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I've never made the trip, but over the last several years there have been many Ihub posters who have. Never heard of anyone being left outside.
United States Bankruptcy Court
District of Delaware
824 Market Street,
Wilmington, DE 19801
9:30am
Like to hear your personal review.
Login,
Might want to check in here if your interested in the audio for the next hearing.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66911625
The equity committee does not pay for the audio.
Thanks Bluzie2. I have definitely been one of those waiting to see the class action certification. I retained the Rosner Law Group to represent me and have been hesitant to cancel representation and rely on Broadbill and now Nantahala without any official notification of class status.
Mostly housekeeping at today's hearing. Will they have opening or closing statements? Both?
I missed some of it as my phone never fails to ring as soon as hearings start, but I believe it ended up that they were expecting two or three days for the trial and were planning on having closing arguments only.
The biggest bummer for me was that they were talking about setting a date as far out as early October for written summaries to be submitted. then the judge gets to mull it over for a few weeks also. It just drags on and on. Over 6 years for me. Much longer for some others.
Dimeq is on the docket as a status conference. No clue as to what else there is to discuss. There is a listing for certifying council for the trial. Just have to listen and see.
There is a hearing scheduled shortly.
Thanks to Dan:
**Hearing 9/6/2011 2:00PM EST - Phone Dial-in and Audio Archive
LIVE STREAMING:
http://www.justin.tv/astockinvestor
LIVE CONFERENCE CALL:
Dial-in at 1:50PM EST
Hearing begins at 2:00PM EST
The bridge number is:
712-432-1001
and when prompted for the access code enter:
477420980
You will hear no music just an intermittent beep until I join the call to the hearing.
Skype is reported to work well. Google Voice will not work as it has been blocked for some time.
AUDIO ARCHIVE:
To be notified as the audio archives become available:
http://twitter.com/WaMuAudio
The archived audio will be made available at the conclusion of the hearing:
Hearing Index: http://www.viewip.net/WMI/Hearing
WMI CALENDAR:
http://www.my.calendars.net/wmi
ADDITIONAL CONFERENCE ACCESS NUMBERS:
For those in Europe, here are additional dial-in numbers. Use the same pass-code above.
Germany 49 01805 00 76 18
UK 44 0870 352 0483
France 33 0826 100 265
Ireland 353 0818 270 030
Austria 43 0820 4000 1561
Belgium 32 070 35 9983
Spain 34 0902 88 60 36
Switzerland 41 0848 56 01 88
Italy 39 0848 39 01 65
got it. Thank you
Did I hear my name???
Hello guys, been following here for a while thanks to the CORSQ board.
I do have a question. Where are you purchasing the Dinar notes from. I've seen them on Ebay and such, but that just never seems like a good idea.
Thanks.
It's 9/12/11 2pm.
I'm thinking of taking a drive to the court. I'm much more heavily (both time and money) invested in this than Wamu. Not sure if Dan is going to be setting up the conference call and internet connection for us to listen in as usual for the WAMU proceedings.
Jared,
Thank-you for your thoughts. It's great to hear the Keegan is doing so well and gives me hope for our future. greg
Only knew Ralph from the boards here, but always enjoyed his humor and friendliness.
While always planning to help others with any windfall from my Dimeq,Wamuq or Corsq gambling, I, like others here, didn't have any specific cause. Unfortunately that all changed two weeks ago when my 20 year old son was diagnosed with Multiple Sclerosis. It's been a difficult couple of weeks, filled with research to gather as much information as possible. What I have gathered is that there has been incredible progress over recent years towards understanding this disease and real hope of finding a cure.
If the opportunity presents itself and anyone is looking for an avenue to help, please think of supporting research to find a cure for MS.
Greg
Hello,
Been following for a while now and after this last filing stating once again that equity is out, I have a question. Why would there be a desire to keep a plan involving equity a secret if it benefits everyone? Is there some party that loses out by going after the NOLs? Thanks
Ahh, thanks. My streamer doesn't show one or the other.
It was an interesting trade after such a long quiet period and I was a bit surprised to see it called a sell.
Curious as to why you think it was someone unloading and not someone loading up. The trade went through at .645 and .65 which were the ask price at the time of the transaction. The bid was down at .62
Do you think someone was able to unload a million shares at the ask and then have the ask price increase?
