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Post# of 729256
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Bizreader

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Bizreader

Re: climberprof post# 64646

Monday, 04/20/2009 1:07:18 AM

Monday, April 20, 2009 1:07:18 AM

Post# of 729256
The lawsuit by WMI against the FDIC does not prevent or assure reorganization.

WMI is in BK. They will submit a plan and the court will look at it and other factors presented by the creditors and then rule. The BK court is supposed to specify the path to resolution for both the debtor and creditors according to BK law in the law book.

The complexity and considerations in this BK case include the lawsuit for damages filed by WMI against the FDIC because there is income potential there and there are costs incurred in legal fees. The outcome of that case has a bearing on the BK case.

This is where I stop my analysis. I'm no lawyer.


Your line has to be in the water to catch a big one.

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