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I would only buy a cheap mine. I think relief canyon is to small to attract big companies and small companies will not have deep pockets to throw around millions.
But the question is: Will they issue new shares and cancel old equity like most chapter 11 or will we participate in the restructured company?
Would be nice to hear Mordicai's opinion conserning the Hoffman letters,TPS,Tricadia and WAMPQ's actual situation???
Firstgold is much to small to atract big gold companies!!
I doubt that we will ever see bids bigger than 30 million USD. IMO bids will range between 15 and 25 million and equity will be toast like in most chapter 11-litigations!
Hopefully institutionally investors will buy on Monday.
I think this will end like most chapter11. Equity will be left without anything!!!
How do you know this?
Does anybody know whether Hochberg has seen Solomon's numers for his examiner report?
so maybe susman should no longer fight for cash but a 50% stake in the new company for old equity shareholder!
Yes, but I think the EC is actually running out of time!
I sold my traiding WAMUQ position last Tuesday but I have not sold one single WAMPQ. Actually I only hold WAMPQ here and I intend not to buy or sell one single share till the end!
I think there is little hope left for prefs. Maybe we can see 10%! But commons are already toast!
It all depends on Susman's strategy! Will he fight for Prefs without commons,too? Or will he only accept an offer including commons?
I think maybe Rosen is willing to give something to prefs. Maybe it's not cash but shares of the new company or some warrants like in the Tronox Chapter 11!
Actually I wished I had sold my shares 2 weeks ago!
Mordicai, what do you think concerning Susman changing his strategy now?
Wouldn't it be better for Susman to agree to the release of all claims for changing the tax sharing agreement to bring at least some money to prefs!
I think there absolutely no chance for commons any longer without claims against FDIC and JPM but there is still a chance for Prefs only by changing the tax sharing agreement or by finding some hidden assets!
Why isn't Susman demanding a hearing conserning valuation of assets?
Commons are 7 billion out of the money and the examiner stats that they will never see any recovery but prefs may see some recovery because they are only 500 million away! So maybe Susman should give up commons and concentrate on Prefs!
Actually we have POR6 with Prefs being 500 million out of the money. Does anybody remember POR1??
How far were prefs out of the money in POR1???
Would be nice to hear your opinion concerning our actual situation!
Is this over for all classes of equity?
Yes, but I think the judge will follow the examiner in most cases. I think our chance for THJMW ignoring the ER is realy is not good!
Susman will not have enough time to start a trial - it's written somewhere in the POR already: If the POR gets approved the shares will be cancelled and the EC including Susman will disappear!
THJMW thought: "The examiner is useless, this has already been investigated to death!" - She was right!!!
THJMW thought: "I don't think equity is worthless!" - She will be right!!!
She gave us the EC because there is enough money to bring at least prefs in the money - it only has be divided in equity's favor.
After 5 days of reading and brainstorming I'm of the opinion that Prefs are still in an acceptable position.
Only 500 Million out of the money - with billions available as tax refunds- chance not so bad imo!
Susman will find a way - at least for prefs !
But that are no new informations. The examiner knew all this and came to his conclusions!!
The most important question imo is: Has Susman shown all of his important information to the examiner or there something left to make pressure on Rosen?
We all remember the 2 hour private conversation in the judge room. Did the examiner know of this information and valued it as useless??
The seizure was "not optimal" but there is not enough to follow claims!
Maybe shareholder should collect funds and hire an attorney to start their own jury trial against the FDIC? Perhaps a jury would decide in our way?
So why doesn't JPM simply merge with the remaining WMI and would benefit from the NOLs too???
How can the NOLs be declared worthless from the Examiner?
They are only actually worthless for WMI but could mean billions for a merger candidate?
There is enough money for prefs available - Susman only has to fight against the tax sharing agreement!
Tell me the reason to share our taxes with the FDIC!
So as a laywer could you please share your opinion about the examiners report and the chance of WAMPQ to get some recovery!
Do you think that the EC has still a chance to make a profitable settlement for equity.
The examiner found nothing positive for equity and I think that Susman has already shown all of his informations to Hochberg, but the examiner thinks it's not enough to win a case!
So Susman needs new bullets for his gun or he can't shoot Rosen!
It would be realy interesting to know why the two members have left the EC especially at this moment.
At the moment I don't see much hope left for us.
My opinion:
95% - game over
5% - around 50 USD for prefs if all goes fine
Same for me!
Some time ago I sold all of my WAMUQ and bought WAMPQ instead because I was of the opinion that WAMPQ is so close to be in the money that one single positive point for equity would be enough for at least 5% recovery.
I realy can't express how disappointed I'm about this BS-Examiner report. Man, only some change in the tax-sharing aggreement would be enough to give us at least 5% recovery!!!
But I'm confident that Susman may find a way to get some recovery for Prefs, but commons are toast.
At the moment I'm a little concerned about our EC, because EC members only hold commons, right???
So I think the EC actually goes for: Either commons will get something or nobody!!!
Hope I'm wrong with this feeling!
Has anybody heart anything from the two EC members that quit the EC?
Anything heard about their reasons?
Will there be two new members?
Hello guys,
how far is equityout of the money at the moment?
Does FGOCQ have an equity commitee in this BK-case?
Perhaps they simply think: Game over!!!
I think he is still shocked like I'm, too.
I'm from Germany and I didn't received any information!
Hochberg thinks it belongs to the deptors - it's already calculated in his numbers!
Look at page 29: " Preferred shareholder are at least 500 million out of the money!" - "There is a small chance of modest distribution to preferred shareholders!"
So there is little hope left for WAMPQ, imo!!!
Only 500 million out of the money?
So as the Examiner has said, preferreds are out of the money by only 500 million $, right?
Without a correct asset valuation, does anyone doubt there will be more than 500 million $?
I think Sussman and Solomon will find our 500 million and I truly belief that our NOL are worth much more than 500 million but I think commons are already toasted!
I realy wished that at least one single point of the examiner report would have been good for equity - even 3/12 was a better day for equity.
I realy belief that prefs still have a chance to get at least 20% face value - but commons????
Yes, but it seems like the examiner does't think that it is important!
So it looks like all equity classes actually are toast, but we are only 500 Million out of the money. Is there any chance for prefs to get some recovery??
I think for commons the game is over imo!!!
I'm not greedy, you can buy my shares for 900 USD!!!
FFM is not closed today!
Greetings from Germany!
You are talking BS. Taking profits is always good!
With the right news this willl move to fast to follow or to jump on it!
This stock is definately ready to skyrocket!