I know there is plenty of manipulation going on, but to me, the simple answer is that somebody put in an order and bought at the bid. It can't all be conspiracy stuff, can it?
Wize, That is a very interesting perspective on Mellon. Spread the blame so thin that nobody is at fault. Typical.
It seems Steinberg's strategy follows right along with the EC. No filing of an objection to the latest POR, no voting recommendations, no comment at the latest court hearing.
After the last hearing it feels like the EC is holding quite a few more cards than it's showing and is just waiting for the debtors to swallow it. The EC certainly wasn't the touting the proposed term sheet as a victory and in fact seemed fairly cold about the whole thing.
Steinberg is obviously well informed as to the strategy being followed as he is following in lockstep.
Some days I wish I had a fast forward button though.
Forgotten for sure. Even I'm guilty and my holdings here make my WAMUQ look like pocket change. lol
Officials Heighten Mortgage Scrutiny
By RUTH SIMON
State attorneys general are stepping up their investigations of mortgage-industry practices by probing for potential misdeeds when banks originated home loans and packaged them into securities, according to people familiar with the examinations.
New York State Attorney General Eric Schneiderman has issued subpoenas to four bond-insurance companies as part of his expanding probe of mortgage-securitization practices, people familiar with the matter said.
At the same time, California Attorney General Kamala D. Harris is expected to announce Monday a new law-enforcement effort aimed at mortgage-industry practices, people familiar with the initiative said. The effort will cover a range of activities, from loan origination to the packaging of mortgages into securities, and will include both civil and criminal prosecutions, these people said.
Mr. Schneiderman has issued subpoenas to units of Ambac Financial Group Inc., Assured Guaranty Ltd., MBIA Inc. and Syncora Holdings Ltd., people familiar with the investigation said.
The bond insurers aren't the subject of the investigation, these people added, but have been asked to provide information about their dealings with banks that packaged mortgage loans into securities. Bond insurers provided guarantees on a variety of mortgage-related products and have suffered heavy losses as a result of the mortgage meltdown.
Mr. Schneiderman's office has asked the bond insurers for information regarding claims paid to bond investors and about litigation and settlements the insurers have entered into with banks that packaged loans into securities, these people said.
An MBIA spokesman said the company plans to comply with the subpoena, which focuses on lawsuits filed by MBIA against banks that packaged loans into securities guaranteed by the company.
"Syncora did receive a subpoena from the New York Attorney General to provide certain information relating to mortgage loans, payments and potential settlements," said a company spokesman, who declined to comment further.
A spokeswoman for Assured Guaranty declined to comment on whether the company had received a subpoena. "We support the Attorney General with their investigation, which will hopefully accelerate the resolution of mortgage-origination, -securitization and -servicing problems," she said.
A spokesman for Ambac declined to comment.
The subpoenas are the latest sign of how state and federal officials are stepping up their scrutiny of the mortgage machine. Federal prosecutors, for instance, are using tools such as the Civil War-era False Claims Act in an effort to recoup government losses on soured mortgage loans. The tools available to Mr. Schneiderman include the state's Martin Act, which doesn't require prosecutors to prove intent to defraud. The Martin Act has been used by Mr. Schneiderman's predecessors to address a variety of alleged misconduct by Wall Street.
Bond insurers have argued they were deceived by banks about the quality of the loans they guaranteed. They have pushed banks to repurchase troubled mortgages and gone to court when that effort has failed.
MBIA, for instance, has filed eight mortgage-related lawsuits, most involving guarantees on home-equity loans and lines of credit that were packaged into bonds. These lawsuits generally allege the banks breached contracts and committed fraud by including loans in the bond deals that didn't conform with guidelines outlined in documentation related to the deals. In some cases, "as many as 90% of the loans reviewed didn't conform with underwriting guidelines," an MBIA spokesman said.
In its most recent securities filing, Ambac said it has used the results of detailed loan-file examinations "to make demands for loan repurchases...and, in certain instances, as part of the basis for litigation filings."
Bank of America Corp. in April agreed to a $1.6 billion settlement to resolve repurchase claims filed by Assured Guaranty. Assured Chief Executive Dominic Frederico told investors in May that the company "will pursue fraud claims where applicable" in situations where banks don't agree to repurchase defective loans. In announcing the April deal, Bank of America called the agreement "an important step towards resolving" repurchase issues related to its purchase of Countrywide Financial Corp.
