Huh? Unless JPM/FDIC comes up with a factual dispute the motion for summary judgment will be granted. In order to defeat the motion, mere allegations of fact are insufficient to defeat the motion. JPM/FDIC must submit counter affidavits to those submitted with the motion by the holding company. Affidavits of people who have first hand knowledge. Now JPM/FDIC may try to ask to depose those people who made the affidavits but this shouldn't be much of a delay if it occurs. JPM and FDIC cannot even pay off someone to submit an affidavit to substantiate their claim of fraud that the money was transferred fraudulently because WMI knew the seizure was coming. How can you prove the holding company knew a future event was going to definitely happen? You can't. There really isn't even a factual dispute as to what amount the fdic may be entitled to of the 4 billion, because the fdic still hasn't made any formal claim over it.
>Judge Walrath can not and will not be able to make the decision on the 4.4 Bil in deposit accounts until she is certain by way of BK Rule 2004 (legal discovery) that the money belongs to WMI. She knows JPM/FDIC lawyers are chomping at the bit to overturn her decisions in appeals court and that all bases have to be covered. Discovery will prove the source of the money, give it time and be assured when she makes the decision, she is making in light of all evidence seized by her regulators. Subpeona's went out last week, give it some time, people close to the case will keep us informed.
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