He's referencing FACTS; and the Court agreed...
...and apparently, confirmed the order sans such irrelevant opposition.
...it wasn't about laches' doctrine.
...it was about MERITS.
...there is NOTHING COMING BELOW CLASS 18.
...i.e., it makes no difference (to a reasonably prudent person)
..."equity interests" were specific in the UW Stipulation, as well as 'claims.
...further, the 'parties had the court approval to agree to modifications without the Courts approval.
...again, the Court approved the stipulation (which include Class 12, 18 and 29 (later to be 19) and the ability of the 'parties to agree to modifications WITHOUT THE COURTS APPROVAL.
...it should be read; not rocket science.
...the UW were 'already in the 'equity class BEFORE the move from Class 18 (claim; that was to be litigated") to equity.
...so, to the Claim in 18 would have had to have been litigated.
...they choose not to.
...actions are more indicative than words; they could have determined that the legal fees weren't worth the % likelihood of recovery.
...I.E., IT'S MOOT; THERE ISN'T ANY MORE MONEY THERE """"OR COMING."""
...it is not defending the Court, Rosen, WMILT etc., it is merely stating FACTS.
...the BK is closing; despite the hundreds of theories of billions, tens of billions, and hundreds of billions 'coming back.
...all such theories failed.
...now, theories are 'outside of the bankruptcy.
...more faulty and more weak that the 'inside of the bankruptcy theories.
...there were no MBS securitzations "in process" to invoke safe harbor at seizure by OTS.
...if (if if if) there were, they would invoked TO PROTECT THE INVESTORS THAT COMMITTED TO BUY THE MBS.
...zero to do with WMI.
...the December 2011 disclosed Mediated Settlement was 100% ACCURATE - here's what we get (the reorganized debtor), some cash (AAOC settlement and NO they were not caught and sent to jail LOL) and a LOC; plus possible 3rd party claims (resulted in zero and sub-committee dissolved).
...the demand for new litigation?
..."open - your Honor, we got exactly what was disclosed to us" and now we do not believe that is F&R.
...good luck.
