The CIC issues being adjudicated in Feb., 2019 have nothing to do with WMB's transfer to JPM. It has to do with the Employee Claimants legal argument that a CIC of WMB has occurred so they are entitled to their payment. Apparently there was a clause in their contracts that stated if WMB was ever seized and a CIC occurred they would be paid that severance. Nothing to do with JPM as claimed...just more nonsense from....
Also WMB will not be removed from the WMI Tax Group because of the Tax sharing agreement with JPM. If WMB is removed JPM could receive 100% of any Tax returns received instead of the 80% they now receive. The LT is entitled to 20% of all returns so WMB will not be removed. I await actual proof to be refuted...not empty rhetoric.
Document page 12 of the LT's last 10K. See LT website (pdf pg 21)
The Trust and counsel to certain employee claimants have agreed to amend the existing scheduling orders in the claims reconciliation litigation on several occasions. The most recent scheduling order amendment approved by the Court, dated January 19, 2018 (the “January 19 Order”), extended the deadline for the completion of non-expert discovery related to the Employee Claims to November 7, 2018 and the deadline for the completion of expert discovery related to the Employee Claims to December 12, 2018. In addition, the January 19 Order set a trial date on the change-in-control issues raised in the Trust’s omnibus objections for February 26-28, 2019. As of the date hereof, the Trust has responded to 23 sets of requests for production of documents and 14 sets of interrogatories, has reviewed over 850,000 documents from approximately 120 custodians, and has produced more than 84,000 documents.
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