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Friday, January 04, 2019 1:29:20 PM
T (The)
H (Honorable
J (Judge)
M (Mary(
W ( Walrath)
Because without her intervention into the theft and wiping out of all equity/preferreds that was Plan 6, there would not have been a Plan 7.
Then all the holders of those securities would have is tax losses, because they would have been extinguished.
So get it right for once, she went up against powerful hedgies, banks, creditors to make them settle with the EC (Equity Committee) this allowed for the saving of the holders investments and the subsequent roll-over into WMIH which is now COOP.
Fed courts are inherently slow and this 10 year-old case proves it beyond any reasonable doubt, but one thing is for sure.
THJMW's actions saved Equity/Preferreds.
There will be distributions and roll-over's into trust assets in the future, these things take time. Remember the FDIC considered all of us "Vultures" and worked (probably illegally) with many to kill your investment and not give you one red dime! However it didn't work the CC got greedy and got caught.
Thank The Good Lord for Nate and his having the cohones to stand up and tell THJMW what he discovered and Thank THJMW for listening to him for 5 minutes. Unheard of in a BK case, but she smelled another K-Mart and immediately basically stated it from the bench. That was a great day for Equity/Preferred investors in terms of "we are getting something."
THJMW single-handedly bucked the business as usual sign-off of BK Plans as set forth by CC's and their lawyers. So I take issue with you calling THJMW a ratt!
Good Day Sir
~Don~
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