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...OCC points are all MUTE...
...these attorneys had 16 months to draft technical rhetoric that simply does not apply to UWBK prior to the illegal seizure....
...the Administrative Record prevails not some legalese communist manifesto created after the fact to defend a conspiratorial police action....
...as for the s/p, the market has already discounted the judge upholding the seizure given a $4MM market cap when we are getting $20MM in payments from the tax refund and BAC.......even with the attorney and other payouts shareholders will get $10MM......
....UWBK gets the last word and the facts are the bank was seized without warning - and the acceleration of the CRP time frame was a breach of law - any hint of the OTS having discussions with First Citizens prior to the illegal seizure will increase our damages 3-FOLD.....
.....I say 40 cents p/s this week and our case just got MUCH STRONGER..........................you wimps and fly-weights can take a hike..............................WE WILL GET THE CAPITAL TO START A NEW BANK AS A RESULT OF THE CORRUPT OTS TAKING PRIVATE PROPERTY WITHOUT CAUSE.............all statements herein are IMO..........
...BOTTOM LINE = Judge's decision...
...again, anything could happen but I still believe the acceleration of the time the OTS initially gave UWBK for the CRP has never been explained...................this has been my point all along.........why were those FDIC e-mails so sacred.....?????......given the OCC's response, it is obvious those emails from the FDIC to the OTS advised against a seizure.......all IMO.......
...the OTS also was not the FDIC - which would have been more thorough and would have given UWBK more time to complete the recap. plan.................imo......
...I am familiar with the hogwash the OCC lawyers wrote out and most of it was taken from the FDIC regulations handbook and a chunk of it is not logical re: bank loan valuations and reviews.........the Federal Reserve guidelines are that loans are marked to contract - not to market when the loans are current and rated higher than 6.......we expected the OCC response and I'll re-read the entire post but my opinion is that the bank was not weak enough to be SEIZED and had a CRP.....................those bundled - not brokered deposits were made by an institution that had worked with UWBK for ten plus years.........................WE WILL WIN........
...if we FAIL, I am very proud to go down with the ship and I have plenty of shares..........................
...OCC response is WEAK...capital was adequate...
...why is everyone so convinced the gov't's response makes their case...????......THE RESPONSE MAKES OUR CASE MORE SOLID......
...where was all this BS BEFORE the OTS seized the bank...????
...the OTS should have assisted and encouraged the bank after it SUCCESSFULLY obtained new capital commitments.....instead it accelerated the CRP time frame when it saw that the capital level would increase...................the CRP acceleration time frame is what MAKES OUR CASE...................and the possibility that the OTS conspired with First Citizens to grab and give the bank.....
...I feel like we just WON THE CASE.......the gov't has given its last feeble explanation and it not once explains why UWBK was seized...................................all points are IMO, but my ASK on TD AMERITRADE is locked at 39 cents.........and the gov't now wants the judge to make a decision....?????....$500-million BLUNDER......................bigtime SACK TINGLER..............Mr. Mesa, I believe we WON...............
...accelerating the CRP time frame makes our case...
...I have re-read our entire position in the motion for a summary judgement and the detailed chronology makes the OTS look sinister and evil.........which it was...............but the OTS made a HUGE MISTAKE when it requested the CRP, received evidence of the CRP and then panicked and changed the CRP deadline when the CRP got the bank well over the 8% thresh hold..................this was a technical mistake by the conspiring OTS which didn't ever expect to get sued.....................the OTS gave the court FDIC guidelines that it clearly DID NOT FOLLOW........it's like showing the court the law that the OTS broke.............which is what the OTS/OCC did....
...all info. herein is in my opinion.............
...if we have a major bounce today or Monday, it will only matter if the volume exceeds 1-million and it will be a + 20-center......
...remember, gents, WE COULD SETTLE THIS MATTER TODAY FOR $275-MILLION..................IMO.................
...OCC will contest SJ motion - request dismissal...
...TODAY..........probably a 50+ pager stacked with legalese...
...very standard legal nonsense and expected any minute.........
...the OCC will again make a STRONG STATEMENT that the UWBK claims have no merit and that the seizure was proper and justified.....
...we then file the last statement and the judge decides.........
...BOTTOM LINE: the bank was seized without regulatory justification.........the judge will close the door to rhetoric in June and render a decision without a trial.....................the s/p might drop today when the limp-wristed gamblers see a wordy request by the OCC to dismiss the claim........means nothing.....
