Replies to post #243263 on Mr Cooper Group Inc (COOP)

[rockie101]

fixedops...didn't the FDIC say the money was their's for some reason ?

[DudeBug]

Guess we all need to check back on the hearings ... or collectively we might remember the facts as it's been nearly a year since it all started.

After the last arguments (and FDICs empty threat to intercept the $4B deposit if the Judge ruled in WMIs favor) the Judge said she would make a ruling ASAP.

We didn't hear on the ruling for several Omnibus' then at one of the hearings the Judge brought it up and said she was ready to rule. It was the day of the bad snow storm (late Jan??) and the FDIC lawyer called in that day. He asked if she would wait since he wasn't in the courtroom and Rosen agreed.

If I recall correctly it seems the next time she mentioned the ruling Rosen asked her not to because they were working on a Global Settlement. (Feb)

Then in March we found out that the GSA actually meant "screw equity"!

[uzualsuzpect]

Got it!!! Thanks to XOM for transcribing.

XOM Share Friday, February 05, 2010 12:53:18 PM
Re: mordicai post# 147659 Post # of 243273

Audio Transcript; last 3 min, incl. re. $4B SJ

3:30 Court: All right, tell me about the FDIC. Do you want me to hold off any ruling until the continued hearing on that?

WMI: On the 9.5 Motion that has been adjourned, uh there are nothing further Your Honor. You can do as you wish.

DLA: Your Honor, this is John Clarke from DLA Piper. Uh, if I might be heard on that question -

Court: Yes.

DLA: The FDIC Receiver does believe the Court should hold off on that ruling, on the summary judgment motion; ah, obviously the Parties have different points of view on that.

WMI: Your Honor, the Parties' understanding was that the Court could make Its determination with respect to the summary judgment ruling. If the Court did do so, however, the FDIC could come in and seek some form of expedited relief and we would have a hearing at that time.

Court: When is it continued to, March 4th?

WMI: March 4th, Your Honor.

Court: Well, I'm going to hold off until the March 4th date. I don't need any more emergencies. All right, we're done then today?

...

<Court Adjourns>

5:57 WMI: <off record> You know, there was one good thing that came out of it, she said, 'I don't need that [sic] any more emergencies'.


Twitter: http://twitter.com/WaMuAudio
Audio file: http://www.viewip.net/WMI/Hearing/2010-02-05/20100205_05.mp3
Site: http://www.viewip.net/WMI/Hearing/2010-02-05/

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46332866&txt2find=clarke

[swooop]

Fix yes that is what i remember also and the jpm lawyer said go ahead and rule.