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Tuesday, September 07, 2010 1:58:39 PM
Here is how it goes..
1. Joyce and Hans Brost pushed hard for an EC appt by the UST, UST tirns down inital requests, but subcummbs to equities demands only after 3500 letters sent in by shareholders and "exigent circumstnaces" arose that forced MCMahon (at the request of the Trustee DeAngelis) to put forth a brief requesting an EC.
2. THJMW listens to and approves UST demand for current shareholder list
3. THJMW approves UST request for an EC
4. EC is appointed and gets to work.
5. Debtors/JPM/FDIC announces a Global Settlement Agreement in court on March 12th. The day THJMW was going to render her verdict on the SJ for the 4.4 Bil in deposits. The GSA had not be finalized nor signed by the settling parties, so therefore on March 12th, was not a legal announcement or document until the March 26th Omonibus, where the debtors submitted their POR.
6. The EC goes through 2 attorney firms, until the head of the Dewey and LeBeouf, asks Susman to take over the case, because he is conflicted, since he used to work for Weil.
7. Susman takes over case and in the first omnibus, Susman tells THJMW he will be requesting an Examiner.
8. EC briefs and applies to the court for an appointment of an Examiner.
9. THJMW denies request for an Examiner under the pretense the EC can perform whatever analysis it needs to. No need for an Examiner EC has discoery powers.
10. THJMW is informed of "no cooperation" between the parties, therefore nullifying the pretense she set in her original ruling on an Examiner.
11. THJMW appoints an examiner with approval from all parties except the WMI Noteholders Group.
12. Here we are today with the Examiner threatening and requestign that his report be publicly released...
OH YES, Bring it on baby.. We all need closure to this debacle..
Who wants to bet, we never see that report, because the findings will push the parties to the table? However in our corner,we have Steve Susman, one of the 10 lawyers you never want to see on the other side of the table in negotiating a settlement!/b]
LOVE IT !!!
~Fish~
Thank You Joyce and Zardiw for never giving up and making us see the light !!
~Don~
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