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One last hope for equity is to find out what is in pages 40-118 of the PA agreement but I don't think it will see the light of day.
Anyone know which are currently pending and being litigated? Is this the bondholders suit in D.C.?
The 300B is just that. Talk. The escrow shares are now worthless with no 3rd party suits. That sealed doc was probably related to the hedgefunds getting caught for insider trading. We all need to accept the fact that our pre seizure money is officially up in smoke.
Large, why a secrete settlement? If 350B belonged to us, why didn't Susman drop that bombshell during BK? He didn't because it would "embarass" the FDIC and JPM publicly? Please. If Susman had that on them he would have made it public and we would all be paid off years ago.
According to POR, this is what commons get for every 1B in "recovery" for the escrow shares.
Same pumping during BK. If they were hiding billions from us, it would have been returned during BK. I still think $$$ will come from GS.
I agree with WAMUGOLD. The releases got shoved down our throats and we got WMIH to make us go away. Escrows were set up to make us believe $$$ is coming back to us. I still think we get something from GS and that's it. Maybe a few billion if we're lucky. Commons get screwed at .15/share. The truth about the WAMU seizure and the 118 page PA agreement with never be made public.
Big, sorry to hear that. Guess my 36K loss in commons at over $4 pales in comparison. I have been resolved that my money is long gone but holding out for a glimmer of hope that significant asssets are returned to us.
Bob, what is 31/8? Do you think Susman has the original PA? If so, why hasn't it been made public by now? We would all be paid off by now if the 400B in loans were still ours.
Marsh, for every 1 billion $$$ that comes in to LTI, commons get 15 cents. Not going to be a whole lot. Enjoy the recovery.
I think the only $$$ escrow gets will be a few hundred million from GS, a billion if we are lucky, which is not a lot for commons. If there is an original PA agreement, it will not see the light of day. If someone has it, surely it would have been made public years ago.
cici, nothing for escrow yet. Still have the employee claims to be settled and PIERS getting paid. I think we are a few months from hearing anything. It is not going to be a whole lot IMO.
Why would the escrow shares allowed to be traded? The stock was cancelled after BK, they are currently worthless. I still think any hopes of significant recovery comes from GS. The rest is scraps from the estate.
Gotta be patient. Hopefully soon we will know why the LTI withdrew the GS examination request.
I was only questioning the post by the individual on the Y board. There are no replies to it on the WAMU board and no discussions on the WMIH board. Yes, we will have to wait and see what the official word is.
Thanks but there is no post by this person on the old WAMU board. If they were abandoning GS, LTI would have put out a release on their website by now.
Thanks. What is the Y board? I would like to read his comments about nothing further to pursue with GS.
Thanks. If that were the case the LTI would have released a statement by now. Been over a week. They haven't abandoned the request, only withdrew it. I think we will know more once the employee claims are settled.
I googled federal judge Juarez, nothing came up. I call BS. This matter is in Walraths court.
What I am saying the LTI never filed a motion to compel GS to turn their docs over and now they are just withdrawing the request. I think talks have been going on.
LTI only withdrew the request, not dropped it completely. Either an agreement has been reached or LTI is going to file a motion to compel. After a year gone by I don't think the latter is the case. The timimg of the the withdrawal and good news for WMIH is interesting. Hopefully the escrowed shares will be paid soon.
Looks like we will know more on Dec. 11th.
8. Motion by WMI Liquidating Trust for an Order Authorizing an Examination of Goldman Sachs Pursuant to Bankruptcy Rule 2004 [Docket No. 10869; filed 11/30/12]
Objection Deadline: December 20, 2012 at 4:00 p.m. (EST);
Extended to February 13, 2013 at 4:00 p.m. (EST);
Extended to April 15, 2013 for Goldman Sachs;
Extended to June 17, 2013 for Goldman Sachs;
Extended to July 18, 2013 for Goldman Sachs;
Extended to August 15, 2013 for Goldman Sachs;
Extended to October 1, 2013 for Goldman Sachs;
Extended to December 4, 2013 for Goldman Sachs
Objections/Responses Received: None to date.
Related Documents: None.
Status: The hearing regarding this matter is continued to the omnibus hearing on December 11, 2013 at 10:30 a.m. (EST).
There is no "litigation" trust. The attorney's represent the liquidation trust. And yes Susman is involved because they still represent equity in this matter.
It is interesting this request was abanonded before the Dec. hearing date. Either settlement or the LTI dropped it for some other reason.
Because the LTI never went back to court to compel GS to turn over their docs has indicated to me that negotiations have been going on. I hope this is the case.
Is the GS hearing in a few days still on? Hope it won't get delayed again.
JPM admitting what? Bad loans that they sold? Has nothing to do with us.
The settlement that we were supposed to be pleased with was getting the new company, allowing us to buy more shares in hopes the pps rises allowing to recover loses from WAMU. That has not occurred in over 2 years. I still believe the only hope of recovery is through GS and others. You can't rely on predictions of others because they have been wrong all along, during BK and after.
NOTHING will ever "go" to WMIH per the POR agreement. The company has to make it on its own. Who is WMIH going to buy with only 50 million left? If there was interest in buying WMIH by another company , it would have happened months ago.
I agree with W3, we as shareholders got rooked into signing releases in exchange for the HOPES of "significant recovery". It was the only thing to make us go away. Based on the latest filing, there is no recovery through WMIH. It's a dead horse. They will file Ch 7 by next spring. 19 months have gone by and nothing. Our only hope for recovery is through GS, rating agencies and other hedge funds engaged in illegal shenanigans to drive WAMU down.
The DOJ does have other CRIMINAL investigations against JPM but were not specified in last weeks article. I hope some of it relates to allegations of illegal trading.
JB3136, we believe there is a chance of recovery based on the LTI and bond holders request for those NS trading docs. They wouldn't be after those if there is no evidence of illegal trading.
The DC bond holders suit is still active. If the trading docs they received per Judge Collyer show that JPM was also involved in naked short selling, surely the SEC and Justice Dept would sue on our behalf.
News from last July for those who are not familiar.
http://www.law360.com/articles/457364/jpmorgan-must-produce-more-docs-in-wamu-bondholder-suit
t1215s, that is correct. Read on...
http://www.sec.gov/news/press/2010/2010-123.htm
Delays with GS is a good sign. They have had 8 opportunities to object to the LTI filing.
GS paid the SEC fine even though the SEC CLAIMED they could not prove any criminal wrong doing, but GS paid anyway. Hmmmm...VERY interesting.
GS paid a fine to the SEC related to the naked short selling of the mortgage backed securities they sold to their investors. Stabbed them in the back like WAMU.
PickStocks, if GS has been giving the salute to the LTI every time an objection deadline comes and goes, surely the LTI would have filed a motion to compel by now.
Thanks Catz for the clarification.
I am fully aware the LTI wants the illegal naked short docs, not the legal short sales. It makes no sense that post buyers would be included in any settlement. LTI made no request for trading docs post BK, only pre. I will be suprised if post BK holders are paid if there is any settlement.
Sorry, the escrow shares are not all equal.
The LTI filing is clear, they want the trading docs between March 2008 to the day of seizure. The pre-seizure shareholders have the damages. All my shares are pre-seizure as are with many here.
The post BK shares bought allows those to get shares in WMIH and that it it. If you are a passenger in a car accident and you sustained no injuries but the driver who you were with did, you would have no claim to file for any damages.