Tuesday, December 13, 2011 6:59:38 PM
Section 2.7. Texas Litigation. As soon as practicable following the
execution and delivery of this Agreement by all of the Parties, but in no event later than
fifteen (15) Business Days subsequent thereto, WMI and the FDIC Parties shall use their
reasonable best efforts to seek rulings from the D.C. District Court and, to the extent
necessary or desirable, the Bankruptcy Court or the relevant appellate court, (a) enjoining
the plaintiffs in the Texas Litigation and any other plaintiffs who have brought or may in
the future bring such claims from taking any action inconsistent with the Debtors’ and the
FDIC Receiver’s ownership and exclusive control of such claims and causes of action
(including resolutions of such claims and causes of action), including, without limitation,
prosecution of the Texas Litigation, and (b) enjoining any other Person from instituting or
prosecuting any claims on behalf of WMI, WMB or the Receivership. Upon the
Effective Date, or as soon thereafter as is practicable following entry of an order of the
D.C. District Court and/or the Bankruptcy Court or an appellate court consistent with
clauses (a) and (b) above, solely to the extent that a final non-appealable judgment has
not been entered previously against the plaintiffs in the Texas Litigation as of such date,
WMI and the FDIC Parties shall take any and all actions reasonably requested by WMI,
the FDIC Parties or JPMC to dismiss, with prejudice, the Texas Litigation by taking any
and all action as is appropriate, including without limitation, filing with the D.C. District
Court a Stipulation of Dismissal With Prejudice, substantially in the form annexed hereto
as Exhibit “K”, and appealing any order of the D.C. District Court providing less than all
of the relief contemplated by this Section 2.7; provided, however, that it shall not be a
breach hereunder if, the Debtors and the FDIC Receiver having used their reasonable best
efforts, the D.C. District Court, the Bankruptcy Court or any appellate court nevertheless
(1) determines that the claims and causes of action being asserted in the Texas Litigation
are, in whole or in part, not property of the Debtors and the Debtors’ Chapter 11 Cases
and allows the current plaintiffs in the Texas Litigation to continue prosecuting the
claims asserted therein, in whole or in part, or (2) does not grant the relief referred to in
clauses (a) and (b) of this Section 2.7.
"In 2004, Dimon set a goal for JPMC to acquire the Washington
Mutual banking franchise and geographic market by any means
necessary. In the months and years that followed, JPMC developed
and executed an unlawful scheme designed to achieve this end"
Recent COOP News
- Mr. Cooper Group Inc. to Present at the Barclays Global Financial Services Conference • Business Wire • 09/03/2024 09:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:17:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2024 08:31:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 08:09:25 PM
- Mr. Cooper Group Inc. Announces Pricing of Offering of $750 Million of Senior Notes • Business Wire • 07/29/2024 08:30:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/29/2024 08:24:31 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/26/2024 08:20:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/25/2024 11:00:12 AM
- FLAGSTAR BANK, N.A. ANNOUNCES SALE OF ITS MORTGAGE SERVICING BUSINESS • PR Newswire (US) • 07/25/2024 11:00:00 AM
- Mr. Cooper Group Reports Second Quarter 2024 Results and Announces Acquisition of Mortgage Operations From Flagstar • Business Wire • 07/25/2024 11:00:00 AM
- Mr. Cooper Group Inc. to Discuss Second Quarter 2024 Financial Results on July 25, 2024 • Business Wire • 07/11/2024 08:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:07:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:36:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:33:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:28:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:26:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:24:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:22:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:17:44 PM
- Xome Democratizes Real Estate with Launch of DIY Sales Platform, No Agent Required • Business Wire • 05/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:47:32 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/15/2024 12:11:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 12:12:48 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:22:09 PM
Branded Legacy, Inc. Secures Key Client with $70,000,000 Annual Revenue; Expects to Surpass $10,000,000 in 2025 • BLEG • Oct 1, 2024 7:00 AM
Element79 Gold Corp secures loi for launching tailings reprocessing business in Arequipa, Peru • ELMGF • Oct 1, 2024 6:38 AM
BARRON'S COVE to Premier at the Hamptons International Film Festival • APHP • Sep 30, 2024 2:56 PM
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM