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The 6/3 hearing had 2,613 callers.
**Tacoma,WA Hearing 6/17/2010 - Phone Dial-in and Audio Archive
VENUE:
US BK Court of Tacoma Washington
AGENDA:
Oral Decision To Be Rendered. (Related document(s) 11 Motion to Transfer Adversary Case to Another District, 20 Motion Remand). The oral decision will be rendered by telephone on 6/17/2010 at 11:30 AM EST at Judge Snyder's Courtroom H, Union Station.
LISTEN LIVE:
Dial-in at 11:25AM EST
Hearing begins at 11:30AM EST
The bridge number is 712-432-1001 and when prompted for the access code enter 421850822
You will hear no music just an intermittent beep until I join the call to the hearing.
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
Hmm.. that's 11:30 EST time. Two hearings at about the same time.
True... but I think Susman would smartly sue a reporter to tell the story. Pressure is building though and the truth may find its way out relatively soon.
The FDIC is acting like all agencies and is protecting itself from bad news. Gov does not like FOIA. The courts like FOIA and see the need for it.
The doc just came out and people are at lunch. Give it some time.
No one knows Susman's game plan. Who's to say Susman didn't fight just hard enough to make this discovery agreement realistic.
Susman:
"Rosen you only want to give us even page numbers? I disagree but if that's all you'll give us ok."
"Your honor, this agreement is clearly insufficient and ridiculous. We tried our best but it falls way short of your honor's instructions."
And by today noon we'll see the EC's response to the examiner objections. It should be quite telling as to how the M&C went.
See June 16th below.
http://www.my.calendars.net/wmi/d01/06/2010?style=C&display=M&positioning=A
If things go our way this place will be a zoo.
40 listening? Try 1000+
Not true. Different BK.
**Hearing 6/17/2010 - Phone Dial-in and Audio Archive
LISTEN LIVE:
Dial-in at 10:25AM EST
Hearing begins at 10:30AM 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.
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
**Hearing 6/17/2010 - Phone Dial-in and Audio Archive
LISTEN LIVE:
Dial-in at 10:25AM EST
Hearing begins at 10:30AM 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.
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
Thanks. They'll make anyone a mod these days. LOL
I actually just wanted to help cleanup those spam messages but the job was done by the time I was made a mod. I'm ready for next time though.
Objections due by 4:00 PM EDT to Equity Committee new motion to appoint an examiner (Del).
http://www.my.calendars.net/wmi/d01/06/2010?style=C&display=M&positioning=A
I'm looking forward to see what they've got.
I want to test a little tool that animates a photo with voice audio. Anyone have a mp3 clip they can recommend and send to me for it? wamuqd, might you have something?
Thanks.
Well.. at least lunch should bring us up to the #1 board. LOL
Sure.. let me bring it up on my phone and.. aw jeez.
Cell phones cannot turned on during the hearing; though texting might be ok. We might get twitter updates. So no live audio. We tried.
Excellent. I haven't read the boards at all yet today.. what twitter links will be active today for the hearing?
As of right now we are -NOT- going to be live in the court room. Phone lines are limited and I was bumped off the conference line for attorney's. I'm still trying to work my way in.
I like the letter. But I would say that I want Rosen to remain.
He has lost credibility with Walrath. For us to get him removed might be doing him a favor as he might already want out but to be voluntarily replaced might be seen as a huge weakness for their position.
I understand many are concerned with the billings. But please remember that at the end of this case Walrath can go back and revisit all the billings. And I think she will revisit the billings at a later date and reduce many of them.
My post was tongue-in-cheek to address Rosen's big concern about preparing for the DS on the 17th.
In truth, and I hope Walrath thinks of this as well, I don't know what Rosen has to prepare for concerning the DS on the 17th since he was to have been prepared for it at the last hearing. He presents a very shallow argument.
It is possible we will get a preview of the meeting's outcome at the hearing on the 11th. If Rosen attempts to use the meeting on the 10th to support his case against the shareholder meeting. Susman's team will then respond with their version of the meeting.
All the more reason for us to have ears in the courtroom on the 11th.
Perhaps Walrath should simply rule to reject the DS now so Rosen has free time to respond to the new Examiner motion. Just saying.
We're waiting on KCCLLC for the debtors objection to motion to shorten.
Exactly. I think Susman would not have filed this until the meet-and-confer was shown to have gone no where.
Weil stands no chance against this master tactician. Glad he is on our side.
Isn't that withdrawing the document production request and not the depositions?
My interpretation is that the debtor is thinking, if the EC wants our privileged work product then we want yours. I don't think that will fly with Walrath in the least.
I think it is only a withdrawal for the request of documents. I think the depositions are still on the docket.
But it is interesting that they pulled the request.
To me the following has changed because of bad faith actions by the debtor; aggressiveness by debtor towards the EC looks bad; while aggressiveness by the EC towards the debtor looks fair.
Saw on ETrade there was a downgrade today of JPM, to HOLD. Of course, the street knows HOLD means SELL.
I thought I'd just grab some commons for the fun. Got a partial 90% fill at .1599
I want on all issues so I can enjoy all runs. LOL
**Hearing 6/11/2010 - Phone Dial-in and Audio Archive
AGENDA: Judge Snyder / Tacoma, WA hearing on motion to transfer, stay or dismiss the instant action
LISTEN LIVE:
Dial-in at 1:25PM EST
Hearing begins at 1:30PM EST (10:30AM PST)
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.
