My gut could very well be wrong but something tells me the lack of a signature on the Application of the United States Trustee for Order Approving Appointment of Examiner is very suspect and indicates that something may be going on behind the scenes - and it is probably very good for equity and here is why.
(1.) McMahon and DeAngelis have the exclusive authority to appoint whomever they want subject only to the approval of Judge Walrath - indicating that the parties really cannot contest the U.S. Trustee's selection for appointment or claim they weren't afforded the opportunity to submit their own candidates for consideration; (2.) Judge Walrath was very clear about getting the examiner appointed by Monday and having the said examiner submit a preliminary report within a few short weeks - indicating that every day counts and there is not a moment to spare; (3.) the appointment of Joshua R. Hochberg would present a VERY formidable threat to the WMI board, JPM and the FDIC because he has significant experience in the examination process by virtue of his work in the REFCO bankruptcy and has quite a resume behind him with the U.S. Department of Justice to show he knows not only what to look for but where to find it - indicating that our adversaries are concerned that the appointment of Mr. Hochberg might lead not only to significantly increased exposure to financial liability but also an increased likelihood of criminal liability based on his connections to the Department of Justice; (4.) Judge Walrath has already stated that she would not accept an amended DS/POR until the examiner is through with his investigation - indicating that their plans to settle to our detriment and reorganize with the elimination of commons is completely out the window because Mr. Hochberg will not only discredit their existing DS/POR but also begin an investigation that will ruin them, while raising a question as to whether they would even be able to settle during the time that the investigation is taking place; and finally (5.) if history has taught us anything, it's that our adversaries have a habit of waiting until the absolute last minute before finally acquiescing - and this would be the last opportunity they have to settle before the examiner is appointed and the investigation quickly commences.
Again, this is just my gut speaking to me and logic making an attempt to justify my instincts. I could be wrong and this could simply be a delay as Judge Walrath performs a quick background check to verify that he is not conflicted in any way - but I hope I'm right and that this is it.
I'd love to stay online and discuss this further but unfortunately I have an exam to study for (wish I never took a summer class) and need to get on with it. My fingers are crossed and I'm hoping for the best.
Godspeed and good luck to all of us.
