I posted this on the WMIH site as there has been talk about this Contempt of court statement:
As for Judge Walrath letting JPM drafted her strong June 2nd. order stating That Plaintiff’s ( Which is counsel for the LTW holders) filing of the Complaint was in contempt of the Confirmation Order.
Judge Walrath is the one in Contempt of Higher Court Judge Block’s Opinion
This order will backfire at her!
Judge Walrath did say at the June 2 hearing that the Anchor Litigation was an asset of WMI in bankruptcy this is a contempt of Judge Block's Opinion - which ruled that ownership of the Anchor Litigation transferred to JPMC by way of the PAA on Sept 25, 2008. The US Court of Appeals had exclusive rights to determine when and what party owned the Anchor Litigation.
- Judge Block stated, “JPMC did not acquire the Anchor litigation piecemeal, at a specific price; rather, it acquired Anchor’s assets (including the Anchor litigation) as part of a package that was sold by the FDIC Receiver, under the terms of the purchase and assumption agreement. See Anchor V, 121 Fed. Cl. at 314-18.”
It was Brian Rosen who changed the wording in the GSA to make it sound like WMI owned that asset and gifted it to JPM free and clear. Brian Rosen breached his fiduciary responsibilities to the debtors WMI.
Can anyone tell me why WMI would just give JPMC a 538 million asset free and clear – and the judge signing off on it? Is this even legal in bankruptcy – a judge should also not be gifting assets away from the estate free and clear with no benefit to the estate.
