messages.finance.yahoo.com/Stocks_(A_to_Z)/...;tof=3&frt=2
Zitat:
FDIC Settlement EXTENDED to 30 Sept
16-Sep-10 03:33 pm PURCHASE AND ASSUMPTION AGREEMENT
AMONG
FEDERAL DEPOSIT INSURANCE CORPORATION,
Receiver of Washington Mutual Bank
Henderson, NV
and
JPMorgan Chase Bank, National Association, Seattle, WA
DATED AS OF
September 25, 2008
AMENDMENT TO ARTICLE 1
FINAL SETTLEMENT DATE
Pursuant to Aricle 1: "means the first Business Day immediately prior to the day which
is one hundred eighty (180) days after Bank Closing, or such other date prior thereto as
may be agreed upon by the Receiver and the Assuming Bank. The Receiver, in its
discretion, may extend the Settlement Date."
The purpose of this Amendment is to extend the time period for the Final Settlement to
September 30,2010.
FEDERAL DEPOSIT INSURANCE CORPORATION,
Receiver of Washington Mutual Bank
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1. "Catz"
...A reminder:
This is NOT the GSA Settlement. That already will stay in place, until someone actively pulls out.
This is the settling of the "Purchase and Assumption" agreement. Eg, the PRICING we assume that the FDIC can still extort from JPM.
This needs a proactive extension. It has been extended again to Sept 30th.
If nothing happens, I fully expect it to be extended again, and again. I just don't see the FDIC, since they have the unilateral power to extend it, letting JPM off this major hook.
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1.1. "Catz"
...gov - "interesting it took two weeks past the last expiration to decide to extend another 30 days...;)"
Hmmm.. it depends on when this extension was signed, and whether there was another extension before this current one we don't know about.
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2. "Bop"
...They can continue this indefinitely. This way it gives the impression that all will be settled in 30 days. This limited window may have been negotiated among WMI, JPM, and the FDIC to give this impression. There will be no -- repeat -- NO final settlement until the FDIC's liability to WMI is fully assessed.
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3. "Bop"
...No. The FDIC would use a final, unappealable ruling on its liability to WMI OR a final settlement between JPM and WMI that includes a release of liability for the FDIC.
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Zitatende
MfG.L:)
"Ein jeder gibt den Wert sich selbst"
"Der Schein regiert die Welt, und die Gerechtigkeit ist nur auf der Bühne".(Parasit)
Und es herrscht der Erde Gott, das Geld.(An die Freude)