...all statements IMO, but I'm long and strong and plan on getting the capital back to start a new bank in Denver and Boulder.........no doubt whatsoever...........none..........ZERO....
...Mr. Mesa: read "The Art of War"...(it's free online)
...we must be mentally tough to navigate through the legal process in our war against the enemy (the OTS/OCC)...
...I too have had weak feelings over the past year and a half......I remember sitting in a dark room last year and I would click the computer mouse and buy another 100,000 shares of UWBK for $3,300........then another, then another, then another...........I did this again with the stock at 6 cents.......many times over.....
...sure, we could have the case dismissed, or the judge might rule in favor of the OTS/FDIC/OCC.........we might not get our tax refund and we might not get our BAC monies..........
...I want to own and manage a bank in Denver like I would have done if the crooked clerks at the OTS had not seized our bank.........ILLEGALLY BASED UPON BRIBES, KICK-BACKS AND A PERSONALITY DISPUTE BETWEEN JOHN BOWMAN AND GUY - THE BIGGEST PENIS.........???????..........all of this is just M/O...........and speculators have a 50/50 chance to multiple their investment by at least 20 TIMES.........maybe 40 TIMES...........TODAY IF WE SETTLE...........TODAY.........we will prevail, gentlemen...................
Mr. SoonToBeRich:
Thanks for the supporting comment. We believe there will be a settlement either directed by the judge or by the OCC - - this could take some time but there is little doubt there will be a settlement....
......the dollar amounts and s/p after the settlement will be totally up in the air but the equity value at the seizure plus a small accommodation is what is expected..........round about $225-million......no charter........given the attorneys payout, the employee payout, the creditors in BK and residuals...........the tax-free special distribution to shareholders should be about $3.50 per.....possibly a tad higher
.....all comments are imo....
.....we're on solid ground - - again, this is justice in America, nothing more or less.......................
...JACK-BOOT THUGS ILLEGALLY SEIZED OUR BANK...
...no mystery here............the Administrative Record explained nothing - was and is non-existent...................
...we can whine and prognosticate and speculate..................means nothing.............the share price means nothing at this point..................
...THERE IS ONE ASSET AND THAT IS A LEGAL CLAIM TO REGAIN OWNERSHIP OF OUR BANKING FRANCHISE.......................this asset could evaporate (acknowledge that we have a tax refund and BAC monies but the market just yawns at this $20-million).......BUT IT WON'T...............watch...
...we will be compensated for the illegal, unsubstantiated and unjustified SEIZURE OF PRIVATE PROPERTY BY THE U. S. GOV'T......no gamble, no manipulation, no anything..............justice rocks.........everything stated herein is totally IMO.........
...Mr. Mesa: do not lose your FAITH in UWBK...
...I share your concerns but I do know the technicalities of bank exams, bank capital requirements, FDIC guidelines and seizure procedures...........................the judge allowed the bank to sue the OTS......................
...hang in there, Mr. Mesa, the current s/p means absolutely nothing................until the Judge rules...........appeals or technical legal challenges also just delay the inevitable........
...THE BANK WAS WRONGLY SEIZED AND THE OTS HAS NOT PROVIDED ANY SUPPORT INFORMATION WHATSOEVER.........the Judge is a fair-minded person and will see the injustice..............
...I am long and strong and my livelihood depends upon a favorable ruling..................................(I am one of the largest, if not the largest single shareholder and I already have a triple but this also does not matter until we get a court ruling)........ENJOY THIS EXPERIENCE, MR. MESA..........all imo.....
...FDIC WANTS OUR TAX REFUND...despicable!!!!!
...our tax returns were consolidated so, as with Colonial Bank, we will get our refund in full = $4.4-million...that's the Bancorp - and our shares are Bancorp shares - - but if the FDIC gets the refund, oh well........we are going to get a BILLION DOLLAR judgement when the Judge sees that the OTS acted without justification.......actually malice and that Johnny B threatened Guy over personality issues.......the FDIC is desperate....all IMO......
...no worries.......this is FUN, Mr. Mesa.............bank on at least $500-million......all the FDIC is doing is running up needless legal fees and digging a deeper hole......................imo......
...UWBK's value = 100% function of Judge's decisions...
...okay, the BAC money is coming and should be about $16MM+ but the BK attorneys and creditors might grab most of this because it is a sure thing...
