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Very impressive objection letter. Good job.
I use Mac-Office 2008 and that is the a way to clear highlighted text. I found this after google search.
https://support.office.com/en-us/article/Clear-formatting-199d9ab5-727d-4ab8-8c87-ccc641da4f35
Sorry for the double posting.
To remove Highlighting, copy iHUB text, paste into Word document, then select all text and then under Edit tab select Clear/Clear Formatting.
To remove Highlighting, copy iHUB text, paste into Word document, then select all text and then under Edit tab select Clear/Clear Formatting.
Draft Objection Letter.
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
______________________________________________
:
In re : Chapter 11
:
WASHINGTON MUTUAL, INC., et al.,1 : Case No. 08-12229 (MFW)
:
Debtors. : Jointly Administered
:
: Hearing Date: June 2, 2016 at 10:30 a.m. (ET)
: Obj. Deadline: May 24, 2016 at 4:00 p.m. (ET)
______________________________________________:
OBJECTION OF XXXXXXX X. XXXXXXXX TO THE MOTION OF JPMORGAN CHASE BANK, N.A. FOR ENFORCEMENT OF THE FINDINGS OF FACT, CONCLUSIONS OF LAW, AND ORDER CONFIRMING THE SEVENTH AMENDED JOINT PLAN OF AFFILIATED DEBTORS PURSUANT TO CHAPTER 11 OF THE UNITED STATES BANKRUPTCY CODE
Honorable Judge Mary Walrath
Case 08-12229
824 N. Market St. 5th. Floor
Wilmington, DE 19801
Dear Honorable Judge Mary Walrath:
As a Private Person and LTW Holder I, XXXXXXX X. XXXXXXX have a valid lien/claim against, and interest in 85 % Net of the Award – which was given/promised to the LTW Holders upon the issuance of the LTWs.
The following are not proper legalizes, but I feel they are correct. Especially, “…ownership interests in the Anchor litigation…” in item 2 below.
1) As the Anchor Litigation was transferred to JPMC, the bankruptcy court does not have the jurisdiction to allow or dis-allow LTW holders’, that did not opt-in to the Washington Mutual stipulation, their right to claim the 85% net of the Anchor award.
2) The DIME warrants were actively trading on the NASDAQ Market on the day JPMorgan Chase acquired Washington Mutual Bank. And as Judge Block stated in his Order/Opinion, " In this case, the court finds that the litigation tracking warrants provide a reasonable proxy for the tax basis of the Anchor litigation. As plaintiff points out, these ownership interests in the Anchor litigation were actively traded on the NASDAQ market on the day that JPM acquired them. " - PG 6
3) As a LTW Holder that purchased the Warrants in good faith, JPMC should honor my claim.
Sincerely,
This this the correct address for:
Judge Mary F. Walrath
Bankruptcy Court,
824 North Market Street
Wilmington, Delaware 19801
if not correct, does someone have or can direct me to contact information for Judge Walrath to send objection letter?
I don't know if a good idea, but Is there a way to contact this Rosenbaum person and inquire if we can join or assist in some way in their law suite.
I received today same form letter response from JPM-Chase. As reported to board earlier, JPM-Chase advised me by telephone that a representative would be contacting me by phone to discuss my letter for LTW payment claim. As of today, no call. On the several LTW claims sent to JPM-Chase they may have decided to send letter rather than call.
I also replied to Ms Wager-Zito's email. Cc- JPMC Executive Office
Ms. Wager-Zito,
I assume your rejection of my claim is from the bankruptcy court. Please accept my reasoning as to why I think that opinion is wrong.
1) As the Anchor Litigation was transferred to JPMC, the bankruptcy court does not have the jurisdiction to allow or dis-allow LTW holders’, that did not opt-in the to Washington Mutual stipulation, their right to claim the 85% net of the Anchor award.
2) The DIME warrants were actively trading on the NASDAQ Market on the day JPMorgan Chase acquired Washington Mutual Bank. And as Judge Block stated in his Order/Opinion, " In this case, the court finds that the litigation tracking warrants provide a reasonable proxy for the tax basis of the Anchor litigation. As plaintiff points out, these ownership interests in the Anchor litigation were actively traded on the NASDAQ market on the day that JPM acquired them. " - PG 6
3) As a LTW Holder that purchased the Warrants in good faith, JPMC should honor my claim.
Best regards,
At 5:30 PM EST today, I received a phone call from a JPM Chase representative and was advised that I would be contacted soon by phone call from another JPM Chase individual to discuss my claim. I do not know if this is good or bad news in reference to my LTW claim. At present, I don't expect a positive reply after Adrian Wager-Zito rejected my claim this AM. Maybe right hand does not know what left hand is doing, When I know more I will advise the board.
Received today.
Mr. XXXXXX:
I am responding to the below email on behalf of JPMorgan Chase. Your claim is rejected on the grounds that you are not entitled to make a claim related to such warrants against JPMorgan Chase.
