WMI trying to change venue over our BOD removal vote - WTF!
from Y, first disclosure statement
Guys: Page 48, #11 - "...On April 26, 2010, the Equity Committee commenced an action against WMI in the Thurston County Superior Court in the State of Washington. On May 13, 2010, WMI removed the state court action to federal court, and it was automatically referred to the United States Bankruptcy Court for the Western District of Washington and assigned to Bankruptcy Judge Paul B. Snyder. On May 14, 2010, WMI filed a motion to transfer venue to the United States Bankruptcy Court for the District of Delaware. A hearing on WMI’s motion to transfer venue is currently scheduled for June 11, 2010."
and also here with new POR Page 32
1.89 Equity Committee Action to Compel: The action commenced by the Equity Committee on April 26, 2010 in the Thurston County Superior Court in the state of Washington seeking to compel WMI to convene and hold an annual shareholders’ meeting for the nomination and election of directors in accordance with Washington state law, which action was removed to the United States Bankruptcy Court for the Western District of Washington on May 13, 2010, and which currently is subject to a pending motion to transfer venue to the Bankruptcy Court.
Has anyone here seen/posted/discussed this yet? I was thinking Rosen/BOD wasnt too worried about this shareholder BOD vote, yet apparently they are enough to try this action and move it back to Walrath? What do they have to gain from this? She already ruled for us to go to WA and get that meeting? Why send it back? What's going on here - other than last minute desperation?