...the FDIC opposes BuckleySander per 5-11-12 filing - - how hypocritical, although this decision is a win win for UWBK shareholders...
...we are in a very critical time zone until 8-1-2012 and we could CRASH AND BURN or gain momentum...........
...we believe a PE firm, William Blair..????....or some other PE firm, along with Guy is controlling everything and speak daily with our attorneys..................also, the Judge needs to hear Guy's testimonies which might make our case......
...Bottom line: sure I am nervous and believe we could LOSE round 1 and the s/p drops below 5 cents...................ONLY THE JUDGE'S DECISION MATTERS AND THE GOV'T HAS UNLIMITED FUNDS SO WE WILL ULTIMATELY SEE OUR $500MM........all statements herein are IMO.....................there are few opportunities in life to earn a 25-banger...............and with a high probability.......
...OCC can agree with SJ or request a trial...
...of course, we expect the OCC grunt lawyers to post a 40-page response to our request for a summary judgement refuting all claims and allegations and PRAYING THAT THE JUDGE REJECT THE MOTION FOR SUMMARY JUDGEMENT AND DISMISS THE CLAIM................
...we then re-respond in early June and ask for a trial in the event that a summary judgement is not made..........
...all THEATRICS but standard legal processes............the end result is that the judge will probably make a decision without a trial - since the gov't grunts don't have to testify..........
...we believe strongly that come 8-1-2012 the judge finds that the seizure was in fact arbitrary and capricious and egregious and awards UWBK shareholders $500-million..................the s/p should then rocket past $3.00 even with appeals pending.......ultimately, we could receive a tax-free distribution of over $10 p/s....SERIOUSLY...........all IMO, but WE WILL PREVAIL..........TEN BUCKS...........TEN...........!!!!!
...My legal adviser made 2 BIG COMMENTS...
...1. The Judge needs a mountain of evidence to NOT DISMISS THE CLAIM......meaning there is a strong likelihood the decision will be to uphold the receivership.......just an opinion but there it is......WE LOSE.....
...2. The legal counsel for UWBK took the case long-term on a contingency basis and probably engineered the BK. My counsel's opinion is the attorneys would never have taken on the gov't with a contingency arrangement UNLESS IT UNDERSTOOD THE TECHNICALITIES OF THE BANK CAPITAL REQUIREMENTS AND THE BANK EXAMINER CRITERIA FOR A SEIZURE.........................just another opinion but valid....
...As for a settlement, and knowing that Guy said no possibility whatsoever.............................we - ME - I believe the OCC could be directed by the judge to settle the case unless the OCC gets feedback from the judge that a ruling would favor UWBK...THEN THE OCC WOULD THROW OUT SOME NUMBERS......Guy is the man, but he would probably take a $250-million deal......attorneys get 30%, employees 2%, creditors get $29-million and shareholders get $130-million or about $4.00 per share....................I do believe this................
...all info. herein is just my opinion and at this juncture, the market is saying we get a morsel of the BAC money ONLY and STIFFED by the COURT..........................onward........
...OCC will oppose SM...Judge to rule by 8-1-2012...
...the entire case is really academic now because the OCC will play out the suit to the end and appeal if it loses........we could wallow for another 2 years with more paper and no change to anything.................
...the judge's 1st decision could easily reject the UWBK request to replace the receiver............a technicality that dismisses the case.........we could re-file under another premise and start the process over again...................the market reflects this outcome...............that we will lose and the business community in Denver feels our suit is hopeless.............
...our attorneys taking the case on a contingency and directing the BK filing is a good sign but the gamble remains the same........I believe the unwarranted acceleration of the CRP and the seizure of the bank based upon the bundled deposits was NOT JUSTIFIED VIA FDIC GUIDELINES WHICH THE OTS HAS REPEATEDLY STATED THAT IT USED......
...bottom line for me: I'm long and strong for eternity but the market is astute and is saying that we lose............all information herein is IMO and I hope the OCC asks Guy for a number - - to start a settlement negotiation...............we either see $8.00 in an instant or 1.5 cents and eventual de-listing.......................ROCK ON MR. MESA...........
...one phone call = $5++ per share...
...just an observation, but the OCC could try to settle this matter rather than dig a deeper hole fighting a summary judgement motion.....the casual question posed to Guy = ROCKET LAUNCH....and another strategy might be for the OCC to concur that a summary judgement is supported.....?????.....weird but possible......
