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...the man: my concern is really the s/p - assuming that it reflects the probability of winning the suit and getting a distribution of the Countrywide/BAC payout............I have a huge stake in this situation................
...I also know what the OTS did and did not do before it seized the bank........................reprehensible is the only way to describe the action.........................criminal might also be appropriate..........we shall see........................I'll sit tight because I'll never sell my stock regardless.................onward and thanks for the encouragement......
...market cap = $4MM...s/p says "dismissal"...
...UWBK will probably file motion for summary judgement late Friday, 4-20-2012...............OCC just might not request a denial and take a chance on the judge dismissing the case with prejudice...
...otherwise, the phony legal filings will continue through June..............all which mean nothing............the Judge's ruling is all that matters and she might take 6 months and then rule in favor of the OTS/OCC...............I am long and strong but I have no confidence in the court whatsoever...........and we are going to get the BAC/Countrywide money of about $16-million any day now and the market justs yawns at this payout...........
...and Guy says we go all the way no matter.................why not.....????...............tell us why, John Bowman..........all of this is IMO.........................
...Guy said no settlement...he wants the banks back...period...
...this is a good sign since it shows that Guy believes strongly that the bank was illegally seized......
...our concern is that the OCC will play a long drawn out legal game even through an appeals process and we could lose the case on some obscure legal technicality......in two years......
...but I am in this forever.......so let's sit back and play out the legal game...........America is a doomed corrupt country if we don't get our bank back...............the end result of the UWBK suit will be either a couple of pennies per share or $8++ dollars p/s and a return of our banks.........................onward.................
...motion for summary judgment due April 20, 2012...
...this is serious biz or the suit would have long been dismissed...
...granted, the OCC's bumbling buffoon lawyers will file the standard challenge...........................but the OCC is in very dangerous legal territory....................now and after 4-20-12.......
...we want Guy to give a signal to the OCC that he will at least review a settlement................................'cause he's saying NO SETTLEMENT WHATSOEVER...................so are we.........$1-BILLION JUDGEMENT could then follow.........all IMO.......
...Guy A. Gibson hasn't wavered for one second...
...and he has more at stake than any of us.......and Mr. Gibson knows exactly why the OTS did what it did...............
...we have full confidence in Mr. Gibson making the right decision for the benefit of UWBKQ shareholders.......
...we understand that Mr. Gibson indicated he will take the legal case to the very end and WILL NOT AGREE to any settlement whatsoever..................onward...................we wanted to ask him to consider an immediate settlement north of $175-million with or without a new charter................please consider, sir......
....UWBK shareholders hold "all the cards"....
...and this is ironic because the shareholders do not exist except as a trading vehicle with one asset: a claim against the OTS/OCC......the holding co. is in BK and basically holds few assets....and has some large debts.............
...conceivably, the OCC could buy control of UWBK stock for about $15-million (15 millions shares and the price would rise to $1 p/s as it bought stock)..........and then the OCC settles for $150-million and would itself hold about $60-million in stock because the s/p would rise to about $4 p/s...........how weird is that.........?????....OCC's net payout would be $105-million or 150 minus 60 plus 15..............
...the legal beagle in Denver who gave me an opinion said a favorable judgement for UWBK against the OCC is about a 50/50 chance and a settlement is better than 50/50....????....question is how much and how paid....................unofficial estimate is equity at seizure ($140-million) + compensatory damages estimate although not referred to as that in official resolution but equal to about $25-to-$35-million.....................all of this will go to shareholders with the holding company and related claims in BK being pushed back to the holding company...........
...CONCLUSION, IMO.............some nasty legal wrangling leading to a $175-million settlement in October................an investor associate of mine in Boulder said Guy will never settle for any amount and wants a court decision regardless..................apparently there is some huge anger in Guy - - he knows more than us about the illegal seizure...............again, all IMO...................the patient shareholders should make out very, very well............
...Settlement won't include UWBK particulars...
...we do not believe the holding company debt will be an issue nor will BK NOL issues be referenced.........UWBK shareholders can address these matters - per a settlement - with CASH......CASH in the BK court will be easily allocated.......we want a charter but we believe this might not be included.................because CASH will cover all of UWBK's side issues.............a tax-free distribution to UWBK shareholders in the amount of $175-MILLION...........................all IMO............the OCC can get out of this mess NOW and we both move on.................BELIEVE..........................
...WHY DID YOU SEIZE OUR BANK, MR. BOWMAN...????
...A very simple question and an answer has not been provided.................DESPICABLE............many livelihoods and savings have been lost as a result of UWBK's seizure by the OTS..........will the US legal system correct this INJUSTICE....?????
...pathetic legal maneuvering only makes the situation worse.....
...My Summary Judgement 4-21-2012 date made in jest...
....the Judge outlined the court's parameters for final motions and I knew this.......and the Judge is firm with the rules..............
