Sunday, November 28, 2010 1:27:10 PM
Now as for unwinding the Chase deal, not gonna happen the stones are overturned and buried 100 feet deep with 10 feet of molten steel, 40 feet of packed granite and limestone and 50 feet of straight concrete, in other words.. NOT GONNA HAPPEN!
However paying the rightful amount for the assets they received is something the FDIC can make JPMC do as part of the closing of the "open" P&A. Once again though, that is not for this court to decide, we have to go back to Judge Collyer for this...
That is saving Equity move, going back to DC puts all the Examiner reports and DOCS front and center, because the CA was signed in Del, does not translate to DC..
If THJMW is stupid enough to let the Debtors snow her over in this venue, believe me the parties are setting this up on Appeal. We could see this case in front of the USSC if THJMW approves this BS POR without a valuation of assets. UIEG is working behind the scenes to help all of us.. Weil/JPMC (s&c)/FDIC are not in the business of writing laws, Congress is and they clearly stated "valuation of assets" as a pre-cursor to confirmation of a POR. This company is being liquidated in BK court, not reorganized as a healthy one that will be in the same business it was in before entering court.
Nuff said, only Collyer has the power to "unwind" receivership.
~Don~
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