Linda1, I hope that you were aware that the FDIC NEVER agreed to pay the Anchor award to directly to the stockholders. That is why the contrived LTW monstrosity was created in the first place.
Also, it is well known that JPM had it's eyes on WAMU for over a year before it pounced on it. The FDIC was completely complicit in this hold-up as it never had qualms about stuffing JPM's pockets with cash to the detriment of the LTWs.
The fact that the LTW were a stand a lone claim against the FDIC stuck in it's crow, and, in light of Judge Block's decision, was one of the first order of business to transfer to JPM upon the WAMU takeover.
I contend that that was CONVERSION. There are far more experienced and knowledgeable advocates and Counselors on this Board who can take this to the next level.
PS your input is much appreciated.
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