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either way though, i think if WMI had gotten the 4 bil back.. the case would have taken a different fork in the road.. maybe weil would still be doing discovery and pushing the adversary proceedings hard.. but then again i guess weil brought it upon himself.. betraying the shareholders of the company by siding with the enemy.. led to exigent circumstances and formation of the EC.. hopefully Susman finds the way for us.. i'm just frustrated now.. as i'm sure lots of longs are as well.
well the fear for us all.. is not so much she won't forget rosen insulting her.. but more so.. in the time frame that's left there won't be a good chance, as pay back, to put him in his place.
the doreen logan deposition was what WMI needed.. they got it.. but never really used it. I wonder why. o right.. they went ahead to negotiate a sham global settlement.
cuz the mm's need to go make their quick buck for this week.
i understand that. but i'm talking about way before the POR.. what was up with her inaction last fall? the 4 bil would have helped with WMI's 'in'solvency.. and if Weil was indeed battling hard for the estate he would have wanted the money back real bad.. but no ... he eventually stopped pushing for it.. making Walrath's job all that easier.. just sit back and do nothing
rosen at some point late last year probably convinced her to not rule on it as he likely said to the judge "we have a settlement".
well maybe you can tell me. all i know is last June she said "I can rule on it anytime".. then we had the questioning of the WMI employee..forget her name.. then walrath said "ASAP" in October.. and then the whole issue fell to the wayside..
why walrath never ruled on the 4 bil? because she's gullible and listens to rosen. simply said.
anyone wanna speculate why they think the UST wanted an examiner appointed for the EC? i mean he wrote a really strong letter to support the motion.. there must be a reason why.. maybe he just believes in a totally impartial approach?
thanks for bringing that up again..
like you said, the EC is the examiner now.. and walrath wants this expedited.
our time is near.. only 3 more weeks to wait? i mean somethings gotta budge by then.. i.e. rosen trying to cram down his POR, EC going fast & furious with discovery etc etc.
needless to say rosen still has to show what he did with all the assets.
by the way everyone.. we still got Solomon.. hopefully they've been doing some work or will start to do some work now.. we need a TRUE valuation.. that's pretty much what it comes down to..
as it stands may 26 is still the end for rosen.. if the POR isn't revised by then.. all hell will break loose.. if the Judge appears to be in agreement that the equity needs to be given an opportunity to review things and probably included in the POR somehow.. if the equity is blatantly left out.. then what's the point of allowing us to have an EC to begin with?
that's quite possible.. and all this probably started when they didn't extending the no shorting rule to WMI back in 2008..
i think our enemies would never let us / EC allow a competing POR as doing so.. big questions would be raised.. i.e. which POR is more accurate? which POR is a truer valuation of WMI? etc. etc. and the only way to find out would be an investigation to produce proof behind either POR's.. which would most likely require an impartial third party to investigation .. ding ding = enter the Examiner.. Rosen et. al is damned if they do, and damned if they don't.. pretty much damned in every way imaginable at this point.
sounds like the noteholders getting desperate and want to cash out.. well too bad so sad.. you guys aint cashing out until we ALL cash out.. which would involve lil rosen boy and his jpig buddies ponying up big big bucks.
I hope the UST gets to talk tomorrow. BAM!
sounds like weil is ready to lose this one again
".. which the Court should appoint an examiner but, if it does, the examiner's role should be strictly limited"
where are the jpm lawyers lately?
does marcia goldstein really stand behind the bs that her firm's cronies spit out? what a joke today's filing is..
"If an examiner were appointed, its role should be severly limited".. lol.. the whole point of an examiner is to dig up EVERYTHING he/she wants.
ha nice to dream.. but i doubt it.. rosen is gonna go down with his sinking ship.. and it'll sink even faster come wednesday when we light a torch to it.
i think one of the biggest questions we're all forgetting is what will happen on May 26 and soon afterwards? is rosen really going to let control of wmi leave his hands? i find that hard to believe.. examiner and BOD replacement aside what is HE going to do to try to push his POR through? only thing i can see now is modifying the POR to try to appease equity.. as after May 26 we or anyone else can throw whatever numbers out there and push the BK forward.
well rosey boy loses exclusivity in about 3 wks and a bit.. after that its anyone's game.. so either he fixes the POR and settles fairly or fights to the bitter end.. i hope the judge grants us the examiner on wed.. no more delays.
i doubt that as the BOD has been involved from the beginning in this 18 month sham BK.. there's nothing virtuous about them. in terms of time, its only short now because the BOD along with Weil decided to waste and delay it all away.
what does everyone think rosen is doing over the next few days? try to revise the POR? or getting prepared to fight to the bitter end on May 5th?
maybe last week's heated discussion between susman and rosen was susman telling rosen i'm filing the motion for the examiner regardless.. and then rosen maybe rebutted by i'm going get you kicked off this case due to conflict if you file that. but of course our 800 lb gorilla isn't afraid of rosenbud and evidence of that has been shown today. go rosen go rosen, go back to dimon and tell him he better cough up soon.. otherwise it's going to get a lot uglier for white knight dimon
we just have to assume the current BOD are all against us since they're affiliated with rosenbud
thanks.
everyone should remember these names lol.. these are the people we will need to oust (and NOT re-elect).. when the vote comes.. take no chances.. they all need to be removed from the BOD.
who is actually on the current WMI BOD??
i.e. names and profiles?
rosen has one month left period. its pretty good chance that his POS POR isn't going to be accepted and after may 26 anyone else can submit plans tooo. coupled with the fact the BOD he's colluding with will get booted soon, he's pretty much done. either negotiate in good faith now, or prepare to lose everything mr.rosen. i think our 800 lb gorilla susman has no problem waiting for the end of may and starting a trial to destroy weil.
on the bright side, rosen only has one month left to 'fix' things or continue to be a fool and drive himself into the ground.. after may 26.. we / EC won't have to care what he says or does.. kind of like criminals being let out to roam. that will scare him.
i wonder what this investment banker's stake in the case is.. he/she with EC? creditors? bondholders? Weil? hedge fund? MM?
i guess we'll see soon enough whether there's any truth to this.. 1 month to go.. before rosen truly runs out of time.
it doesn't look like susman is a gorilla to mess around with.. i bet if rosen trys to conflict him out.. susman will buy something crazier over rosen's head.. plus there's always the possibility rosen may be conflicted out.
so Solomon is currently dead in the water and sitting idle???
how come the EC has never brought this point up?
looks like rosen decided to send his mm's in to scare some people today.
i think that was blackhorse..
so does that mean for sure k's and p's will see 7 billion?
i read this earlier in the day.. but did someone say the EC is going to do something tomorrow (Thursday) regarding our shareholder vote?
will susman get to speak again?
i need someone to rebut rosen ASAP haha