Yes, Deadmau5, OTS agent John Bowman seized UWBK too soon. That was illegal & wrongly action.
According my "investigation" & IMO ......FBI may investigate John Bowman in "OTS selling UWBK bank to First Citizen bancorp": OTS & FDIC has been planed to sell it before OTS sent "the notice of recapital plan" to UWBK .......and there were two bidders to bid UWBK.........First Citizen Bancorp won the bid!!........OTS & FDIC can't provide the whole details of process (exactly date & time in processing document) .....this action may involed "under table deal" between First Citizen Bancorp & Mr. Bowman.......If this was true things and John Bowman will be arrested to the jail !!!....IMO
That's why I post thousand times here: UWBK will win the lawsuit & FDIC need to pay for damages!
UWBK one of 6 attorneys Mr. Lawrence Kaplan, Kaplan served as a senior attorney in the Chief Counsel’s Office of the United States Department of the Treasury’s Office of Thrift Supervision and its predecessor the Federal Home Loan Bank Board. in both the Business Transactions and Enforcement divisions. After leaving government service, Mr. Kaplan has served as an associate, of counsel or partner at three Washington, DC law firms.
Lawrence Kaplan is working for the Paul Hastings Janofsky & Walker LLP. In filing lawsuit He said: "OTS(OCC)agencies did not do enough homework to make sure their analysis of the institution was correct......John Bowman wrongly & illegal seized UWBK !!!"
All the DD is favorite of UWBK:
$4---$10/pps for final FDIC settlement!!!
We may get $10/pps ---$20/pps potential if FDIC delay all lawsuit case "settlement" !!!
1)Lawrence Kaplan, an UWBK attorney at Paul, Hastings, Janofsky & Walker,He was working in OTS(OCC) before going to work in private lawfirms, He said: OTS(OCC)agencies did not do enough homework to make sure their analysis of the institution was correct.....then seized UWBK.
2)Every Bank is different situation: Notwithstanding 17 years of operation, it was clear the OTS agencies did not have a complete understanding of the business operations.........UWBK capital depositors are all solid commitment business partners.
3)Andrew Sandler, a partner in BuckleySandler LLP , he said: "UWBK was in a period of time when the regulators were moving too quickly to seize banks, and once they decided that that's what they want to do, they're working to create a record to close UWBK banks rather than working with UWBK banks to try to enable them to succeed ".........OTS seized & closing banks too hastily........it's unlawful & illegal action.....
4)UWBK has no "Liquidity Crisis:UWBK attorney Andrew L. Sandler said: "The liquidity concerns asserted by the OTS and FDIC were based on their unfounded disapproval of the bank's 17-year-old business model and a fundamental misunderstanding of the bank's long-term, contractual relationships with the institutional depositors"
UWBK's Attorneys said the sudden classification of the deposits essentially created a liquidity crisis.
"There was no liquidity crisis. They closed this bank because they prophesied that there could be a liquidity crisis"
5)Feb. 7th Judge Amy conference hearing call: that may push both parties to build up "settlement"!!!
***under OTS illegal seized UWBK that FDIC has no clue, find no excuses to sue UWBK executives for "$120 million losses after FDIC sold UWBK to First Citizens Bancorp"
***First Citizens Bancorp 10Q report post they have huge netincome after bought the "UWBK fail bank" !!!
***OTS(OCC) delay to provide the "complete administration record" and UWBK attorneys requested "expedited lawsuit case" has been granted from the court judge!!!........Push the OCC in the corner !!!......OCC can't provide the proper record & information to the court till now!!!
***OCC attorney John Walsh replaced OTS John Bowman (he seized UWBK bank).......but recently OCC John Walsh & it's lawsuit lead counsel Mr. Robert all withdraw from the lawsuit case files !!!.............May the FDIC low-ball settlement has been throw out to the table possibility!!!
***Dec. 2011 UWBK update it's holding company O/S shares from 29.43 million to 29.26 million shares (UWBK never update it's O/S since Sep. 17th 2009 UWBK recapital sold the 21 million Offer common shares($4 per share) to the Institutions & Hedge Funds)...............Maybe the settlement deal out......and then UWBK holding company start to "recount" it's total issued shares !!!
6)FDIC plaintiff position in Bank of America settlement that will be came back to UWBK holding company.......at least $0.5/pps add up.......after FDIC settle with UWBK
UWBK may ask $500---$900 million settlement !
UWBK shareholders may get $10/pps potential
****Another possible deal: FDIC settle cash with UWBK holding company & ask First Citizen Bancorp to buy out UWBK at $180 million Equity whole 29.26 million common shares .......Bank of America settlement settlement cash that going to First Citizen Bancorp): there is $6.15/pps buy out!!!............So First Citizen Bank will strong buy float shares from market now!!!???
Go UWBK
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