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Re: Bizreader post# 226342

Tuesday, 07/27/2010 11:21:14 PM

Tuesday, July 27, 2010 11:21:14 PM

Post# of 729971
Correct.

The only ambiguity is whether she would accept a proposed global settlement agreement, but I discussed that in my post here:

If Judge Walrath is firm on not accepting a new amended DS/POR until completion of the examiner's investigation, then her position might create a major paradox because a new settlement would serve as a prerequisite for an amended DS/POR - even if the settlement and subsequent amendments to the DS/POR are favorable to equity. Accordingly, if she won't allow the amendments to proceed then WMI/FDIC/JPM have no incentive to settle during the investigation because the examiner would still obey the court and continue his examination anyway. On the other hand, the bottom-line purpose for the appointment of an examiner in this case is really to protect equity's interests. Accordingly, if those interests are adequately represented in a new global settlement agreed upon by all parties, then in theory there is no reason for the court to employ an examiner to protect equity's interests since they would already be protected by the new settlement.



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