XOM: Was there not any other high profile bankruptcy firm available at the time? The fact that the Board signed off on Weil retainment even though a conlict of interest existed, is a clear indication they were not looking out for equity. This should be brought up by the new EC attorney's. EC needs to move for removal and no payment of fees. Carlinsky has a point there, Weil does not have the best interests of the shareholders in mind when they are litigating for the creditors. Interesting that we are seeing this now.. Right after the POS .POR was posted and shareholders got hammered on March 12th.
WMI's Board of Directors apparently signed a waiver of this CoI upon retaining Weil
Please do not invest in this stock because of what I say, you must do your own DD and make decisions based on your knowledge, NOT MINE!