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Zitat kingedxxxxx:
Judge Walrath can confirm this POS POR by making many poor decisions:
1. She ignores the comments about JPM agreeing to turn over 4b early in negotiations and other issues about debtor not trying to maximize the estate and does not find wrongdoing.
2. She continues to rely on JPM and FDIC counter claims against the WMI estate and determines that the interest on the deposit would be countered by these claims so additional interest received by JPM will not be deemed unfair. So much for Aurelius claims.
3. She finds concern about IT with the hedge funds and agrees to FJR at the lowest rate.
4. She decides that another court will need to determine if claims should be disallowed and that money would go into the liquidating trust if it is later found that those claims are denied to some extent.
5. Even though the debtor negotiations may appear tainted due to the involvement of the setlement noteholders trading on these very negotiations, the Judge will still find that the debtor could not have done any better.
6. She still finds no issue with how debtor resolved many claims including the payment to the WMB senior bondholders for fraud claim.
7. She agrees with debtor that the NOL issue is quite limited due to the lack of money left with reorganized WMMRC.
8. The Judge determines that she is unable to take Jurisdiction and release of claims against JPM for activities that led to the seizure of WMB and its subs.
9. She decides that the preferreds should be placed in the liquidating trust as debtor suggests to potentially receive benefits from litigation of the pre-seizure claims, third party claims, and the potential money from the SNHs disallowance of claims.
10. She agrees to also give commons warrants in liquidating trust if such claims surpass full payment to the preferred classes.
11. She agrees to give Hs the WMMRC reorganized company due to the shortfall as per debtor arguments. Even with the additional money from the FJR at lowest level, debtor will show that it will still not reach preferreds or, if so, it will be passed into the liquidating trust separate from WMMRC and other assets.
12. She approves POR and has just F'ed over equity, but feels satisfied that equity has some recourse in another court for these other claims.
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Get this P.O.S. over with, come hell or high water.
I don't think it's going to happen, but it's possible. Look at the history of this case, and THJMFW's rulings. She does NOT have a soft spot for shareholders, she does not.
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Joe, I believe it is critical to show that the debtor did not negotiate a fair deal. The only way I can see that the Judge would believe this is to attack the JPM and FDIC counter-claims to show that they do not have merit. Without this being brought before her, or allowed to be brought before her, increases the risk of her continuing to stick with her "fair and reasonable" opinion.
Zitatende
MfG.L:)
Zitat kingedxxxxx:
Judge Walrath can confirm this POS POR by making many poor decisions:
1. She ignores the comments about JPM agreeing to turn over 4b early in negotiations and other issues about debtor not trying to maximize the estate and does not find wrongdoing.
2. She continues to rely on JPM and FDIC counter claims against the WMI estate and determines that the interest on the deposit would be countered by these claims so additional interest received by JPM will not be deemed unfair. So much for Aurelius claims.
3. She finds concern about IT with the hedge funds and agrees to FJR at the lowest rate.
4. She decides that another court will need to determine if claims should be disallowed and that money would go into the liquidating trust if it is later found that those claims are denied to some extent.
5. Even though the debtor negotiations may appear tainted due to the involvement of the setlement noteholders trading on these very negotiations, the Judge will still find that the debtor could not have done any better.
6. She still finds no issue with how debtor resolved many claims including the payment to the WMB senior bondholders for fraud claim.
7. She agrees with debtor that the NOL issue is quite limited due to the lack of money left with reorganized WMMRC.
8. The Judge determines that she is unable to take Jurisdiction and release of claims against JPM for activities that led to the seizure of WMB and its subs.
9. She decides that the preferreds should be placed in the liquidating trust as debtor suggests to potentially receive benefits from litigation of the pre-seizure claims, third party claims, and the potential money from the SNHs disallowance of claims.
10. She agrees to also give commons warrants in liquidating trust if such claims surpass full payment to the preferred classes.
11. She agrees to give Hs the WMMRC reorganized company due to the shortfall as per debtor arguments. Even with the additional money from the FJR at lowest level, debtor will show that it will still not reach preferreds or, if so, it will be passed into the liquidating trust separate from WMMRC and other assets.
12. She approves POR and has just F'ed over equity, but feels satisfied that equity has some recourse in another court for these other claims.
----
Get this P.O.S. over with, come hell or high water.
I don't think it's going to happen, but it's possible. Look at the history of this case, and THJMFW's rulings. She does NOT have a soft spot for shareholders, she does not.
----
Joe, I believe it is critical to show that the debtor did not negotiate a fair deal. The only way I can see that the Judge would believe this is to attack the JPM and FDIC counter-claims to show that they do not have merit. Without this being brought before her, or allowed to be brought before her, increases the risk of her continuing to stick with her "fair and reasonable" opinion.
Zitatende
MfG.L:)
Alles nur meine pers. Meinung, kein Kauf- oder Verkaufs-Empfehlung!