......THE ODDS OF SOMETHING POSITIVE HAPPENING FOR UWBK SHAREHOLDERS ARE VERY HIGH...............and even a small positive = $200-million+...
....my conscience is clear by virtue of this post but this stock should be trading over $2.00 p/s on speculation alone.......all IMO only, of course.............wink wink........
...what IF the OCC asked Guy to toss up a number...????
...just asking.........................and we would hope Guy would whisper $500-million and a pre-approved charter..................
...the OCC has another 11 days to respond to the request for a summary judgement and somehow address the points baked into the motion.................the response will probably be more empty rhetoric about obscure non-existent non-agency mortgages and bundled institutional deposits that were not earmarked....????????
...regardless......................justice will prevail.........BTW, Guy, through our attorneys, IS ACCEPTING CALLS.......ALL, IMO...........................this will be FUN.....
...THIS AIN'T A JUDGE JUDY FENDER BENDER...
...granted, UWBK doesn't exist except for a claim against the OCC........BUT WE ARE SEEKING $500-MILLION++ and have a very, very high probability of being awarded that amount or more and getting our banks back.................and we have the best law firm in Washington DC as a partner...........................the tax loss rebate = $4.4-million and the BAC money is at least $12-million and the check is in the mail..............................re-read the motion for summary judgement...................$500-million, folks.....................BANK ON IT........all, IMO......this stock should be VALUED today over $1.50, imo...................PE funds gamble on bigger long-shots than UWBK...........the stock market is saying UWBK's suit will be dismissed ................
...Mr. very careful: here's my settlement rationale....
...the OCC and its lawyers know how and why a bank is taken over by the regulators.............so do I............there is a time horizon and certain metrics that are applied to a bank that is deemed to be under-capitalized - - with each and every reporting and exam detail clearly documented.......there are Asset Quality Summaries and other reports - most of which the FDIC uses and the OTS copied and used.....monthly reporting after the C & D letter.....
...the OCC has deep pockets and will fight the legal fight for awhile.......but if and when the OCC believes the court might be on to and understand the ILLEGAL SEIZURE...........the lawyers will continue to throw paper at the court to buy time.......BUT ALSO BEG THE UWBK ATTORNEYS TO TAKE A SETTLEMENT AND END THIS BATTLE - there will be a hold harmless and some other confidential matters and maybe or maybe not a charter, but the OCC cannot afford to defend what the OTS (not the FDIC or OCC) did or did not do.......................the seizure was a very serious police action and to date, the justification has not been adequate.............that's my opinion........I was a shareholder long before the seizure and I am a major shareholder now...................and I will be forever............onward...
...what if seizure was illegal...????...
...hypothetically, of course, but if the OTS did the dirty on UWBK for some improper purpose............................again, IF.............the court could award compensatory and possible punitive damages to UWBK shareholders.................this could be anywhere from $500-million to $1-billion....................
...if the FDIC had seized UWBK, it would have supplied the court with mountains of support documentation and eagerly offered anything UWBK requested............................but the amateurish OTS SEIZED the bank knowing the OTS was being merged into the OCC in July 2011
http://www.bankinvestmentconsultant.com/news/ots-occ-merger-2669133-1.html?zkPrintable=true)
and believing UWBK was too weak to legally challenge the SEIZURE......
...all of this is IMO, but the OTS has not offered any detail on why it accelerated the time-frame for the CRP........and now only explains some vague nonsense about institutional deposits and non-agency mortgages............the court's decision could be monumental, and an appeal would require a cash bond of the judgement amount...................bottom line, IMO, UWBK settles with the OCC very soon.................................
...My legal adviser: RESOLUTION GUARANTEED...
...this is just an opinion and the person who gave me an opinion lives in Boulder and is familiar with UWBK/Matrix........but the point is the judge will award UWBK shareholders for the taking of their banking franchise - - ABSENT A CLEAR AND CONCISE EXPLANATION FROM MR. JOHN BOWMAN - - which has never been provided in any manner......common sense, fairness, justice under the law, call it anything............................we will be compensated.........
...what does this mean for shareholders......?????......you ask......Mesa and I have stated our positions but the consensus is the judge awards or forces a resolution in the range of the equity at the seizure PLUS a compensatory damage determination........here we go again..................$210-million........the attorneys get $63-million, creditors $27-million, shareholders $120-million in the form of a special p/s distribution...................nets out to about $3.88 PER...............................BANK IT...........all IMO.......
