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La juez dijo que no habia dinero para la equidad en uno de los hearings posterior a la emision del informe del examiner y tu hablas del asunto del EC anterior al propio informe. Dime tu que ha hecho Susman por los accionistas al margen de la pifiada de solicitar el examiner. Un accionista es el que esta prolongando el caso por el asunto del I.T. NADIE MAS.
En Alemania no piensan lo mismo... +15% ahora mismo
Susman es el que lleva a cabo todas las depositions, el que hace las mociones, las objeciones... vamos que parece que Nate Thaoma es el que está trabajando. Aquí todo suma. ¿O es Nate Thoma quien está llevando a cabo las negociaciones? que no son otra cosa que ver donde está cada uno y ver los pasos que hay que dar para avanzar de cara a un acuerdo.
Estan TPS y estan preferentes y ambas deben ser pagadas full o buscar una fórmula que contente a todos para llegar a un settlement que incluya comunes. (que tambien van a recibir algo)
Mientras los abogados ganan tiempo y ganan más dinero a costa del estado, pero a la vez Susman se pone más duro y si se tumba el POR 6.5 y GSA y se demuestra que Weil estuvo compinchado con los Hedge Funds...ay madre entonces si que vamos a por todas y que caigan todos en cascada.
Es la primera vez que Susman va a por Weil y creo les envia una señal directa "me han vacilado y ahora estoy muy cabreado" agarrense porque ahora van a saber quien es este Bufete.
Que cada uno saque sus propias conclusiones, el juego se ha terminado Susman se pone serio.
Cabe resaltar que los interrogatorios van a ser en las oficinas de Susman y que estan fijados a la misma hora 10am - 24 Junio para Weil y para los Hedge Funds... señal que no desean que se compinchen para decir lo mismo. Les van a pillar con las manos en la masa y todo saldrá a relucir a partir 5 de Julio si esto no se arregla antes (honestamente ya pienso que si vamos a sacar más tajada haciendo esto por mi que caigan todos).
Dejemos de inventar historias que Susman no está haciendo nada porque a la vista está que ha metido la quinta marcha.
Alemania solo iguala la cotizacion de ayer en USA. En cuanto a TPS, estos van a los suyo y lo que ellos cobren no tiene implicaciones con el resto de preferentes, ELLOS ESTAN POR DELANTE, además quieren cobrar full antes que nadie. Dejade de fraudes y otras zarandajas que ya estamos hartos del mismo cuento cada vez que se derrumban las acciones. Deja de hablar de negociaciones, que estan mas que rotas, confirmado por las depositions presentadas.
Eso es lo que me parece que está ocurriendo... debe haber un ganador antes del 5 de Julio o no habrá prisioneros pasada esa fecha.
Besugo: De nuevo te equivocas. Si se consigue que TPS sea pagada por JPM por fuera, las preferentes recibirian mucho más en la cascada y esto llegaría a las comunes.
Recordar que TPS puede ganar o quedarse sin nada. Por esto la nueva oleada de abogados contratados por TPS para meter presión por su lado...
El enemigo de mi enemigo es mi amigo. Son 2 batallas distintas pero si debilitan a nuestro enemigo bienvenida sean.
Estos son los temas "calientes" a tratar... este fin de semana no me gustaría ser Rosen :)
Topics of Inquiry
1. The negotiation and terms of any Confidentiality Agreement entered into between the Debtors and any interested party in these proceedings, including the Settlement Noteholders.
2. All information relating to the Debtors shared with Settlement Noteholders during periods in which a Confidentiality Agreement was in force.
3. Your knowledge of the compliance or non_compliance with the provisions of any Confidentiality Agreements by signatories to those agreements.
4. All information shared with Settlement Noteholders during periods in which no Confidentiality Agreement was in force.
5. Your determination of what information to make public after the expiration of Confidential Agreements.
6. Any information received and shared by You concerning settlement negotiations with the Settlement Noteholders, JPMC, the FDIC, any other creditor and/or the Creditors Committee.
7. Your knowledge of any trading in WMI or WMI Investment debt or equity by creditor constituencies that was, or may have been, informed or affected by any confidential information relating to Debtors in their possession.
8. Your participation in and knowledge of the negotiation of the terms of the Global Settlement and/or Plan.
9. Your efforts to pursue and settle claims relating to current and former officers and directors of the Debtors.
10. Your efforts during settlement negotiations to negotiate a recovery on behalf of WMI equity holders.
Cuando Rosen presente el nuevo Plan ya te dire si TPS colabora o JPM-FDIC no ceden en absoluto, porque tal como esta el proceso lo que buscan es seguir ganando tiempo y que se demore años en resolverse.
(1) Sargent gave everyone a heads up that he was planning a 30(b)(6) deposition of WMI if the settlement didn't happen. It didn't and he and Susman immediately were true to their word. They see an opportunity and are pushing. They seem to be organized, with a plan, and re-energized.
(2) As Stockminer found by excellent research, this 30(b)(6) deposition is a new kind of legal animal (unique to federal rules of procedure, I think, and unfamiliar to me until now) which is like a hybrid between a deposition and interrogatories, intended to streamline the discovery process and cut out the game-playing that usually goes on under older rules.
With interrogatories, written questions can be put to an organization like a big corporation, and the corporation theoretically has an obligation to canvass all officers and employees to find the answers to the questions, and then reply with answers in writing, under oath. The problem is that this process takes a long time to complete. It's not unusual for several sets of interrogatories to be filed in an attempt to hone in on the issues. And there are so many ways to weasel out of direct answers, especially when lawyers are writing the answers and obfuscating by parsing the grammar of the questions, etc. and generally being evasive. This results in additional hearings for sanctions and motions to compel answers and other legal bullshit that pumps the attorney's billable hours but accomplishes little.
Depositions, on the other hand, involve live testimony of witnesses under oath being directly questioned (and pressed) by opposing lawyers. This process generally has more potential for quickly getting to the point, but is limited in that a witness can (and often does) claim not to have any personal knowledge of the facts that are the subject of inquiry. If all they can relate is hearsay, then follow up depositions of other corporate employees are needed to pin down facts, which is time-consuming and expensive.
A 30(b)(6) deposition, by contrast, requires the discovering party to designate a narrow subject matter area, and then requires the corporation in turn to designate a knowledgeable person (usually an executive, but potentially any employee) to familiarize himself/herself with the relevant facts and then testify on behalf of the corporation as to "corporate knowledge". It's designed to require the inclusiveness of answers to interrogatories with the immediacy of a deposition and to cut out the power of lawyers to obstruct and blow smoke. (I like it. Grin)
(3) So, before anyone gets too excited, this kind of deposition is not really filed "against" WMI, but is merely requiring WMI to designate a witness to answer questions on issues that may operate against the SNH's (or other creditors, so this could include UCC members) that may have benefited from insider knowledge when they traded in WMI securities. However, since there aren't many WMI employees left (no, BR can't/isn't going to be deposed), who will the designated hitter be? I confess I hope it will be "Mr. Omniscient", "Mr. Know-All", Mr. Kosturas, so that his encore performance can be thoroughly scrutinized by SG's crew. Grin
(4) Despite (3) above, this has to incrementally put more pressure on WGM and WMI to try to facilitate an new, more favorable settlement for equity. (I'm convinced they really want to settle this ASAP and get the hell out of it.) Add in the recent recalcitrance of the TPS group, and tactically BR could even use this as an opportunity "orchestrate" the deposition in a manner friendly to equity to help squeeze more out of the SNH's and maybe even JPM.