Replies to post #244140 on Mr Cooper Group Inc (COOP)

[uzualsuzpect]

Almost happened ~ Thanks to XOM -----



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

[clawmann]

She has ruled on it. But the parties to the dispute over the $4 billion (WMI and JPMC) asked her not to issue the ruling because they had, in the interim, agreed on a proposed Global Settlement, and that proposed Global Settlement (on which the POR is based) settles that, and other, disputes. So the judge never issued her opinion, but put it in her drawer. If the GSA and POR are shot down, she will very likely be asked - I think - to issue her ruling.