Either is goiing to be long battle, eventually ending up at US Supreme Court or it is not going to be not as long as people are expecting here. Why?
If for some reason WMI creditors are very greedy and stubborn then it will be pretty long battle. However, check this out (All credit for the below DD goes to W3Research):
".........The fact that they have a committee, capable of gumming up the works with motions and claims, is likely to deliver them something, said Georgia State University law professor Jack Williams. "A valuable commodity is time," he said. "An aggressive shareholders committee can make the company jump through all kinds of hoops. It takes time — lots of time — and it takes expense." And that gives companies an incentive to "gin up some kind of settlement, in exchange for shareholders dropping potential claims," he said. Another expert, University of California law professor Lynn LoPucki, put it succinctly: "If you get a committee, and the committee gets a lawyer, you're going to get something." Some shareholders, meanwhile, aren't waiting, according to Wilson, the former committee member. He said a group of shareholders independent of the official committee intends to force a full investigation of the value of Mirant's assets, by independently soliciting bids for them. The effort, he said, will show the court that Mirant has alternatives that would allow it to satisfy creditors and leave shareholder equity intact. ...."
JPM/FDIC do not care about the time and they do not care if we settle this quick or not at all. BUT the creditors of WMI and those hedge fund billionare they DO care! Their investments, billions of dollars, are tied up on the court now. They want to get their money quick so that before economy gets better they want to do more billions. And IFF their money gets tied up on the BK "very long time" they cannot do this!
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