Contents of PJS/BDO reports, as described by WMI: Looks like PJS focused strictly on NewCo. Also, note the timing of the submitted reports, and compare with the EC's negotiations with the SNHs.
The Equity Committee retained Peter J. Solomon Company, L.P. ("Peter J. Solomon") as financial advisor and requested that Peter J. Solomon critique the valuation performed by Steven Zelin, the Debtors' valuation expert. Anders J. Maxwell ("Maxwell") prepared a Residual Washington Mutual, Inc. Valuation Critique, dated April 29, 2011 (the "Maxwell Report"). The Maxwell Report opines on the valuation of the reinsurance run-off business of Reorganized WMI and speculates on "scenarios" in which Reorganized WMI raises debt and equity capital to generate taxable income and utilize net operating losses ("NOLs"). Maxwell was deposed on June 30, 2011.
The Equity Committee retained Anderson to opine on the Debtors' ability to use its NOLs and other federal tax attributes in post-emergence periods, pursuant to relevant portions on the Internal Revenue Code. On May 2, 2011, the Equity Committee filed the expert report of Kevin D. Anderson ("Anderson"). The Equity Committee filed a supplemental report prepared by Anderson on June 23, 2011. Anderson was deposed on July 1, 2011.[1]
1. Motion for an Order Shortening the Notice and Objection Periods with Respect to "Debtors' Motion in Limine to Exclude Portions of the Expert Reports and the Testimony of the Equity Committee's Expert Witnesses Anders J. Maxwell and Kevin D. Anderson, p. 4 http://www.kccllc.net/documents/0812229/0812229110711000000000039.pdf
While the wicked stand confounded, call me with thy saints surrounded