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One heck of a hammer... Let's see if it the bulls can get it to open green in the morning. If so, watch out for a run...
NITE ON .0117 FOR 275K
ATDF ON .0117 FOR 160K
Getting ready for a big bounce...
Just logged on. SWEEEEEETTTT!!!!! EOM.
One thing I like about this penny's PR's is that they have detailed information without placing vague coded messages. They take the time to lay out all factual information and present realistic expectations (ie slow production at first). Definitely not common in penny land. I truly think that given time, under current management, this company and it's stock will prosper. At this price point, this really seems to be a bargain basement stock.
A ten thousand dollar bill found in a Goodwill store .50 cent book.
If you don't have ET Pro or don't have that many trades, you can get a free 90 day trial here:
https://us.etrade.com/e/t/jumppage/viewjumppage?PageName=pettrial_instruction
May have to copy and paste the link...
Could also be because it didn't actually hit the news wires so the market doesn't have anything to react to.
Back to previous close! EOM
20% of the float traded so far today!
Let's run. I like blue skies...
Thank you... Finally some not-too-common sense. Ha.
I didn't know anything could drop more than 100%. I may have to rethink my strategies. Ha. Had to laugh. Good luck to you.
OT.. Has anyone solved the double prints on etpro for all pk's and otc's?
***ETPro News***
No link yet...
Yeah, well what's your source in London saying these days about WAMUQ. I remember when you started here. The "fiction" you talk about; I seem to remember some very fictitious posts very early in your posting career on this board.
Shareholders here are better off than we were before by a long shot. Take it or leave it.
Long faithful iggy on you.
I listened to it during the day and recapped last night. I feel that her tone was one of someone tired at the end of a long day taking in information and for once trying to be objective. There has to be some confidence in the objectors arguments and I feel that the confirmation hearings put forth the necessary info to put her in a corner forcing her to make the right decision. We are all worried that it may not go our way, but we can't do anything about it.
For once, during the confirmation hearings, she sounded like she was starting to see what was unfolding. Maybe she knew but wanted the lawyers to notice it. Who knows. Right now all we can do is wait, and wait, and wait. Unfortunately waiting creates impatience and impatience creates doubt. For once I think we aren't hanging on by a thread, we have a foothold and a safety rope attached to us.
Again, JMHO
C
Vooo... With all due respect, I feel she is making that statement refering to the closing arguments. She heard what she needed to hear during the confirmation and the recap may not have changed anything. We can't do anything now except hope and the panic and dismay isn't helping. It's time to take a step back and take a deep breath.
JMO
NVRMIND. Duh eod. HAHA
To me this says that a real judge wants to find out exactly what was transferred...
News on ETPro... It's Peg...
By Peg Brickley
Of DOW JONES DAILY BANKRUPTCY REVIEW
Aurelius Capital Management has dropped a challenge to the settlement that
forms the core of Washington Mutual Inc.'s (WAMUQ) Chapter 11 plan.
The hedge fund says it doesn't want its quarrels over the fairness of the
bankruptcy settlement to hold up an expected $7 billion pay day for creditors
of the company, the former parent of Washington Mutual Bank, or WaMu.
Final arguments are set for later this month before Judge Mary Walrath, who
rejected Washington Mutual's Chapter 11 plan earlier this year and is now
weighing a revised version. The plan is under attack by shareholders and others
who will be left with little or nothing if the plan goes through.
Opposition from Aurelius arose late in the proceeding and stemmed from the
hedge fund's impatience about when it could cash in its Washington Mutual
investment.
WaMu was seized and sold by regulators in September 2008, touching off a wave
of legal actions involving its former parent and its new owner, J.P. Morgan
Chase & Co. (JPM).
The Chapter 11 plan now under court consideration is based on a settlement
that resolves much of the legal trouble and divides cash among regulators, J.P.
Morgan and Washington Mutual. Aurelius once was an avowed backer of the pact,
along with other hedge funds that stood to profit from Washington Mutual's
collapse.
