Hello!!
This is my first post.
First I think that you folks do a great job for the rest of us watching the WAMU saga! This board allows/invites a broad spectrum if ideas, and that is great!
My father use to say "Kiss" it son. Keep It Simple Stubid!
Sorry, this is a long post. But what if this is only about access to information. Information Rosen does't want the light of day cast on it. I know we all want a settlement. But what if this meeting is something more simple.
Sussman does not have enough info yet to propose a settlement. I've seen values for nothing to $20X 2 or 3 etc....Sussman is about getting info. And he is not about to give up the farm if he's not sure of the value. How can he settle on a $$ amount if he dosen't have something to start with. This is my thinking for what is is worth.
In May Sussman requested and examiner. We all know why. Rosen told the judge that the an examiner was not needed because Debtors did their own investigation and the isues have been Investageted to death. Beliveing Rosen, the judge denied the request and told Rosen to cooperate with the EC about the Debtors investigation. Sussman appealed the decision to the CA,(court of appeals). In June, what little Rosen shared with Sussman, and Sussman's contact with others indicated very little was looked into. Very different story from Sussman vs Rosen. But the judge does't want to rule for an examiner, Rosen would appeal, and the appeals court already has the EC's Appeal. A judge does not want to have two sides of the same arguement in front of the CA.
So the judge tells Rosen to have a "Confir" with interested parties about sharing info. Rosen still controls what is given to Sussman and others. But Sussman is still not getting the info needed and wants work product. Rosen only whats to give Sussman what Rosen gives him. And very little. Sussman also knows it is difficult to have the judge order an examiner, also we're another 60 days down the time line from May. I also think Sussman now WANTS to personally see all the info, and not just what an examiner might share or dig up, depending on the ability and expertise an examiner might bring. Besides if Rosen whats to "move on!" why the STALL? Is there something in Rosen's work product? So In July Sussman asks for a SEAL ORDER! The decision of what is shared is taken out of Rosen's hands, and is before the Judge. Sussman can't share the infor with other parties unless the judge allows the info in open court. The judge likes it because she dosn't have to reverse herself on an examiner, no conflicting appeals to the CA and won't further delay the case until the examiner's report. The judge can tell Rosen in so many words,
"....ALL OF IT....
If Sussman can get the info without the examiner, all this should start falling into place. And when Sussman has a number he can hang his TEN GALLON HAT on, we'll have a settlement.
So we now have a super confir.
Thanks to all who read the whole post, hopefully you won't run me out of your board.
AI