Respectfully,
Adrian Wager-Zito
Partner
JONES DAY® - One Firm Worldwide?
51 Louisiana Ave., NW
Washington, DC 20001
Office +1.202.879.3891
adrianwagerzito@jonesday.com
Received today.
Mr. XXXXXX:
I am responding to the below email on behalf of JPMorgan Chase. Your claim is rejected on the grounds that you are not entitled to make a claim related to such warrants against JPMorgan Chase.
Respectfully,
Adrian Wager-Zito
Partner
JONES DAY® - One Firm Worldwide?
51 Louisiana Ave., NW
Washington, DC 20001
Office +1.202.879.3891
adrianwagerzito@jonesday.com
I emailed the following this AM and land mailed to JPM-Executive Office and Adrian Wager-Zito.
TO WHOM IT MAY CONCERN:
REQUEST FOR PAYMENT
RE: Anchor Savings/DIME LTW holder
My name is (name) and a holder of LTWs as referenced above. This letter is my written request for payment of a valid claim against the 85% Net of the Award, which is the intent of the issuance of the LTWs to the Purchasers/Holders.
I purchased xxx,xxx Anchor Savings/DIME LTWs in 2006. For the record, Judge Block’s Opinion and Order gave JP Morgan the Anchor Savings/DIME LTWs Award of $538,615,584.62, which includes tax gross-up of $118,969,673. A final Settlement Agreement between the DOJ and JPM of the Award was reduced and that Award was $ 513,645,584.62, which includes $ 93,999,673.00 tax gross-up.
Please find attached a copy of Judge Block's Opinion/Order of Aug 31, 2015 which states that the LTWs are " ownership interests in the Anchor Litigation " - on Page 6.
My calculation estimates my claim, based on 85 % of the base award of $419,645,911.62 before addition of the $ 93,999,673.00 tax gross-up - and then divided by 112,975,597 LTWs.
85 % x $ 419,645,911.62 = $ 356,699,024.80
$ 356,699,024.80 - divided by 112,975,597 LTWs = $ 3.157
My request for payment calculates the shares held xxx,xxx X $ 3.157 = $ xxx,xxx.xx.
Please correct if my calculations are incorrect.
I understand other holders may have also submitted a request for payment, and this may be the Case No: 20160328EOTLB0034.
Best regards,
I added my info and faxed pdf letter with signature to Mr. Todor.
It's crude, but this AM I sent this email to Ben Bush. If I get a response, I will advise.
To: ben.bush@verison.com
Subject: Anchor ITW Holders Litigation
Hello Mr. Bush,
This is just to inquire if you are, or would be again, involved in representing the LTWs holders from the Anchor Savings Bank litigation that did not "opt in" to the WMI stipulation agreement for WMI stock. I would be very agreeable to paying you a fee of an agreed percentage of any awarded value to my LTWs from JPMC.
As Linda1, from the InvestorHub "Dime Bancorp” Board, posted “….. the LTW Holders who did not "opt in" have argued that the Bankruptcy Court lacked the jurisdiction to adjudicate the LTW Holders’ claim due to that the Anchor Litigation was transferred to JPMC - per the Purchase and Assumption Agreement - which has been confirmed by the US Court of Federal Claims.”.
Thanking you in advance and awaiting your response.
Best regards,
Linda,
Do you have legal basis and feel qualified to represent us LTWs holders. If yes and legal, I would be willing to pay an agreed percent amount of my LTW recovery as fee to represent me. This would go for any qualified legal representative.
This probably is not new info, but this link has contact info from 2012 appeal for Ben Bush and other attorneys involved.
http://sidedraught.com/stocks/WashingtonMutual/DIME-LTW/deb-042012237084-DOC-352-10-50911-02092012.pdf
You may already have this data file. Index of /stocks/WashingtonMutual/DIME-LTW/Anchor Savings Judge Block
http://sidedraught.com/stocks/WashingtonMutual/DIME-LTW/Anchor%20Savings%20Judge%20Block/
This AM, I got a 2nd email from Adrian Wager-Zito who represented JPMC in latest Anchor litigation. She states the following.
As much as I hate to consider It, I think we have lost our pot to pee in. I hope some one knows a way to get us a new pot.
Continuing the pro-active approach, do we have Ben Bush contact info. And, contact info for Judge Block. Also, Dept of Justice contact name, or a justice department recommendation to contact.
Your right. Following is response from attorney representing JPMC in Anchor vs USA winstar case.
_______________________________________________________________
Mr. Boatright -
I appreciate your inquiry, but Jones Day does not represent the LTW holders and your question is better addressed by counsel that does so.
Regards,
Adrian Wager-Zito
Adrian Wager-Zito
Partner
JONES DAY® - One Firm Worldwide?
51 Louisiana Ave., NW
Washington, DC 20001
Office +1.202.879.3891
adrianwagerzito@jonesday.com
_______________________________________________________________
I emailed both attorneys representing JPMC in the Anchor vs USA litigation. I will advise if I get a response.