...BuckleySandler deal, like BK, benefits UWBK...
...the contingency arrangement is the only way to go....our attorneys now have a huge incentive to WIN or SETTLE...nothing else......like dragging the case out forever just to steal huge legal fees from us.............
...no problem - - actually, I was glad to see the legal agreement explained................the OCC lawyers now have a hungry wolf to deal with........
...as stated previously, Guy reportedly said he will only take the case all the way to whatever END to get the final decision from the court................although $500-million, or $200-million plus the charter.....could sway Guy to settle............bottom line, the shareholders are going to get at least $4 p/s, tax-free if they take the distribution directly...............or much more...........all IMO.....................this is a done deal.....
...don't miss the ROCKET LAUNCH - any minute...
...their ain't no defense and any response by the OCC to the motion for summary judgement can only be a request for denial - - which would only prolong a non-existent defense......and our attorneys are on a contingency program........even if the OCC requests that the case be dismissed - which is dangerous for us because it could be - the OCC is trapped.......................legally..........just EXPLAIN WHY YOU SEIZED THE BANK, MR. BOWMAN.................or give it back.....................................fascist pig..........
...we believe the court will force the parties to settle and the OCC can only beg us and the court for a minimum value assignment to the seized assets.................again, we fall back into this $200-million area........more if there's no new charter in the deal....
...all IMO but smart money will not risk missing out on the 20-fold SPIKE when the settlement news leaks...........all IMO, again, of course.........................
...contingency legal fees = SETTLEMENT (imo)....
...the lawyers would have converted the fee arrangement from hourly to a contingency when the settlement discussions were to POP.....this is nasty but just the way the legal system works......no biggie................and with our attorneys on board indefinitely, WE CAN TAKE THIS BABY ALL THE WAY TO THE THREE YEAR PROGRAM........................tony scalia and big clarence would make sure we get at least a BILL......................
...Guy makes the final decision on anything and he is holding out for a judgement - - this is good because it will take $500-million for Guy to blink and not the $175-million we feel could be floated - this would only leave about $100-million for shareholders - NOT ENOUGH, THANK YOU.................call it a $250-million package ($4+ per share) and date the wire transfer 6-1-2012......
...apply logic matrix to this situation...
...there is a GARGANTUAN political consequence to national news SCREAMING about how the gov't conspired (imo) to seize a little bank in Colorado...................FOR NO REASON except some mysterious payola and spiteful personality conflict.........
...the OCC did not create this MESS.......the OCC inherited the liability that the amateurish, unprofessional OTS CREATED.......and thought they could get away with it........................and First Citizens may or may not be clean in this matter...........
...so we believe a resolution is being crafted that will give UWBK shareholders a new charter, cash and preferred capital to start and build a banking organization....................JUSTICE IN AMERICA...............no negative publicity - - just a confidential settlement............................DONE DEAL, imo............share price = $4.00.....................just watch......the OCC ain't gonna drag out this disaster........
...20-BANGER by 6-1-2012...IMO...
...There are few opportunities in life to make a significant sum of money..................and to right a HUGE MISCARRIAGE OF JUSTICE...
...The OCC can fight and try to protect some BOGUS mysterious non-existent FDIC emails.................when coupled with no explanation from the OTS..............this just makes the ILLEGAL SEIZURE damages bigger................thank you...........
...we believe the OCC is currently crafting a resolution offer.........if they have a brain, the OCC must float something...............otherwise, there is clearly a BILLION DOLLAR abuse of power...........................
...BTW, the FDIC gave UWBK a waiver back in early May, 2011, I believe relative to the claims against Countrywide......I've had a copy and I'll look back thru PACER to post..........that's $16MM in our pocket and most goes directly to shareholders - - that's the benefit of the BK.......................all IMO, but we're close to the end of this mess............$4.00 per.......
...Legal hurdle = PREPONDERANCE of the evidence...
...the OTS behavior in seizing the bank was troubling in that it was sloppy..........no documentation whatsoever.............the OTS did not even mail the 1-2010 bank exam and admitted it did not mail the report................then the OTS openly communicated with the FDIC to seize the bank without waiting for the CRP or even making reference to the CRP..................THIS CASE IS A SLAM DUNK...............the OCC's attorneys can file some VOLUMINOUS legalese rhetoric in answering the motion for a summary judgement.............