....I still believe the SEIZURE was an outrageous ABUSE of police power.................and this was only after I observed the OTS responding to the suit.................prior to the OTS response, I thought the bank was long gone and the UWBK suit was frivolous - - I and I owned the stock long before the illegal seizure..........
...and although I am long and strong with significant holdings...................I'm very down on the entire gov't....................okay, so see everyone in Sept., or Oct., or Dec..............................
...Judge could uphold SEIZURE...
...without comment......4-21-2012.........GAME OVER....
...what does this say about banking regulators...????
...if this happens, the only true justice would be IRAN dropping the big one on NYC and then another one on DC........how could the jackboot thugs ILLEGALLY SEIZE our nice little bank............and not produce one shred of evidence supporting this VILE ACT.....?????
...Guy wants to go all the way to the end......whatever that entails..............................
...Gov't grunts can't testify...
....per the Judge...which now makes the summary judgement almost automatic.................America is an evil cesspool and our bank was seized by fascist pigs....................
....we may get a favorable judgement or we believe the judge will ask the parties to resolve the dispute themselves...............if they don't, then the judge should award the deprived shareholders the equity value at the illegal seizure PLUS compensatory damages which should = $200+ million........TOTAL = $340-million, imo.....
What if Judge agrees seizure was WRONG...????..
We have not seen any defense nor an explanation of why the OTS took control of our bank............NOTHING WHATSOEVER...........because there is no legal defense.....................
As shareholders, we have been deprived of ownership of our bank by the police power of the OTS.........................
HOW CAN THE JUDGE UPHOLD THIS OUTRAGEOUS ACT....????.....the bogus FDIC request for protection of some "privileged" BS - that the judge granted was a ploy that backfired................if the FDIC krud justified the SEIZURE, the FDIC/OCC attorneys would have handed it over - GIFT-WRAPPED - the FDIC is protecting NOTHING THAT IS RELEVANT.....................................we're getting our bank back or the equivalent in the form of $500-million and we control every penny via the BK........................all IMO.................
...only 5-million+ shares moves the needle...
WHY DID YOU SEIZE THE BANK, JOHN BOWMAN....????
Again, day-to-day speculative trading under 5-million shares MEANS NOTHING................
....gossip around Boulder is that $100-million cash is on the table............just discussion but we believe strongly that the OCC will handle this with class and not put up a dirty legal fight.....all IMO......but our legal adviser has said that the Judge could initiate a resolution before any of these recent deadlines..............................
....today's instability in the s/p simply makes the legal case STRONGER.............
Tip: load up IRA with UWBKQ stock
Protect your UWBKQ holdings from the tax monster.........the ultimate distribution could be tax-free, but why chance it?.....the ideal settlement/judgement, IMO, will be a cash award along with pre-approval of a new federal bank charter...............
The OCC is very top tier and once it realizes the seizure was not justified for whatever reason.....................REPARATIONS......
The sooner this case is settled, the fewer dollars that will be paid out, IMO....................the beauty of this situation is that a favorable closure could come at any moment..............
IF COURT UPHOLDS RECEIVERSHIP
For whatever reason, the s/p drops to 5 cents for the appeals process which could take another year.
We believe that the acceleration of the CRP by the OTS was part of an illegal conspiracy involving bribes or kickbacks or something or why did the OTS seize it and not error on the side of more time??????............because UWBK had clearly secured a capital source..........the OTS grabbed the bank for First Citizens and didn't expect to get sued....................all of this is IMO, of course...........and the OTS knew it was being disbanded and merged into the sophisticated OCC......
The fact that there is limited support documentation related to the seizure or a recent bank exam......NOTHING........
We hope and pray that the court sees the injustice and sticks it to the OCC that has a trillion dollars via the U.S. Treasury to settle this matter....................Guy said, we're told, that he will take the case all the way to the end in order to get the banks back - NO SETTLEMENT AND NO BACKING DOWN............cool....
Guy wants the banks back
So does all of us but I still want Guy to be open-minded about a settlement particularly if the deal includes a charter........then we will be back in business............
If Guy holds out so stubbornly until the absolute end of the process, something weird could happen in the kangaroo court.........I'm not saying we should sell out cheap.........just get back in biz.......................even a quickie would result in a share price of $4+++........................we'll see but we believe this case will be settled very soon...................the lack of documentation support for the seizure leaves the OCC with no choice..............throw out $150-million and we move on........
...Guy should consider SETTLEMENT...
I'm simply suggesting that Guy has an open mind to the situation.
The OCC is sophisticated and probably realizes the OTS committed a horrific act that cannot and HAS NOT been defended......the Judge could very easily reverse the receivership and award a BILLION DOLLAR JUDGEMENT in favor of the UWBK shareholders............
