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Wednesday, August 05, 2009 12:45:23 PM
I think your reasoning is dead-on accurate. However, I don't think negotiations are stalling -- if anything, I think they're being expedited and subject to strict confidentiality.
For the many reasons you stated (and more, i.e., criminal liability, etc.), there is no way JPM would proceed with discovery. Based on what we know, it's probably safe to say that the lack of production on Saturday, August 1st confirmed that sentiment. The lack of filings on PACER, however, suggest (as BOPFAN predicted) that WMI may have granted a forbearance on the production subject to agreement over the predominant terms of the settlement contract. If this wasn't the case, we'd be seeing Motions by JPM for an Extension of Time to Respond to WMI's Rule 2004 Subpoena, Motions by WMI for Rule 11 Discovery Sanctions, or Stipulations Extending the Time for JPM to Produce Documents, filed on PACER -- but we're not. Clearly, something is going on behind very tightly closed doors as we speak.
We're very close. JPM has exhausted the majority of it's delay tactics and now it's just a matter of getting the settlement agreement in order and into the public eye.
MAKINGMOVES
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