Hi cubs, It's been a while.
There is great trepidation that JPM will squash us like they did in DE. As far as I can determine, Judge Block was very clear that FDIC passed rights to LTW directly to JPM prior to BK. That was the point of the trial. JPM was suing FDIC on behalf of the LTWs, in return for 15% override on the Award. JPM is now duty bound to comply with the terms of the original Anchor litigation. Without the LTWs JPM had no standing at Court. JPM represented us for a share of the AWARD. There could be no doubt about this.
I can't be more clear when I state that DIME BANK,later, WASHINGTON MUTUAL BANK and, still later, JPMORGAN CHASE BANK were successive litigant on behalf of the LTWs. Once Dime Bank distributed the LTWs to its shareholders, the net proceeds have to go to those shareholders. The LTWs were NOT part of the BK of WMI. The LTWs litigation passed, unscathed, to JPMC prior to BK Filing of WMI.
Will JPM try to retain the entire proceeds? SURE!
Is it theirs to keep? NO!
Will there be litigation on this subject? PROBABLY!
Maybe litigation will open, once and for all, the case of blatant fraud against JPM, its Attorneys, and the Hedge Funds that were given heads up on Walrath's upcoming decision so that they could scam the rest of us. Perhaps America will finally realize that there is a vile criminal element running this country. Just check you newspapers for a a daily dose of guilty plea by our friends at JPM. If we litigate, and win, there is a possibility of triple damages for LTW holders.
Let's wait and see.
Hope I answered you question.
