My take on our pleadings are that we are going after WAMU for breaching the Warrant agreement by selling the rights to the litigation proceeds to JPM without also transferring the obligation to pay the LTW holders to JPM.
As we know, WAMU did not have the right to do this, and so now we are saying that WAMU must pay us for their breach of contract.
I believe Judge Block made his award to the LTW holders. In the scenario that would send those funds to JPM and we would have to argue for creditor status with WMI is hard to comprehend and Judge Walrath must recognize that.
I grew up with the Golden Rule. Obvious Jamie Dimon never learned it. Pity. No wonder there is strife in the World.
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