Write to Ruth Simon at ruth.simon@wsj.com
After all this time, I can't believe they are just deciding now that they could save a little coin by working together. I have to believe that the order to declare holdings had something to do with it. Has there been insider trading on this side of the house also?
That's what Rosen was insinuating when he was looking for trading records. If the accusation was against the other side (like it is), we'd be all over it.
It just doesn't seem right to me.
BK,
I believe that is only for hand delivered objections. All the big names are required to file electronically and they get posted to Pacer immediately and shortly afterwards to KCCLCC.
Just saw the typo note. That is the first I heard of it.
The only information available on Pacer concerning the mediation is the report due date.
184 Mediation Report Due 06/06/2011
Voting seems to be the topic of the day here.
I have received a pile of material for my various holdings in different accounts. I have not, and do not expect to receive voting material, other than the notice of non-voting status to impaired classes, for any of my WAMUQ holdings. I do have voting packets for my DIMEQ holding.
I would just like to have someone clarify as to why there is so much discussion about voting yes, no, releases and such when none of it is an option here. Are you all talking about the voting rights of the various flavors of WAMU excluding WAMUQ? If so, please mention that in your posts so there isn't confusion.
Am I missing something again? My notice says WAMUQ is an impaired class. NO VOTING.
Mediator order was signed 4/7/11
Mediation report is due by 6/6/11
04/07/2011 184 Order Assigning Adversary Proceeding to Mediation. Alan W. Kornberg is Appointed as the Mediator in this Adversary Proceeding. Trial date set for 9/12/2011 at 02:00 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #4, Wilmington, Delaware. Mediation Report due by 6/6/2011. Signed on 4/7/2011. (SLF) (Entered: 04/07/2011)
thanks Wise,
It's to be Alan W. Kornberg as soon as Walrath signs the order.
I checked earlier today and there was no new info about the mediator. Pacer is currently not working for me, so I'll check again later.
Your following too many Qs at once. See you all over the place. lol
no, by April 30, not March 30.
Sure mrholty,
It's case no. 10-50911 and the mediation order is docket no.176 (Order Assigning Adversary Proceeding To Mediation and Appointing a Mediator)
On Pacer.
Judge signed the order for mediation on 3/28/11. The parties have 5 days to agree upon a mediator or the court will appoint one. Mediation is to be completed no later than April 30, 2011.
She did not rule on which class we will fall into.
Mediation with Rosen didn't sound very promising. The judge can rule that everyone has to show up, she can't force the parties to play nice. that means we will probably be up in the air till the trial in Sept.
Joe,
try searching case 10-50911
Welcome back,
Court hearing last week was only about 15 min long. The DIMEQ trial date was set for Sept. The pre-trial hearing has been left to be decided at a later date so they could all check their vacation calendars. That was about it.
I want to say yes right away, but without a link it's meaningless. I'm looking back to see if I can find it, but so far have only gone back far enough to see many filings listing "Filed by Class Plaintiffs on Behalf of the LTW Holders ".
I'll keep looking. I know it came up several times in court and was even clarified in court that the LTW holders would be treated as a class action.
Solutia warrants are now being recognized by Yahoo qoutes as SOA-WT,
http://finance.yahoo.com/q?s=SOA-WT
Trading on the NYSE
Solutia Warrants, SLIWW, are now being traded on the American Stock Exchange under symbol SOAWS.
This is good news for any warrant holders as it should bring help with liquidity and also allow the warrants to trade closer to the Black-Scholes value.
Jared,
Not much other than a few mentions by Steinberg to put some items on record to keep Rosen straight and when he jumped in to the discussion about unfiled claims or late filed claims.
The claims issue was mute because DIMEQ is now being treated as a class action.
This was probably the most confusing hearing I've listened to. Nobody seemed to know just what the judge wanted as far as revising the POR or if she wanted a new POR. She did a horrible job of clarifying her position and it seemed to me that once again, everything has been pushed off to the next hearing.
finally bringing up NOL and valuation
yes, listening now and they are currently arguing about whether a new plan is needed or if small modifications to the existing plan will be enough.
Of course, Rosen wants small changes and no discovery allowed.