Anyone familiar with legal processes and the way ahead for the Collins case please weigh in on this.
There are several people on this board and in other forums incorrectly arguing that FHFA & treasury will be violating a court opinion (the Collins ruling) if they go forward with the NWS. Here's my argument showing that the treasury and FHFA are not violating any court order and actions I think the Collins plaintiffs should do to stop the NWS:
While the 5th Circuit En Banc panel found "The Shareholders plausibly allege that the Third Amendment exceeded FHFA’s conservator powers...," the court remanded the case back to the original three-judge panel for further consideration. The en banc court did not issue an injunction barring FHFA & treasury from continuing the sweep, they just provided guidance to the three-judge panel on how they should rule. The injunction against the NWS should be delivered in that ruling at some time in the future.
I believe that the Collins plaintiffs should file for an emergency injunction to stop the sweep scheduled for 30 Sep based on this ruling and the likely hood that the sweep will be ruled as illegal and stopped in the remand decision. Wouldn't this provide more ammunition to the plaintiffs in settlement talks and as well the other cases floating around out there?
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