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Agreed. I think/hope the EC may have a seat at the table finally because JPMC and FDIC want the releases. There must be lots of shareholders with enough firepower to sue JPMC and FDIC. Therefore they might want the releases badly.
JMHO!
Correct! Maybe that gives us some leverage with Susman still in the drivers seat.
Mordicai has thrown in the towel:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58557875
I won't. I am in for the endgame.
Page 58 is really upsetting me. She basically states that JPMC may collapse if the debtors are trying to collect their billion dollars.
How sick is that?
Exactly! I've already started.
Agreed. This will be bullish IF the GSA is not extended.
Imho
A recommended read and i didnt see it posted here:
Friday's court action summary by philipmax from the DIMEQ board. Thanks philipmax.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57394040
THX to rainbow111 for finding and posting this (@WAMPQ-board).
All the future convicts in one list. eom
Excellent objection! eom
Susman is moving in for the kill!
They are talking about the unaudited MOR, i guess.
IMHO
I guess 17 billion of tax refunds are interesting for a big company that can use it, but I guess they are not going to be so silly as to pay 17 billion in tax writeoffs at face-value.
This is the FAQ which was handed out before the "auction":
http://www.ghostofwamu.com/documents/Examiner/4379/FDIC31888.pdf
#10 clearly states that the tax asset cannot pass to the acquirer.
Yeah, its crazy!
"auction" because there hasnt been a thrift to auction for on the 24th of september because the OTS seized WaMu on the 25th and placed WaMu in receivership!
And secondly an "auction" is a type of sale where the price is neither set nor arrived at by negotiation, but is discovered through the process of competitive and open bidding.
No such thing here.
She was right using quotes.
They got these docs since these docs are part of the examiner report. And they got these probably way ahead of us.
I wonder if SB is getting a lot of phone calls these days since her phone number (home) in the "congrats"-email to JD has not been blacked out.
The litigation claim gets colorable day by day...
We are definitely playing the river here. But we got a good hint at what might be coming with the last draw:
IMHO: WGM stated that the sealed document is the litigation strategy for the debtors. A work product composed before the debtors choose to settle with the FDIC and JPMC. It could be highly explosive because the work product might show the value of the litigation claims.
I know its a lot "IF"s and "could be"'s but the Hoffman letter struck some nerves.
So for me it is: All-in and gimme that last card.
Another modification? Man, they got nerves...
...in direct contravention of the explicit terms of the ... agreement," the bank wrote.
What about an appeal if the POR gets approved?
I am not familiar with the US Justice system but i would think that you can appeal a decision (= confimration of the POR).
Very good and no surprise.
In my very, very humble opinion: We're still in the game. And we're in it to win it.
but how do they hide Susman’s objections?
California Franchise Tax Board requests that the confirmation of the POR be denied:
http://www.kccllc.net/documents/0812229/0812229101118000000000034.pdf
Someone else is not amused regarding the POR:
http://www.kccllc.net/documents/0812229/0812229101118000000000035.pdf
That confirmation hearing on the 1th should be fun to listen to.
In the case of WaMu, the FDIC had adequate time to
develop strategies and understand the risks associated with those strategies.
In addition to the Lead Banks’ receipt of interest in their capacity as lenders under the
Credit Facilities, Wells Fargo and JPM will be entitled to certain customary and
negotiated fees and the reimbursement of expenses in connection with their roles under
the Credit Facilities.
Did i read this right: A&M is getting credit monies by JPMC and Wells Fargo?
...each of the Lead Banks have agreed to provide financing.
The Tricadia guys will be heard on the 23th:
http://www.kccllc.net/documents/0812229/0812229101117000000000002.pdf
Idea and link courtesy of Mordicai:
Mason has done a hell of a job. eom
I think they refer to the filing of the amended DS on 10/6 and not the hearing on 10/18.
Looking at that october application for compensation of Ashby & Geddes i get the impression that they are loading up a lot of ammo for the POR v6. They spent many hours on the POR.
Feels good.
AIMHO
Ashby & Geddes (EC Delware Counsel), october 2010:
"Attention to revisions to DS regarding additional disclosure of NOLs"
They are not sitting on their hands.
http://www.kccllc.net/documents/0812229/0812229101117000000000045.pdf
AIMHO
The work of PSJ for october 2010:
Looks good to me. A lot of hours spend on asset analysis and litigation.
http://www.kccllc.net/documents/0812229/0812229101117000000000046.pdf
Objection to the POR. eom
Reading the objection i get the feeling that EC got some poison filed under seal. Poison for BR that is.
An objection to a shareholder letter is unheard of. Hoffman struck a nerve.
Nice. Very nice.
Atta boy!
Awesome! eom