Debt bought for a fraction of a dollar in 2008 will be paid in full, with
interest, under the plan.
In June, however, Aurelius did a turnabout and attacked the Washington Mutual
settlement. The settlement was no longer a good one for creditors due to the
delay in getting Washington Mutual out of Chapter 11 and getting cash into
creditors' hands, the hedge fund said.
Until the settlement is approved by way of an order confirming the Chapter 11
plan, J.P. Morgan can hang on to $4 billion in cash that was sitting in
parent-company accounts at WaMu when the thrift was seized.
The cash is accruing interest at a low rate during the delay, feeding what
Aurelius reckons is a loss of several hundred million dollars. That loss
estimate also includes the monthly accrual of interest on senior debt and
professional fees, which have been running at an estimated $40 million per
month.
In a court filing Wednesday, Aurelius said it was standing down from a demand
that the court review the settlement in light of the delay because such a
review could mean a longer delay and more punishment for the lowest-ranking
creditors.
Delay costs are feeding some senior creditors because their debt is accruing
interest at the contract rate. The delay is eating away at the expected
recovery to junior classes, including holders of a security known as the PIERS.
At one point in the case, Aurelius reported owning $128 million worth of the
PIERS securities. The hedge fund has declined to say whether that number has
changed.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and
those under bankruptcy protection.)
-By Peg Brickley, Dow Jones Daily Bankruptcy Review; 302-521-2266;
peg.brickley@dowjones.com
(END) Dow Jones Newswires
08-18-11 1339ET
Copyright (c) 2011 Dow Jones & Company, Inc.
13:39 081811
Same price as the 2m block. Looks like a completion. Whether in full or partial who knows?
Just saw that!!! EOM
So let me get this straight... If the judge finds in favor of the equity committee, then the SNH's get removed/ jettisoned, possibly fee clawbacks, etc, putting equity in the money and then in a position to craft a new POR and renegotiate settlements with all the parties or to pursue litigation. Don't you know this has the FDIC and JPM and Rosen et al b@lls twisted up in knots. This is going to be good.
How I love a good chess match.
P's trying to run. 29.95. Be on watch... EOM
Can anyone able to appear in court submit a motion for the FDIC to produce the 3.1a. If in proper format and as a motion, the judge has to hear it. How can bankruptcy continue without a list of what was given to JPM with a cherry on top.
There's always some evidence left to find when someone makes an attempt to hide something. You just need to be in the right spot and have a powerful enough microscope to find it.
Current list of everything on Pacer...
Filing Date # Docket Text
08/10/2011 8405 Notice of Agenda of Matters Scheduled for Hearing Filed by Washington Mutual, Inc.. Hearing scheduled for
10/12/2011 at 10:30 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #4, Wilmington, Delaware. (McRoberts, Travis) (Entered: 08/10/2011)
08/10/2011 8410 Memorandum/Brief / Post-Confirmation Hearing Submission of the Washington Mutual Inc. Noteholders Group In Support of Confirmation of the Modified Sixth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code (related document(s) 7919 , 8107 , 8185 ) Filed by Washington Mutual, Inc. Noteholders Group (Attachments: # 1 Exhibit A# 2 Certificate of Service) (Bird, L. John) (Entered: 08/10/2011)
08/10/2011 8411 Response ANICO Plaintiffs' Post-Hearing Written Submission with Respect to Confirmation of the Modified Sixth Amended Joint Plan of Affiliated Debtors Filed by American National Insurance Company, American National Property and Casualty Company, Farm Family Casualty Insurance Company, Farm Family Life Insurance Company, National Western Life Insurance Co (related document(s) 8344 , 7040 ). (Attachments: # 1 Certificate of Service) (Migliore, Michael) (Entered: 08/10/2011)
