"There was an exchange at the end between Strochack and Hochman about which warrant agreement was valid, having to do with whether section 4.2 is fully in the current agreement. I think. I didn't realize there was any issue there. The judge didn't seem too concerned with it though."
True.
But no matter which agreement might control, there CAN/WOULD be NO circumstances under which the BOD could be a party to such a serious, blatant dereliction of duty to the Dime Ltw Holders.
I didn't hear ANY defense from Goulding (or from Strochak for that matter), as to why the "BOD" NEVER discussed the implications of going along with the Insider Trading SETTLEMENT Note Holders ("IT-SNH's"), SCHEME to DEFRAUD and DISENFRANCHISE the Dime Ltw's of their Rights and Intersts in the 85% of the Anchor Savings Goodwill Litigation that we "owned" (past tense, since A&M and the "BOD's" saw fit to give away the 85% of the Goodwill Litigation that WMI NEVER, EVER owned).
The IT-SNH's simply gave away OUR interests in Anchor, as it would benefit THEM, and ONLY THEM, under their schemes to have the waterfall stop at just the right place. Any further down the capital structure and they would lose the NewCo that they wanted so badly so that they could "K-Mart" the hell out of us.
Nice scheme, but they got caught. And so far, we've only seen the tip of the iceberg. Can't wait to see what happend once we get FULL DISCOVERY on these criminals, and they won't be able to play "hide the ball" any longer.
[EDIT]:
Ps: was it just me, or did Goulding seem way out of his league for being the "Treasurer" of WMI, not to mention being a "quasi" member of the BOD?
What is a chemical engineer doing "acting" (key word), as Treasurer for one of the biggest bankruptcy Estates ever?
And wouldn't you expect a Treasurer and BOD member to attend a few Board Meetings every now and then?
And wouldn't you expect said BOD member to at least know a few of the people that "might" be on the Board with him, other than Special K?
And wouldn't you expect said BOD to discuss a pretty serious, grave matter, such as the Anchor Litigation GIVE-AWAY, especially when WMI NEVER, EVER owned 85% of of said Litigation, and how this might ADVERSELY and MATERIALLY impact the Estate, as a result of the blanket dereliction of Fididuciary Duties to the Dime Ltw Holders under any/all versions of ANY warrant agreements out there?
In hind-sight, Strochak might have been better off going with Special K. At least with him, K knew how to "forget" a lot of things at just the right moments. Such as when he would get Cross-Examined.
