over L to spill into equity. In a more laughable perspective, JPM and the FDIC after all the bull@#$% they hurled at Judge Walrath, came to the opinion that the $4 billion “was” the property of WMI. But you certainly can afford that when you rob the extra $4 billion back in whacking up the tax rebates due to WMI. Of course to get this POS POR into play, Rosen the Rat even threw a bone to the WMB bondholders who deserved nothing, but what the heck is a few billion to bribe them to get aboard a POR that even the FDIC held there nose too. So there you are multi-millions of dollars spent by Weil, Gotshal to produce a POR that for all intents and purposes has alienated everyone and is a dead fish in the water.

Now that’s what happened on the WMI (bondholder) side, but looked what happened on our Equity side;

The Trustee got wind of a rip-off and with the assistance of Joyce who was well prepared with 100,000,000 votes, formed an EC over night and the EC hired Venable, (competent attorneys), who immediately filed for an SJ on the 4$ billion, and requested a shareholder vote. Then in rapid fire also appointed Willingham as the Chairman of the EC (a recognized Equity champion with a track record of results) and then as smart and quick as a fox hired Peter J. Solomon, a well respected “evaluation firm” and then locked up Martin Bienenstock (formerly of Weil, Gotshal) of Dewey and Lebeouf , (who you should know has a different business model than Weil, Gotshal and will absolutely use their best, sharpest most experienced legal minds to push Weil into being a second place firm by annihilating them in their attempt to destroy equity). Nice line up when you are going to war !

So where does that put us now..in my opinion, with the inherent facts of what transpired, in a very good position. That armada of lawyers, some bent on making the big money, enhancing their reputations and some bent on showing who’s the new King in town will bring the equity into the money, down to the commons. OK, we may have to wait a bit longer, but at this point the way I feel about Weil, Gotshal, Rosen, Dimon, Jpm, Sheila, FDIC and the OTS, I’m willing to watch them get the public disclosure pain that they all deserve..and by the way, that POR that’s dead in the water, wrap that fish in some newspaper and throw it on the “bondholders” door.

Buenas y calurosas tardes:

¿Ya ha comenzado la tan ansiada audiencia de hoy?
saludos

Manzana:

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