08/10/2011 8412 Memorandum of Law -- Post-Confirmation Hearing Written Submission of Law Debenture Trust Company of New York in Support of the Modified Sixth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the Bankruptcy Code (related document(s) 6696 , 6964 , 7038 , 7040 , 8344 ) Filed by Law Debenture Trust Company of New York. (Attachments: # 1 Exhibit A# 2 Exhibit B - Part I# 3 Exhibit B - Part II# 4 Affidavit of Service) (Hamilton, Courtney) (Entered:
08/10/2011)
08/10/2011 8413 Motion for Leave Motion of the Official Committee of Unsecured Creditors to Exceed Page Limitations with respect to Post-Confirmation Hearing Briefs in Support of Confirmation of the Debtors' Modified Sixth Amended Plan of Reorganization Filed by Official Committee of Unsecured Creditors. (Attachments: # 1 Proposed Form of Order) (Carignan, James) (Entered: 08/10/2011)
08/10/2011 8414 Brief / Post-Hearing Brief in Support of Plan Confirmation (related document(s) 7040 ) Filed by Wells Fargo Bank, N.A. in its Capacity as Indenture and Guarantee Trustee. (Attachments: # 1 Certificate of Service) (Loizides, Christopher) (Entered: 08/10/2011)
08/10/2011 8415 Brief Post-Confirmation Hearing Brief of the Official Committee of Unsecured Creditors in Support of Confirmation (Issues Other Than Alleged Insider Trading) Filed by Official Committee of Unsecured Creditors. (Carignan, James) (Entered: 08/10/2011)
08/10/2011 8416 Sur-Reply to Limited Objection to Confirmation of the Modified Sixth Amended Joint Plan of Affiliated Debtors (related document(s) 7040 , 7475 , 7747 ) Filed by Normandy Hill Capital L.P. (Attachments: # 1 Exhibit A# 2 Certificate of Service and Service List) (Horan, Thomas) (Entered: 08/10/2011)
08/10/2011 8417 Memorandum of Law/Brief By Class Representatives of Dime Litigation Tracking Warrant Holders in Opposition to Confirmation of The Debtors Modified Sixth Amended Joint Plan (related document(s) 6696 , 6697 , 6964 , 7038 ) Filed by Nantahala Capital Partners, LP, Blackwell Capital Partners LLC, Axicon Partners LLC, Brennus Fund Limited, Costa Brava Partnership III, LLP, Sonterra Capital Master Fund Ltd. (related document(s) 7038 , 6697 , 6696 , 6964 ). (Attachments: # 1 Certificate of Service) (Klein, Julia) (Entered: 08/10/2011)
08/10/2011 8418 Motion to File Under SealMotion of the Official Committee of Unsecured Creditors to File Under Seal the Unredacted Versions of the: (i) Post-Confirmation Hearing Brief of the Official Committee of Unsecured Creditors in Support of Confirmation of the Modified Sixth Amended Plan of Reorganization with respect to Insider Trading and Equitable Conduct Issues; and the (ii) Objection of the Official Committee of Unsecured Creditors to Motion for an Order Authorizing the Official Committee of Equity Security Holders to Commence and Prosecute Certain Claims of Debtors' Estates Filed by Official Committee of Unsecured Creditors. (Carignan, James) (Entered: 08/10/2011)
08/10/2011 8419 Brief Post-Confirmation Hearing Brief Of The Official Committee Of Unsecured Creditors In Support Of Confirmation Of The Modified Sixth Amended Plan Of Reorganization With Respect To Insider Trading And Equitable Conduct Issues Filed by Official Committee of Unsecured Creditors. (Carignan, James) (Entered: 08/10/2011)
08/10/2011 8420 Objection Objection of the Official Committee of Unsecured Creditors to Motion for an Order Authorizing the Official Committee of Equity Security Holders to Commence and Prosecute Certain Claims of Debtors' Estates (related document(s) 8179 ) Filed by Official Committee of Unsecured Creditors (Carignan, James) (Entered: 08/10/2011)
08/10/2011 8421 Letter from Michael S. Etkin, Esq to Honorable Mary F. Walrath regarding Securities Plaintiffs' Post-Hearing Submission (related document(s) 6696 , 7478 , 8122 ) Filed by Doral Bank Puerto Rico, Policemen's Annuity and Benefit Fund of the City of Chicago. (Attachments: # 1 Service List) (Holmes, David) (Entered: 08/10/2011)