Dragging out the case with legal tricks WILL NEVER substitute for the OTS' conspiratorial (IMO) BLUNDER................the OTS should have a mountain of support documents for seizing a bank and the OTS has provided nothing but dog-eared copies of an outdated FDIC guidebook on calculating bank capital.........OUTRAGEOUS......
AT LEAST COUNTER TO ANY REASONABLE OFFER, GUY.........we get the capital to build a new banking empire.....................and we believe $175-million will get the job done................TODAY....................
FDIC gave waiver and assignment to UWBK on the United Western Bank claim against Countrywide.........this is on Pacer..........also the payout is not proportional but the sub-prime loans are segregated and United Western had high percentage of sub-primes estimated to be 20% of the $108-million...........all IMO..........
Mr. Mesa: Are we posting......?????
I applaud your enthusiasm and commitment to the UWBK cause.
My investment advisers in Denver and Boulder (who claim they own some UWBK) claim Guy will not settle for any amount and believes that the court will return the banks to UWBK shareholders along with a huge financial award................this sounds good to me.
In the meantime, as I have stated here and on Yahoo! that I believe daily trades, charts, shorts, pumpers, speculations, SCREAMERS and other charlatans mean NOTHING.........................the $22-million from the Countrywide/BAC settlement matters......but nothing else, IMO..........
So lock up as many shares as possible and sit back.................the longer chase will = a better catch.........
Sorry...I'll never post again
This situation involves potentially a $500-million+ settlement or judgement. A $2-billion bank was seized without justification.
I have more experience in bank exams, capital requirements, C & D limits, workouts and seizures than all of you thin-skinned weasels combined..........and I also own more stock than most of you pompous nobodies combined.................so play on your little cotton-ball message board without me...................
..."imo" is universally understood to mean in my opinion with no basis of fact............I believe that outlining a real settlement is valuable to anyone interested in UWBK and the court case.....understanding that a settlement is a hypothetical possibility.............LIGHTEN UP, SIR.......................
....PROPOSED SETTLEMENT......imo
....the OCC provides $75-million in cash and $75-million in trust preferred securities that burn off 20% per year, non-cumulative along with a pre-approved national bank charter......all claims, present and future are released pursuant to a confidentiality agreement....................we're back in biz with a clean $400-million bank potentially and can open some branches in Denver and Boulder..............s/p spikes initially above $3.00...............................BELIEVE............................justice will prevail.....................
....APPLY LOGIC MATRIX TO UWBK.....
....aside from all the HYPE and FEAR, let's look at the REALITY of this situation........the bank was seized by the amateurish OTS without strong and convincing bank exam analyses..........
....shareholders sued and the claims have progressed deep into the legal process......THIS ISN'T SOME LONG-SHOT LOTTERY TICKET.....
......the OTS has put up absolutely no defense and did no standard bank exam before accelerating the time-frame for the CRP....THIS IS THE SMOKING GUN.........any payola will also be revealed..................
........I still say: BIG-TIME SETTLEMENT and it could come at any minute...........the BK only strengthened the shareholder position.........THIS IS FUN.....ENJOY.......
........GUARANTEED SHOCKER PENDING........
could be dismissal of suit, settlement, default judgement, granting of summary judgement request or ruling in favor of OCC..........
what does surprise me is that the stock price is not trading at 50 cents per share or higher............the probability of a favorable judgement is very, very high at this point given the judge's demeanor............and the Countrywide money is en route........
.......the OTS/FDIC should have sent the court a wheelbarrow full of bank examiner docs immediately after the first doc request was filed with the court............THEY AIN'T GOT NONE...........last summer when I realized this...............I loaded up with stock and I have a ton.................................this case, imo is a winner............................
WHAT BECOMES OF COUNTRYWIDE SETTLEMENT......
The BAC settlement money is basically in the mail. UWBK's subsidiary sold $108-million worth of mortgages to Countrywide and is expected to receive somewhere from $8.5-million to $16-million.......
As Mr. Mesa will verify, I am the former mayor of the Yahoo! UWBK message board - which is temporarily suspended. I hold a sizable block of UWBK and owned the stock long before the seizure.
My legal advisor (in Boulder, CO who is familiar with UWBK) told me yesterday that this BK is very good and the common stock shareholders will experience the REVERSE of what normally happens to publicly-traded common stock in a BK (wipeout). This is because, he says, the claimants levels are inverted with the shareholders having the largest potential claim - the suit with the OTS/OCC.
We believe strongly that the OCC will settle this claim because of the liability the OCC inherited with the OTS. The case could drag on for 3 years or be settled today.
I usually agree 100% with Mr. Missionary Mesa. I have vast experience in bank capital management, bank exams, banks under C & D's and bank seizures. The OTS made a horrific mistake, IMO and did not expect to be challenged. I will repeat what I said many times on the Yahoo! MB: WE WILL GET OUR BANK BACK - or better!