Mr Cooper Group Inc (COOP)

[VivaLasVegas]

Pre-Game Highlights on Deposit Ruling... nice job by a Yahoo poster. Cheers.
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http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=tm&bn=86316&tid=152689&mid=152693&tof=2&rt=1&frt=2&off=1


U.S. Bankruptcy Judge Mary Walrath said she may decide on Washington Mutual's request before a June 24 scheduled court hearing, according to The Guardian. The Motion for Summary Judgment looks like a winner for the holding company. The case law cited nips JPM's arguments in the bud. The only way to defeat a motion for summary judgment in most cases is to submit an affidavit which counters what was stated by the affidavits furnished by the holding company in support of the motion for summary judgment. Such counter affidavits are used to show a dispute over a material fact which then precludes a summary judgment from being granted because at that point an evidentiary hearing is needed for the court/jury to decide that particular disputed fact. In this case though, JPM has no witness/affiant to counter what was stated in the affidavits. The affidavits provided by the holding company are by wamu employees who have first hand knowledge about the creation of the demand account and the holding company and Wamu policies with regard thereto. WHo can JPM produce to counter what they swore to? JPM wasn't involved until after these events occurred. Moreover, the judge has a freaking stipulation by JPM that the monies are the holding company's. I have found that no matter how strong your motion is , most judges take things under advisement because it avoids awkwardness with the losing counsel.