08/10/2011 8422 Brief /Post-Hearing Submission of JPMorgan Chase Bank, N.A. in Support of Confirmation of the Debtors' Modified Sixth Amended Joint Plan Filed by JPMorgan Chase Bank, National Association. (Attachments: # 1 Exhibit A# 2 Affidavit of Service) (Landis, Adam) (Entered: 08/10/2011)
08/10/2011 8423 Modified Chapter 11 Plan Third Modification of Modified Sixth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code Filed by Washington Mutual, Inc. (McRoberts, Travis) (Entered: 08/10/2011)
08/10/2011 8424 Objection to Motion for an Order Authorizing the Official Committee of Equity Security Holders to Commence and Prosecute Certain Claims of Debtors' Estates (related document(s) 8179 ) Filed by Washington Mutual, Inc. (McRoberts, Travis) (Entered: 08/10/2011)
08/10/2011 8425 Notice of Service (related document(s) 8413 , 8415 , 8418 , 8419 , 8420 ) Filed by Official Committee of Unsecured Creditors. (Carignan, James) (Entered: 08/10/2011)
08/10/2011 8426 Limited Objection of the Official Committee of Equity Security Holders to the Debtors Motion Pursuant to Section 554(A) of the Bankruptcy Code for Authorization to Abandon WMI's Equity Interests in Washington Mutual Bank. (related document(s) 5885 ) Filed by Official Committee Of Equity Security Holders (Attachments: # 1 Certificate of Service) (Taylor, Gregory) (Entered: 08/10/2011)
08/10/2011 8427 Brief // Joint Post Trial Brief of Appaloosa Management L.P., Centerbridge Partners, L.P. and Owl Creek Asset Management, L.P. in Connection with Confirmation of the Modified Sixth Amended Plan Filed by Appaloosa Management, L.P., Centerbridge Partners, L.P., Owl Creek Asset Management LP. (Guilfoyle, Victoria) (Entered: 08/10/2011)
08/10/2011 8428 Brief // Appaloosa Management L.P.S Post-Hearing Brief in Connection with Confirmation of the Modified Sixth Amended Joint Plan of Reorganization Filed by Appaloosa Management, L.P.. (Guilfoyle, Victoria) (Entered: 08/10/2011)
08/10/2011 8429 Brief // Owl Creek Asset Management, L.P.S Post-Confirmation Hearing Memorandum Supporting Confirmation of the Modified Sixth Amended Plan of Reorganization Filed by Owl Creek Asset Management LP. (Guilfoyle, Victoria) (Entered: 08/10/2011)
08/10/2011 8430 Brief // Post-Confirmation Hearing Brief of Centerbridge Partners, L.P. in Support of the Modified Sixth Amended Plan of Reorganization Filed by Centerbridge Partners, L.P.. (Guilfoyle, Victoria) (Entered: 08/10/2011)
08/10/2011 8431 Reply of The WMB Noteholders to the Responses of the Debtors, Official Committee of Unsecured Creditors and the PIERS Trustee to The WMB Noteholders' Objection to the Debtors' Modified Sixth Amended Joint Reorganization Plan (related document(s) 6696 , 7483 , 8122 , 8128 , 8140 ) Filed by WMB Noteholders (Attachments: # 1 Certificate of Service) (Cohen, Howard) (Entered: 08/10/2011)
08/10/2011 8432 Objection // Objection of Certain Funds Managed by Centerbridge Partners, L.P. to the Motion for an Order Authorizing the Official Committee of Equity Security Holders to Commence and Prosecute Certain Claims of Debtors Estates (related document(s) 8179 ) Filed by Centerbridge Partners, L.P. (Guilfoyle, Victoria) (Entered: 08/10/2011)
08/10/2011 8433 Brief // Post-Hearing Memorandum of Aurelius Capital Management, LP Filed by Aurelius Capital Management, LP. (Guilfoyle, Victoria) (Entered: 08/10/2011)
08/10/2011 8434 Objection // Objection of Aurelius Capital Management, LP to Motion for an Order Authorizing the Official Committee of Equity Security Holders to Commence and Prosecute Certain Claims of Debtors Estates (related document(s) 8179 ) Filed by Aurelius Capital Management, LP (Guilfoyle, Victoria) (Entered: 08/10/2011)
If memory serves me correct/ didnt the doj help by supporting the need for the ec to the court?
