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

El que se aburre con WAMU es porque quiere !!!!

No se porque no tomais la pastilla azul y entendeis que el retraso era la mejor opción,
ya veremos que pasa el próximo 8 de octubre.

El 1 de noviembre saltará la bomba... Susman no está callado porque no tenga nada que decir
no olvideis nunca eso y los interrogatorios que ha servido.

El EC ya ha hablado muy clarito en sus depositions y ni aun así Weil tiene argumentos para hablar, solo para retrasar.

Respirad tranquilos, este viernes no habrá funeral :)

The examiner will find that there was no legal basis for the key terms of the DS and plan (e.g., relinquishment of assets, forfeiture of legal claims). He will further discuss at length that no competent bankruptcy debtor's counsel could support the DS and Plan and, therefore, Weil was derelict in its duty. As Weil proposed the plan with the full understanding and cooperation of WMI's management, and has stated in open court that it does not view equity as clients, the examiner will opine that Weil and WMI are not serving the interests of all WMI constituencies, and will further opine that if the DS and Plan had been approved and confirmed respectively, the estate, and in particular, equity, would have been unfairly cheated out of billions of dollars.

The examiner's report will suggest that a trustee should be appointed, and Susman will follow up with supporting pleadings.

The foregoing is writing on the wall, and it has been there since the court reversed herself on the examiner question. The next hearing will definitely not feature a surprise approval of the DS for the reasons I've enumerated and the fact that the court would never make such a ruling when a damning examiner's report would make her look a fool. She's been made a fool of once too often by Weil, and none of the Weil lawyers expects that the hearing will be anything other than a formality.

bopfan........ que pare con las drogas por favor
en que mundo vive???? ve como va el caso????

Creo que lo ve un poco más claro que tu.
¿Nos puedes dar tu veredicto de lo que va a ocurrir?

¿No ves el retraso como algo positivo?
Antes que faltar me parece que debemos informarnos, porque esta persona
se podrá equivocar en cantidades pero en Derecho de Bancarrotas nos da una formación a todos los del foro.

Bueno ya tenemos los 0,17 aquí, ¿aguantarán?

Gotea, gotea....

IMO the Milk Man (if you have been here long enough you know who I'm talking about) has told us (indirectly) through the Friday agenda (link below), that he published, that the DS is pure craapp and he never has a chance to get it approved. Here's the logic:

1) in late spring 2010 the Milk Man was in a great HURRY to get the DS approved and move on to Plan approval. I don't have links here but if you dig into the court docs/recordings you will find it easy enough. He even argued against the Examiner saying the examiner would slow down the plan approval. They even sent plan approval mailings out.

2) in this Friday's agenda (page number 62) we see that the DS discussion is "continued to Oct. 8th" to permit ongoing negotiations. What's up Milk Man. Why the HURRY a few months ago, and now the delay???

3) many of the legal minds on the board here tell us that the DS is lacking in key aspects (valuation?) - we are already onto the Milk Man's game. I think THJMW is onto it too.

4) keeping the DS from being approved/rejected is key to the Milk Man because it retains exclusivity/control of the process.

5) if the Milk Man was so SURE that it would be approved, he would JUMP at the chance to get it approved and thus lock exclusivity once and for all.

6) but, due to all it lacks, if the discussion went forward this Friday, it would surly be Denied and thus exclusivity would be over.

7) if the Milk Man wants to retain exclusivity, his only option is to delay and, he better have a good reason. Think about it - What are his options?:
a) change the DS (new version): NOPE. THJMW shut him down on this in the early Aug. hearing.
b) tell the court that the DS is incomplete and he needs time to work on it. Too obvious - no way!
c) do nothing/don't put it on the agenda. No way. THJMW wants this thing over with! She's expecting it.
d) the "ongoing negotiations" excuse is the only excuse that is good enough.

8) so, delay he (Milk Man) did, so we can only assume that he knows what we already knew from DS V1, it is pure craapp.

BTW, I don't think there are any meaningful negotiations going on (at least not the kind that jinsong33 touts). This is just a delay to retain exclusivity. The Milk Man's clock is ticking and his delay options will soon run out and he will loose ALL control - unless of course there is the true "Seattle Mint" that we all are expecting.

antes del 1 de noviembre seguramente subiran por especulacion... si uno mira la histaria casi siempre es asi antes de una audiencia importante, el mas claro ejemplo es marzo...... y despues viene el desplome porque rosen no las manda a guardar con algo (supongo que esta vez habiendo arreglado con un par de millones al examinador)
bopfan, que dice que llegara a U$S 56, sabra mucho de bancarrota y derechos legales, pero poco aca no se trata solamente de eso, sino de arreglos politicos, empresariales y corrupcion, y de eso sabe un poquito mas JPM que este buen señor