Mr Cooper Group Inc fka COOP

[fsshon]

Here you go WALT! If this does not satisfy ya, then nothing will!

Judge Walrath has ruled that JPM cannot hide behind the FIRREA statute in this case. 3rd circuit is clear and concise on this.( omnibus hearing) FDIC never truly held the bank long enough for "bids" to be received and accounted. FDIC did not follow the corporate guidelines for getting "fair market value" for the assets of the banks and failed at their mission. (WMI Brief) THJMW has ruled that she has the right to make the decisions for the assets of the estate. June omnibus hearing.

JPM is being sued in BK court by WMI for breach of confidentiality, fraudulent conveyance, false transfer, criminal wrongdoings, money, clarification of assets (read the Sticky) etc.. and THJMW said in the last court hearing (during divesture of appeal, which she called frivolous] that WMI was alleging that JPM caused and participated in these wrongdoings. JPM wants Judge Sleet to save their butts from Discovery and subsequent trial in regards to their claims of national economic security and saving all of us from doom and gloom!
JPM wants all proceedings combined and adjudicated in DC, where they can hide behind the Federal Government and delay further, THJMW has ruled against them in this. JPM attorney's tried to argue in front of her that Hoyt in Texas realized that the Texas case needs to be combined with the other ones in the FDIC lawsuit. THJMW said in the Sept hearing that it was an entirely different legal argument and could not apply in her courtroom, unless the appellate court decides otherwise, the case continues forward. THJMW is doing what she can within the bounds of the law, to adjudicate (discover) why this company got into this situation and find out what caused it, she mentioned in the Sept hearing that WMI alleges an entirely different argument than JPM.

IMO.. WMI is using the BK court to their "full advantage!" The Parent filed the counter-claims, JPM filed the adversary proceeding to "protect their supposedly FDIC purchased assets, from the BK court" and in return ended up with a big fight. WMI's attorneys are some of the best in the country and know what they are doing, S&C's pales in comparison to firms such as Weil and Quinn according to law firm rankings for 2008.

THJMW pointed out in Sept omnibus that the fact that JPM has accepted rulings and proceedings in the last 4 months [since arguments and briefs have been flying around] for them to come to the her and ask for jurisdictional change is frivolous.
THJMW's words are "music to our ears!"

IMHO...It would be good for all of you to read the briefs and listen to the court hearings from DANBB (Thanks DAN) and decide for yourself where you think WMI stands.
All of this is my opinion, some backed up by court proceedings, recordings and briefs. Please do not make any investment decision based upon what I say!
~Fish~