...................this case can get drawn out for another 2 years and we ultimately lose the case in court..........so what...????
.............IN MY MIND, IT DOESN'T MATTER BECAUSE THE TRUTH IS: THE OTS ILLEGALLY SEIZED THE BANK............a gross abuse of POLICE POWER......................WE WIN.....................all IMO...................$175-million = $4.00 p/s, adjusted.........
...MY LEGAL ADVISER SAYS: OCC COULD SETTLE HERE...
...We understand that Guy said absolutely "no settlement" but this position only matters if a fair offer is presented...
...the SEIZURE was rushed based upon a confused interpretation of institutional deposits................and deposits, per the motion for summary judgement are not criteria used for the OTS (FDIC) to determine safety and soundness.......................THIS IS A ROCK SOLID LEGAL POSITION..........accelerating the time-frame for the CRP only strengthens the argument that the OTS conspired to seize the bank without cause...all IMO.....
...the OCC and their attorneys are incompetent if they do not at least float an offer to settle, IMO..........I am just a LT shareholder and observer - - so I'll gladly wait for the Judge's decision and 2-years worth of appeals.................this case is so clear it should be settled and the UWBK folks can get back to banking in Denver and Boulder...........................
...4/20/2012 filing is very POWERFUL...
...we understand that the motion TO DISMISS is somewhat procedural, however the police action being challenged has potentially a $1-BILLION consequence................................some of those very technical claims detailed in the motion to dismiss in no way can be defended, IMO............for example, the non-agency mortgages questioned could have a value higher - AND DO - than the agency mortgages.....clearly the OTS was throwing out bogus, superficial statements that had no analysis or support..........NOTHING on anything, IMO................................UNBELIEVABLE..........
...BTW, my TD Ameritrade account now lists the stock price ASK at 43.2 cents..................could easily blow past $1.00 p/s and will go higher with the BAC/Countrywide payola................
...OCC inherited OTS action - very unique situation...
...normally I would agree that in the case of the OCC and definitely with regard to the FDIC - - they play the legal game in perpetuity...............NOT HERE, imo, and I am in this forever regardless....................
...we shall see, but the acceleration of the time-frame for the CRP will ultimately DOOM the OTS defense - they ain't got one.......
...also, if the OCC doesn't settle today, the risk is 100% shifted to the OCC to fight the summary judgement............very, very DANGEROUS when your talking about a potential billion dollar judgement...................................again, IMO.........smart money will settle today......................
...SETTLEMENT could stop motion for summary judgement...
...otherwise, the OCC will request that the motion be denied in voluminous detail and the process for a trial begins...................
...it will be interesting to see if our attorneys specify the dollar amount of damages along with replacement of the original receiver REVERSAL........this will give us insight into the dollar amount that Guy has been contemplating.............
...either way, TODAY is the biggest day yet in this endeavor - - other than the day the bank was illegally (IMO) seized...........BRACE YOURSELVES FOR A SETTLEMENT..............and we would speculate on that $175-million idea....................again, imo, but the OCC should be smart and end this NIGHTMARE.................................TODAY........
..."smoking gun" is the CRP acceleration...
...even if the OTS had an ulterior motive for whatever reason in seizing the bank, UWBK had tangible capital committed.............the OTS pulled the plug because it didn't want to lose out on the seizure - - and John Bowman did not think Guy and Highlander had the balls to challenge the seizure..........Highlander bailed but so what.......????...........the Summary Judgment motion officially seals our case and the risk shifts to the OCC..............BIG-TIME...............potentially a billion dollar liability...............................
...the man: my concern is really the s/p - assuming that it reflects the probability of winning the suit and getting a distribution of the Countrywide/BAC payout............I have a huge stake in this situation................
...I also know what the OTS did and did not do before it seized the bank........................reprehensible is the only way to describe the action.........................criminal might also be appropriate..........we shall see........................I'll sit tight because I'll never sell my stock regardless.................onward and thanks for the encouragement......
...market cap = $4MM...s/p says "dismissal"...
...UWBK will probably file motion for summary judgement late Friday, 4-20-2012...............OCC just might not request a denial and take a chance on the judge dismissing the case with prejudice...
...otherwise, the phony legal filings will continue through June..............all which mean nothing............the Judge's ruling is all that matters and she might take 6 months and then rule in favor of the OTS/OCC...............I am long and strong but I have no confidence in the court whatsoever...........and we are going to get the BAC/Countrywide money of about $16-million any day now and the market justs yawns at this payout...........
