I think a trustee is not that bad.
Here we are now.
I fully expect the POR to be rejected. There's no way this POR can fly.
1.- Debtors didn't show any evidence
2.- Debtor's witnessess didn't know a 'sheet' about the GSS, releases, ballots. Just pre-made statement that they repeated like robots.
3.- Too many unjustified releases in this POR.
4.- Debtors didn't care about their fiduciary tasks with the Equity holders.
5.- Debtors try to give up claims against FDIC and JPM for nothing because they would be very hard to prosecute, but they accept 100% JPM and FDIC claims without any analysis. Doesn't seem equitative.
6.- JPM bided 1.88 billion on 2008. If they get a cent from the 'new 2009' 5 year carry back NOLs, price should be increased as well...
7.- ...but of course JPM cannot get a cent from those NOLs because they were TARP recipiends.
8.- The POR didn't show any audited values, there is no asset list provided by the debtors...
9.- ...JPM didn't produce the list of assets that they received from FDIC as requested by THJMW...
and many many more irregularities that cannot make this POR go anywhere but the recycle-bin. You cannot even use it as toilet paper, duh...
Well, at this point I expect this POR to be rejected PLUS I expect some kind of charges are filed by the Court.
Next, I think THJMW is going to designate some impartial trustee, but I think here we might be more lucky than with the Examiner, as the Examiner only could work with the papers the parties gave him, and the Trustee should take control of everything, thus seeing through what the Examiner couldn't see.
What I would hate is to have the current POR somehow aproved with amendments or some other mild solution that wouldn't kick debtors out of this process...
Thoughts?
