Monday, February 14, 2011 6:33:19 PM
Now she purposely delayed her decision on the Plan, because of the NOL's coming into WMRRC and called for a re-valuation of the reorganized WMI. So that is a plus for equity.
THJMW: Well, let me posit this. The valuation
comes back that the reorganized debtor is worth ten billion
dollars. IMO..She is calling for a valuation with this statement and
Adam Strochak who is really running the case litigation for Weil knows this..The settlement simply is not in effect right now. In
23 fact, it has been amended and a new form of settlement was
24 filed before the Court today.(page 97) I wish he had not entered into the GSA, because he would have been cheerleaded by this board, he is a really good attorney.
She just allowed discovery of the noteholders, to see if they violated the "insider trading accumulation" laws and she rules accordingly once that is confirmed. Most likely the FJR wil come to them, not the contract rate. if it is more blatant than Thoma has projected, their is chance their claims could be disallowed, they will surely appeal such a ruling. What will the EC gather that could lead to more investigation of other parties and maybe a pre-BK investigation. I am inclined to think she has an idea of where this is headed. She pushed the date to Sept 25, 2008, instead of March 2009 as Nate was requesting, so that tells me she is aware of what the hedgies have been up to and they may have shot themselves in the foot with their greed..
She said "NO" on the rights offering to select parties and now the debtors do not know what to do with equity owning WMRRC, they can try and gift the company to the bondholders in violation of the Veil, but she has already made a point on the NOL's.
She allowed the EC no disband and no limit of funds to employ.
She reversed herself on the examiner..
What we do not know, is what is in all these sealed docs.. We have to wait for 3 years (after case conclusion) to find out. We have not seen or heard what she has, so we can not judge her for "all" actions.
I have given her back her THJMW (I know I will catch flack for this, but everyone is entitled to their own opinion, if you want to know why, listen to the confirmation hearings, read the Opinion and transcripts from Feb 8th..)...I am not defending the Judge, I am just pointing out some things she has done that favors us, if she was corrupt, we would have been ejected a long time ago. I know everyone is frustrated, that is a part of this long-winded investment.
I say this strictly as an independent shareholder, and IMO.
Interesting if you ask me...
~Don~
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