...and Guy says we go all the way no matter.................why not.....????...............tell us why, John Bowman..........all of this is IMO.........................
...Guy said no settlement...he wants the banks back...period...
...this is a good sign since it shows that Guy believes strongly that the bank was illegally seized......
...our concern is that the OCC will play a long drawn out legal game even through an appeals process and we could lose the case on some obscure legal technicality......in two years......
...but I am in this forever.......so let's sit back and play out the legal game...........America is a doomed corrupt country if we don't get our bank back...............the end result of the UWBK suit will be either a couple of pennies per share or $8++ dollars p/s and a return of our banks.........................onward.................
...motion for summary judgment due April 20, 2012...
...this is serious biz or the suit would have long been dismissed...
...granted, the OCC's bumbling buffoon lawyers will file the standard challenge...........................but the OCC is in very dangerous legal territory....................now and after 4-20-12.......
...we want Guy to give a signal to the OCC that he will at least review a settlement................................'cause he's saying NO SETTLEMENT WHATSOEVER...................so are we.........$1-BILLION JUDGEMENT could then follow.........all IMO.......
...Guy A. Gibson hasn't wavered for one second...
...and he has more at stake than any of us.......and Mr. Gibson knows exactly why the OTS did what it did...............
...we have full confidence in Mr. Gibson making the right decision for the benefit of UWBKQ shareholders.......
...we understand that Mr. Gibson indicated he will take the legal case to the very end and WILL NOT AGREE to any settlement whatsoever..................onward...................we wanted to ask him to consider an immediate settlement north of $175-million with or without a new charter................please consider, sir......
....UWBK shareholders hold "all the cards"....
...and this is ironic because the shareholders do not exist except as a trading vehicle with one asset: a claim against the OTS/OCC......the holding co. is in BK and basically holds few assets....and has some large debts.............
...conceivably, the OCC could buy control of UWBK stock for about $15-million (15 millions shares and the price would rise to $1 p/s as it bought stock)..........and then the OCC settles for $150-million and would itself hold about $60-million in stock because the s/p would rise to about $4 p/s...........how weird is that.........?????....OCC's net payout would be $105-million or 150 minus 60 plus 15..............
...the legal beagle in Denver who gave me an opinion said a favorable judgement for UWBK against the OCC is about a 50/50 chance and a settlement is better than 50/50....????....question is how much and how paid....................unofficial estimate is equity at seizure ($140-million) + compensatory damages estimate although not referred to as that in official resolution but equal to about $25-to-$35-million.....................all of this will go to shareholders with the holding company and related claims in BK being pushed back to the holding company...........
...CONCLUSION, IMO.............some nasty legal wrangling leading to a $175-million settlement in October................an investor associate of mine in Boulder said Guy will never settle for any amount and wants a court decision regardless..................apparently there is some huge anger in Guy - - he knows more than us about the illegal seizure...............again, all IMO...................the patient shareholders should make out very, very well............
...Settlement won't include UWBK particulars...
...we do not believe the holding company debt will be an issue nor will BK NOL issues be referenced.........UWBK shareholders can address these matters - per a settlement - with CASH......CASH in the BK court will be easily allocated.......we want a charter but we believe this might not be included.................because CASH will cover all of UWBK's side issues.............a tax-free distribution to UWBK shareholders in the amount of $175-MILLION...........................all IMO............the OCC can get out of this mess NOW and we both move on.................BELIEVE..........................
...WHY DID YOU SEIZE OUR BANK, MR. BOWMAN...????
...A very simple question and an answer has not been provided.................DESPICABLE............many livelihoods and savings have been lost as a result of UWBK's seizure by the OTS..........will the US legal system correct this INJUSTICE....?????
...pathetic legal maneuvering only makes the situation worse.....
...My Summary Judgement 4-21-2012 date made in jest...
....the Judge outlined the court's parameters for final motions and I knew this.......and the Judge is firm with the rules..............
....I still believe the SEIZURE was an outrageous ABUSE of police power.................and this was only after I observed the OTS responding to the suit.................prior to the OTS response, I thought the bank was long gone and the UWBK suit was frivolous - - I and I owned the stock long before the illegal seizure..........
...and although I am long and strong with significant holdings...................I'm very down on the entire gov't....................okay, so see everyone in Sept., or Oct., or Dec..............................