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
Bottle? one? You insult me sir!
LOL
Hmm.. there are no coincidences correct?
Mr. Diamondguru are you not in fact
<suspenseful riff>
Dr. Sankarshan Acharya!
Has this been posted yet? See the portion I put in bold.
-Dan
BANKRUPTCY WEEK AHEAD: AbitibiBowater Seeks Financing Pact Approval
Last update: 6/4/2010 12:52:46 PM
By Patrick Fitzgerald
Of DOW JONES DAILY BANKRUPTCY REVIEW
Canadian paper maker AbitibiBowater Inc. (ABWTQ) will head to bankruptcy
court Friday in Wilmington, Del., seeking court approval to auction off the
rights to fund its exit from bankruptcy.
The Montreal company is asking U.S. Bankruptcy Judge Kevin J. Carey to sign
off on the rules governing an auction for a rights offering of up to $500
million backstopped by a group of its noteholders.
Fairfax Financial Holdings Ltd. (FRFHF, FFH.T) and Avenue Capital Management,
along with other noteholders, have agreed to serve as the stalking-horse
bidders at the auction scheduled for later this month. In exchange, they'll get
a payment of the larger of $15 million or 6% of the total amount of the rights
offering.
Unsecured creditors will have the right to purchase up to $500 million in
unsecured convertible notes through the rights offering. Fairfax, Avenue and
other noteholders have agreed to buy any unsold shares.
AbitibiBowater, the world's largest newsprint manufacturer, filed for
bankruptcy protection last year in the U.S. and Canada to restructure some $7
billion in debt.
Newsprint producers have struggled as waning newspaper readership dragged
down demand. Since 2007, the company has cut its production capacity by a third
and has sold assets for more than $940 million.
The company's restructuring plan calls for AbitibiBowater's unsecured debt to
be converted into stock. Under the plan, current stock would be canceled and
shareholders would recover nothing. AbitibiBowater expects to exit Chapter 11
protection in the fall.
Shareholders of Washington Mutual Inc. (WAMUQ) will be in a Tacoma, Wash.,
bankruptcy court next Friday seeking to force the company to convene a
long-overdue shareholders meeting, a session where they'll have a shot at
ousting the board of directors. Washington Mutual, former parent of Washington
Mutual Bank, or WaMu, filed for bankruptcy in September 2008, and is pushing a
Chapter 11 plan that would wipe out shareholders. The company hasn't had an
annual meeting since April of 2008.
Lawsuits over the loss of WaMu are worth $20 billion, shareholders say, and
WaMu's former parent should never have agreed to a proposed settlement that
leaves shareholders with nothing.
Voting out the board, shareholders say, could be the first step toward
getting a better deal in bankruptcy court, where Washington Mutual is poised to
push through a Chapter 11 plan that is based on the proposed settlement.
WaMu's former parent has opposed efforts to compel a shareholder meeting,
claiming it's a waste of time and money that may jeopardize recoveries for the
bankruptcy estate. The bank holding company wants to move ahead with a Chapter
11 plan deal that ends legal battles over cash, tax refunds and claims of
wrongdoing stemming from the loss of WaMu.
On Tuesday in New York, Neff Corp. will seek bankruptcy court approval to tap
the remainder of a $175 million loan the construction-equipment rental company
needs to fund its business during its bankruptcy case.
Judge Shelley C. Chapman of the U.S. Bankruptcy Court in Manhattan last month
signed off on the Miami company's bid to borrow $35 million from a
debtor-in-possession loan being provided lenders Bank of America Corp. (BAC),
Wells Fargo & Co. (WFC) and GE Capital Markets Inc.
The bankruptcy lenders are receiving nearly $5.5 million in fees for
providing the Chapter 11 financing, which converts to exit financing upon the
company's emergence from Chapter 11.
Neff filed for Chapter 11 bankruptcy protection in May with a deal to hand
control to first-lien lenders Wayzata Investment Partners and Apollo Capital
Management.
Under that plan, Wayzata and Apollo would swap their debts for equity in the
company and would agree to backstop a $119 million equity-rights offering. The
proceeds of that offering would be used to pay senior and junior lenders that
opt for cash payments rather than for stock in the company.
Neff, among the 10 largest equipment-rental companies in the nation, cited a
downturn in the home construction and commercial building sectors for its
financial woes.
(This item appears in Dow Jones' Daily Bankruptcy Review newsletter.)
-By Patrick Fitzgerald, Dow Jones Daily Bankruptcy Review; 202-862-3544
(END) Dow Jones Newswires
06-04-10 1252ET
Copyright (c) 2010 Dow Jones & Company, Inc.
> She is not going to approve any disclosure statement that is incomplete and evasive.
That is a real hidden element of the proceedings today. To me, she was very adamant that WMI was going to have to -truly- prove their POR. She is going to require them to defend every detail. This is an extremely important position for her to take and it greatly benefits fairness and in turn equity.
**Hearing 6/3/2010 - Audio Archive Online
Audio for the 6/3/2010 hearing is now online. http://www.viewip.net/WMI/Hearing/
-You're- complaining about too many minutes? Try mine. LOL