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But what if Rosen offers 99% for Prefs and nothing for Commons?
I would take the offer, but the EC focused on Commons would regret the offer.
So we have 3 new EC-Members, but are Prefs still adequately represented in the EC or is the EC only fighting for commons now?
If the EC only owns WAMUQ TPS will be the only one to fight for Prefs.
That would be great, but I think it's just a dream!
but you should buy prefs - commons are way to risky at the moment imo!!
So what is the actual share structure and how many air-shares have been issued by the old BOD?
No, me too! No more commons - only prefs!
Hopefully it's not a sign for more bad news! Perhaps: Yor honor we could not find any evidnce for insider traiding - game over! Sorry!
Just kidding!!!
We already had thoose feelings! First with the settlement last March and then with the examiner - hopefully this time something good for equity happens. I have the feeling that this is our last chance - otherwise the new POR will be accepted and we are done!
Thanks for your answer! I always liked your judical expert knowledge! Maybe you can post more of your thoughts in the future!
Hello Mordicai, good to hear you are owner of some P's!
May I ask a private question:
Are you still owner of your P's or have you bought back your shares because of new circumstances after you already moved on?
I'm not sure about it. I think if he has thoose good numbers he would already have dropped the bomb on the last confirmation hearing!
I would be satisfied with 150$ settlement, happy with 500$ and full value with 1000$ would change my life forever!
Maybe you can catch a comment from our team!
It realy doesn't look good at the moment for equity imo!
Exactly my opinion. Timing is very important and Nelson knows the game!
I have to agree. One year ago I only held WAMUQ, but today I only hold WAMPQ.
Actually it doesn't look very promising for equity. I don't think any longer that commons will see any recovery and even for prefs it will be a hard fight to get something!
Yes, she ruled on presented facts - so the EC needs new facts to change her mind, but imo the EC doesn't have new facts, otherwise they would have presented them already to the examiner or at the confirmation hearing!
Only positive things for EC at the moment are:
1.The new 5 Billion NOLs in 2011
2. That JPM and FDIC have to pay for releases in the chapter11 case - but I doubt that they care about it. They will settle without releases from shareholders. This case will be over and they know that anybody has enough power to fight in court against them for years!
I actually see a little chance for prefs to get something but no chance for commons at least in this chapter11 case!
Yes, I have to agree. I doubt that JPM/FDIC will pay billions for release of shareholders. Anybody will sue them after this chapter11 case is over!
I'm of the opininion that FDIC/JPM and WMI are still ignoring the EC within their negotiations!
Yes, but I realy hope the EC will not be to greedy for WAMUQ - hopefully JN/SS don't play "all or nothing" in this case!
- She launched the EC!
- She approved the Examiner
- She denies Rosens POR
Actually there seems to be not enough money for equity with Rosens numbers, so based on facts she can't give anything to equity, so what did she do: She told everybody: Well, your POR is not bad, you can get it, but if you want releases from third parties you have to pay for it!
Thinking of it I would say: A clever move!!!
That was her opinion based on the facts that have been presented to her befor the 1st of january and statet in the old POR -now we have a new round with 5 Billion in NOLs and maybe Sussman can present some numbers showing at least pref in the money!
What we realy need is an asset evaluation hearing!!
Were they a pre-seizure holder or did they bought after ch11 was filled?
I'm a little afraid conserning Sussman and the EC! I'm afraid Sussman will only accept an offer that includes something valuable for commons and will not be ready to sacrifice WAMUQ for welfare of Prefs!
Willingham only owns commons and nearly all other members have already left the EC, right???
I think she found a way to denial the POR by keeping it partly intact. IMO she denied and said: "You can still get your POR including the releases if you pay for it!"
The old POR is dead - so now it's on the EC to ask for an asset evaluation hearing and proof that there is enough value for Equity!
Remember what THJMW said: She will rule on proven facts!!!
The game is still on and EC will fight without gloves, imo
Yes, that's actually all we need: POR denied - and I truely belief that's all Susman needed at this time!
It's far from over - the settlement table still exists and if Rosen doesn't want an EC-POR and if FDIC want third party releases they have to settle with EC!
It has a bitter taste but it still tastes good for equity!!!
POR is denied, but what is your opinion, mordicai???
That doesn't sound very confident! So you think prefs will only get a small recovery and commons will get nothing?
So, no traiding on CGCGQ any more - is the chapter11 case finished and our stock has been cancelled or what's going on?
I agree to your statement, so a settlement with equity will be somewhere in the middle:
Prefs will get paid 50 Cent on the Dollar, old commons will be cancelled but will get warrants for the new issued shares!
If they realy sold the assets for 11 Million it's game over for equity here.
Yes, I already thought the same! Maybe BR should think about "safety first" for his family. I realy hope for him not to many equity holders have seen "Mel Gibson's Payback" and are friends of the old testament!!!
As long as they give me 25 JPM for 1 WAMPQ I will be satisfied! LOL
Yes, bidders don´t want to pay fair value - they want everything for free!!!
I hope the last two traiding-days were no "insider-traiding", otherwise equity is in trouble!!
Actually I have the feeling, that the EC will only accept an offer which is good enough for commons, so prefs only get their money when commons get enough to satisfy EC!!
Our fate is chained to commons!!! Not a good development imo! If the EC is to greedy prefs will see nothing, too.
What's your opinion Mordicai?
Is Susman in court?
That is exactly how I feel at the moment. Actually all my hope is in TPS but I'm not sure that WAMPQ will benefit from TPS-success. Perhaps TPS will be paid and Prefs are a few billion smaller but still 500 million out of the money!
All this informations about JPM and Project West are very interesting, but it seems like nobody except us is interested in it!!
I doubt that the EC can use this informations in cout on Dec,1st.
What are our remaining options if POR gets approved on the first of December?
PPS will be a good indicator next week in my opinion!!! There are always insider and if there are already bids above 32 Million there should be buying pressure next week!!