More thoughts! Happy Thanksgiving to ALL including the Criminals!
We all know the court had her opinion ready on the infamous “four billion” as the court told us this much, but due to Rosie’s Global Settlement she never made the opinion public. There has been much discussion on DIME LTW and what does it mean. Some posters think the court has to make a ruling before any mediation agreement that may take place due to the priority if a certain party wins and some posters think Rosie is trying to use this settlement to go against the assets, thus ensuring liabilities remain larger than assets. There is no doubt that Rosie will try to zero Equity out to the very minute Equity agrees to some form of settlement, should that happen.
If there is a mediation agreement that includes Equity and the major players, it would seem to me this court would never have to make a ruling on DIME LTW and other issues that this court has not wanted to rule. DIME LTW was drug out for so long, there had to be reasons for doing so and I always thought the reason this court never ruled on certain issues in POR1/POR2 opinions is that the ruling would have had to go in the favor of Equity, thus putting Equity in charge. We know this was never going to happen because this court is protecting JPM/FDIC to whatever extent it takes. With the mess that DIME LTW exposed with the Debtors, I find it hard to believe this court is going to continue to aid in the destruction of the Estate by protecting this criminal behavior on behalf of the Debtors, Hedge Funds and Creditors. It would seem this court opinion should be since the evidence shows this court can no longer support this Global Settlement that was not of good faith and allows mediation to continue or puts a Trustee in charge since the court is afraid of Susman going after the Criminals.
Now with DIMEQ LTW trial over, some posters have been discussing we could have a mediation agreement including all major players and I think this could very easily be happening but the answer to the following question may give us an indication of when an agreement would be announced. Let’s say all major players agree to something, will it still take 30-45 days to go through voting, tally and distribution or can this just be over with a court appearance by the players with the court agreeing and signs. If this has to go though the normal process we will lose much potential NOL value, as the value starts going down each day past 1/1/2012 with the maximum NOL value being on the very first day of the year as they are prorated. We could easily be into February/March 2012 if there is as agreement as late as December 2011. The flip side of the coin is if an agreement would only take a court appearance to finish, we may have to kill enought time to get into the first week of 2012 which would put many people at ease.
