Mr Cooper Group Inc (COOP)

[jackson227]

WHEREFORE, Plaintiffs respectfully request the Court to grant the following
relief:
1. An order declaring Plaintiffs’ Claims to be valid and proven against the
Receivership;
2. An order directing FDIC-Receiver to pay the Claims from the assets of the
Receivership in accordance with 12 U.S.C. § 1821(d)(11);
3. An order directing FDIC-Receiver to provide Plaintiffs with an accounting
of the disposition of the assets of the Receivership if any Claim is not
satisfied in full;
4. An order directing FDIC-Receiver to provide Plaintiffs with an accounting
of all property transferred from Plaintiffs in connection with the
Receivership;
5. Enter a judgment against FDIC-Corporate and FDIC-Receiver for
damages, in an amount to be determined, equal to the amount of money
Plaintiffs would have received in a straight liquidation of WMB’s assets
and liabilities less any amounts actually received from the Receivership;
6. Enter a judgment against FDIC-Corporate and FDIC-Receiver for
damages, in an amount to be determined, equal to the value of Plaintiffs’
property converted by the FDIC;
7. An order declaring the FDIC’s January 23, 2009 disallowance to be void,
and that the parties should proceed as if such disallowance never occurred;
8. Award Plaintiffs’ costs and attorneys’ fees as may be permitted by law;
and
9. Award Plaintiffs such other relief as may be just.
Compl. 27-28 (underlining added).6 In short, WMI is not seeking any assets from JPMC in this
case. Rather, WMI is pursuing claims for monetary relief from the FDIC, and a ruling in its
favor would therefore not be dispositive on the ownership of any disputed assets as to which
JPMC might assert a claim.
6 Note that the reference to payment from the “the Receivership in accordance with 12 U.S.C.
§ 1821(d)(11)” denotes payment from the Receivership estate after liquidation of the estate’s
assets. Because the FDIC effectively liquidated much of WMB through the P&A Agreement, it
is unclear whether the Receivership estate has any significant assets beyond JPMC’s purchase
price paid in connection with the P&A Agreement.


You gotta love it!

Nothing too new, but still a great read.

http://www.fileden.com/files/2008/10/20/2151829/WMI_Response_to_JPM_Motion_to_Intervene.pdf