Replies to post #7465 on Dime Bancorp Inc (fka DIMEQ)

[linda1]

I do not think that the Order to Dismiss the Appeal will have any impact on any future Claims against JPM by the LTW Holders.


In reading the Opinion - it states that since the actual Order which approved the LTW Holders' Settlement Agreement with the Debtor - WMIH - was not Appealed, then all LTW Holders - including those who did not opt into the Settlement Agreement - were bound by the LTW Settlement Agreement - which granted the Debtor protection from any future Claims against the Debtor from all LTW Holders.

The Appeal also argued that the Bankruptcy Court lacked the jurisdiction to adjudicate the LTW Holders' Claims and that their Claims should be remanded to the US Court of Federal Claims. The Judge stated that since the Debtor believed it had an interest in the Anchor Litigation Award then the Bankruptcy Court did have the jurisdiction to adjudicate the LTW Holders' Claims.

[linda1]

On second thought - since the Delaware District Court ruled that the Bankruptcy Court had the jurisdiction to adjudicate the LTW Holders' Claims then that could hinder any future Claims being filed against JPM in another Court of Law.

If you recall - one of the reasons that the US Court of Federal Claims denied intervention by the LTW Holders is due to it would be a Collateral Attack on the Bankruptcy Court's Ruling. The exception to the Collateral Attack Rule is if the Bankruptcy Court lacked the jurisdiction.