This is going to settle in some form. JPMC asking for a list of creditors. This is a sure sign that negotiations are ongoing. This also signals the court give us time we're working on it. Wamu legal needs to keep the pressure on otherwise they will drag this as long as possible
XOM, real fabulous points that WMI listed, and really strikes home the issues that those on this great board have reiterated over and over. Great job everyone!
Actually I believe the JPMC was wanting to settle this thing back in March when they had everyone at the table. The talks broke down over who owns the 4.4 billion and JPMC filed the resulting adversary proceeding (I bet they wished they had never done this) that resulted in all talks being shut down.
I'll bet history will show JPMC was wanting to settle for about the same as Bear Stearns, but WMI wanted a lot more. I'll bet Bonderman was right there and if he wanted to settle for less as he had said before, he would have done so. JPM was probably still thinking they could get the holding company "on the cheap" and were stymied when they didn't.
... now WMI is not just adding urgency/pressure to the 4B decision (leaving apart the discovery time bomb they placed under JD's chair) but to their whole original set of claims up to 10B too!!