I found these links to Jones Day attorneys representing JPMC in the Anchor vs USA trial. They appear to be very proud of the winning decision in the Anchor vs USA case.
http://www.jonesday.com/gsirwin/
http://www.jonesday.com/adrianwagerzito/
Link to Jones Day article about winning Anchor vs USA case.
http://www.jonesday.com/experiencepractices/ExperienceDetail.aspx?experienceid=32233
To try to be on active side rather than reactive side, is there a JPM email address or postal address to submit a LTW claim request?
From my E*Trade statement under "Other Activity".
Date
08/21/2012
Description
WTS DIME BANKCORP INC NEW
LIGITAGION TRACKING
PENDING EXP 01/01/2059
DUE 01/01/2059
EXP 01/01/2059
DEEMED WORTHLESS
Symbol/CUSIP
25429Q110
Qty
-20000
As this as gone on for several years, I would think some LTW holders have relocated (moved) and their address has changed. If later, we are successful, will contact to LTW holders be directly or through the broker of record where warrants were delisted?
During one of my dreams that JPM did actually pay LTWs and I was in blissful REM sleep. Then a scary scenario entered my dream. The LTWs were relisted thru my Broker, the LWTs were given a value of $17-18 per warrant and active trading started again. But before I could sell the warrants, the price fell back to sub-penny. That dream came full cycle.
Question: If we are successful (and that is a big if), will the LTWs be relisted and start trading again or LTW holders will be paid directly?
I would think many LTW Holders have mentally written off these warrants and are not following these type of discussions. If a lawsuit is needed, is it best to have a sole entity or class action to initiate a lawsuit? If a class action lawsuit is to be considered, the question is how to get the word out to LTW Holders. The next question is how LTW Holders get legal representation for a lawsuit.
Hello,
Yes, my last reply was intended to be an April Fools' Dayish type of comment. But last polar flip being 41000 years ago, could be about time for another one. As the proverbial phrase from the early 1500s states, "only time will tell".
Hello,
My Astrologist has just recently finished an in-depth analysis of planetary alignments and the resulting physical effects on the planet earth. I inquired of any possibility of a magnetic polar flip and ice age in the future. And, I was advised that on January 4, 2014, the planet Pluto passed directly behind Jupiter, in relation to the Earth. This rare alignment means that the combined gravitational force of the two planets exerted a stronger tidal pull, temporarily counteracting the Earth’s own gravity and making people weigh less. This is called the Jovian-Plutonian Gravitational Effect. As a result of this effect the magnetic polar flip is expected within 3 to 6 months from this astronomical event.
My Astrologist did not have information on future ice age, but would research and advise later.
As I see it, we have the possibility of, at least, being halfway there for Linda's prediction.
Go DIMES.
Hypothetical futuristic question.
If LTWs are found to be of value to the investor, how will the settlement take place. If known.
1. Reinstitution of LTWs with value via investor Broker ?
2. LTW value via some other security (stock) ?
3. LTW value paid direct to investor via land mail ?
How would JPM handle investors if they have changed or closed their broker account and/or change of address since LTWs were delisted ?
My DIMEQ shares with E*Trade were deemed worthless August 2012 and delisted from my brokerage account. Before they were delisted, this was the status.
NEW LITIGATION TRACKING EXP 01/01/2059
E*Trade customer service advised, that if there was a re-establishment of value to the DIMEQ warrants, they would be re-listed to my account. No action would be required by me.
Hope this helps and is correct.
My DIMEQ shares with E*Trade were deemed worthless in 2012 and delisted from my brokerage account. Before they were delisted, this was the status.
NEW LITIGATION TRACKING EXP 01/01/2059
E*Trade customer service advised today, that if there was a re-establishment of value to the DIMEQ warrants, they would be re-listed to my account. No action would be required by me.
Hope this helps and is correct.
Thank you.
My DIME warrants with E*Trade (DIMEQ) were deemed worthless and were removed from my brokerage account on 08/21/2012. If this new litigation return results favorable for DIME warrants, can these devalued and delisted DIME warrants still have redeemable value?
Just an idea as an additional option to the STv2 $89 monthly fee.
Spooz, or a company licensed by Spooz, starts an investment fund based on STv2 generated trading strategy. This fund would be open to the general public for investment. If SWARM could be used and knowing the previously reported SWARM beta trading results and if subsequent results are similar, I could find several $1,000 to invest in such a fund.
Most professionals would prefer the monthly fees to setup and manage their own trading strategies. But, I would think there are a lot of interested people that are not proficient in setting up trading strategies and would love to be able to invest in a fund managed by a reputable company using STv2 and SWARM.
I just finished viewing the 3 part demo. I have traded stocks for over 10 years and have traded and written Forex automated trading programs for 2 years. The flexibility of use with STv2.0 and the ability to write your own trading strategies will be very attractive to serious traders and automated trading programmers.
WOW !!
Put me down for Sept 18th, before market opens.