Can't get it on my end either.
Everything listed on Pacer as of 1 minute ago...
07/27/2011 8316 Order Granting Application to Employ/Retain Klee, Tuchin, Bogdanoff & Stern LLP as Special Litigation Counsel to Washington Mutual, Inc. (Related Doc # 8111 ) Order Signed on 7/26/2011. (SLF) (Entered: 07/27/2011)
07/27/2011 8317 Order Approving Debtors' Second Supplemental Application Pursuant to Sections 327(e) and 328(a) of the Bankruptcy Code and Rule 2014 of the Federal Rules of Bankruptcy Procedure for Authorization to Enlarge the Retention of Perkins Coie LLP as Special Counsel to the Debtors (Related Doc # 8086 ) Order Signed on 7/26/2011. (SLF) (Entered: 07/27/2011)
07/27/2011 8318 Order Granting Debtors' Sixty-Seventh Omnibus (Non-Substantive) Objection to Claims. (related document(s) 8015 ) Order Signed on 7/26/2011. (Attachments: # 1 Exhibit) (SLF) (Entered: 07/27/2011)
07/27/2011 8322 Monthly Application for Compensation of Susman Godfrey, L.L.P. (Fifteenth) for the period June 1, 2011 to June 30, 2011 Filed by Official Committee of Equity Holders. Objections due by 8/17/2011. (Attachments: # 1 Notice # 2 Exhibit A# 3 Certificate of Service) (Taylor, Gregory) (Entered: 07/27/2011)
07/27/2011 8323 Monthly Application for Compensation of Ashby & Geddes, P.A. (Sixteenth) for the period June 1, 2011 to June 30, 2011 Filed by Official Committee of Equity Holders. Objections due by 8/17/2011. (Attachments: # 1 Notice # 2 Exhibit A# 3 Certificate of Service) (Taylor, Gregory) (Entered: 07/27/2011)
07/27/2011 8324 Affidavit/Declaration of Service of Carlos I. Lara (related document(s) 8307 ) Filed by Kurtzman Carson Consultants LLC. (Scott, Jason) (Entered: 07/27/2011)
07/27/2011 8325 Affidavit/Declaration of Service of Carlos I. Lara (related document(s) 8310 , 8314 ) Filed by Kurtzman Carson Consultants LLC. (Scott, Jason) (Entered: 07/27/2011)
Boy, look at the P's today! Maybe a sign of some good news coming our way! Rock and roll...
Frankfurt closed before our late afternoon recovery. Nothing more nothing less. They trail us. They don't set the pace for us.
Diamond's number wasn't 24. Never was try 12-13. But who knows at this point.
Because BR told the court that there wouldn't be. He was trying to put that in stone to tell the Hedgies to forget about any real money coming back to the estate. It was him telling the HF's that you can get paid but don't ask for anymore. Remember he is in bed with JPM. No conflict my arse...
IMO
There needs to be a law passed stating that once a company petitions for BK protection, that no institutions may buy or sell any equity or debt instruments. It's too obvious that the processes are allowed to be manipulated by a back door that creates way too many gray areas, allowing institutions to get away with insider trading and hijacking of the BK proceedings.
Put these "distressed" asset investors out of business.
Problem solved.
That is correct. Just ask the IRS. Unless you're Tim Geithner.
That was my first thought. Hope our live stream doesn't help them collude more. Probably not. But who knows.
Etard pro.
This is a summary of the TPS objection as I see it...
I want to hear this argued in court. It's gonna be dyn-o-mite!
Yes I'm old enough to remember that. Just barely though. Ha.