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Post# of 730879
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DanBB

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DanBB

Re: None

Tuesday, 03/09/2010 12:31:59 PM

Tuesday, March 09, 2010 12:31:59 PM

Post# of 730879
DC Court Hearing Results

I just got back from the DC court hearing.

I'm not an attorney so this is my interpretation. The judge accepted the motion to dismiss in the first 15 minutes of the hearing. The WMI shareholders and bondholders are now not a party to the DC case and only the WMB bondholders remain. In the judges closely paraphrased words, "so we no longer have to deal with WMI or the bankruptcy court".

The Texas attorneys, JPM and FDIC then proceeded to take another 75 minutes to argue over pushing the case back to Texas and whether FIREAA applied. They will submit simultaneous briefs within 2 weeks and they can then submit replies limited to 5 pages.

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