Replies to post #118285 on Mr Cooper Group Inc (COOP)

[Texan77]

check this guys post hes the board legal interpriter unchalenged so far
Posted by: mordicai Date: Wednesday, November 04, 2009 7:19:23 PM
In reply to: drrugby who wrote msg# 118084 Post # of 118287

The fdic is a bit late. SHould have done this BEFORE jpm filed the interpleader. Actually, this issue is already submitted with the decision on the motion for summary judgment of the turnover action. It is already before the court. A party cannot bring it up and reargue it like this. Otherwise litigation would never end. Note that the fdic still has not exercised the contract clause. Just another futile act on fdic's part. The contract clause violates the constitution under the fdic's interpretation. It is up to Walrath to decide what the contract clause means not the fdic.
I don't think the fdic understands that by asking for relief from the automatic stay they have admitted that the deposit is part of the bankruptcy estate and owned by the holding company. They have admitted that the bankruptcy has jurisdiction, and have probably waived all their arguments that the receivership trumps the bankruptcy estate. What fools. I expect JPM to oppose this. They don't want to turn over the deposit to anyone. That is why they filed the interpleader.