JPMC's main argument to Judge Walrath -
1. JPMC requires the assistance of this Court to enforce
the terms of the Confirmation Order—which became final
more than four years ago—to prevent holders of Litigation
Tracking Warrants (“LTWs”) from attempting to impose
liability on JPMC for contractual rights that they had
against Washington Mutual, Inc. (“WMI”) and that were
extinguished in accordance with the terms of the Debtors’
confirmed plan of reorganization that went effective in
March 2012. In violation of the Court’s Confirmation Order,
certain LTW holders have sued JPMC in federal district
court in Ohio seeking to collect from JPMC a portion of
the proceeds of the Anchor Litigation, based on a theory
that their LTWs entitle them to such a recovery.
2. On the contrary, JPMC’s actual interest and Plaintiffs’
purported interest in the Anchor Litigation are both
controlled by the Court’s Confirmation Order, the Plan it
confirmed, and the Global Settlement that the Plan
incorporates by reference. Those documents demonstrate
beyond dispute that the proceeds of the Anchor Litigation
are JPMC’s, free and clear of any claim by Plaintiffs, and
Plaintiffs’ claim, such as it is, only was an equity interest
against WMI.
AI
