Washington Mutual Preferred fka WAMPQ

[mordicai]

The turnover proceeding has not been settled nor has it been dismissed. The proceeding cannot be voluntarily dismissed by the holding company without a hearing unless all parties agree. The bondholders were allowed to intervene and their lawyer has now said that the proposal is unacceptable. So I would expect that the bondholders will put the matter on the docket again for judgment to be rendered since a global settlement was not reached. And once the ec is made a party by intervention motion being granted, the ec will do the same. Thus, the pressure can and will be put on JPM and the fdic once again to reach a better settlement.