investorshub.advfn.com/boards/read_msg.aspx?message_id=53707405
Zitat:
Posted by: fsshon Date: Wednesday, August 25, 2010 12:06:43 PM
In reply to: uzualsuzpect who wrote msg# 232718 Post # of 232755
Not only is the DS/POR dead, the Global Settlement is also Dead. Examiner will have a very hard time getting the documents he needs from JPM. They will stall him (even if he has subpeona powers) they do not care. They will stand behind their 5th amendment rights and push the examiner back into the courtroom asking THJMW to force them to cooperate.
The GS is premised upon WMI (debtors) doing enough DD that they felt it would be in their best interest to delete the liabilty to all parties and settle their claims for much less than they are worth. They say through their "work product privilege" they were able to conclude it would take more time and expense to prosecute the claims they charged in their original filings and felt it was the estate's best interest to settle them. They can not even prove they did an Asset valuation or future claims valuation properly and professionally. It was a Cover Up from the start. Shed debt and equity and sell new shares to hedge funds and JPM affiliated funds and of course the bondholders who would therefore own the rest of what's left after JPM illegally pillaged WMI and WMI did not seem to care.
This whole thing stinks and we have been constantly harping on the fact they were given discovery powers under Rule 2004 to subpeona and depose the players on the JPM/FDIC side of the field. They in turn billed the estate for "IMPOTENT" discovery work that was never performed. They in turn decided after their "so called" due diligence that settling was better than litigating. They are just as much crooks as JPM/FDIC are and should also be prosecuted from misrepresentation and gross negligence in the handling of the estate. Ethics review Boards should be gearing up to accept a large numer of professionals. The UST should be prosecuting these violations soon, once it is proven they committed BK fraud.
It seems they had this intention from the start. They did get the claims into the FDIC and JPM in time for limitation, so Susman can "through the examiner" request a Case trustee who will be prosecuting the case. We will be here well into 2011, because JPM and The FDIC will stall a Trustee, just like they are going to stall the Examiner when it comes time to depose Dimon and the rest of the crooks.
Dimon will never be deposed, because he is being protected by the Government. JPM will do what JPM does so well and that is delay this case and make shareholders lose more $$$$ in fees while trying to pursue the "deep pockets" of JPM. WMI is wanting to depose the EC, that is crock and THJMW shot that down a couple of weeks ago. Why does Weil need to depose the EC and not JPM/FDIC officials like they were supposed to in Fall of last year? That my friends brings us to the crux of the argument about representation.
The Examiner needs to come into the courtroom on Sept 7th, say what I just said and ask for a Case trustee, therefore virtually relieving Weil. Then we can be rest assured our future is in the hands of the right team.
You don't give up 30 Billion in potential litigation claims for nothing. You do not give your money away, so you can get money that was originally yours. You litigate and you put your exisitng money in the bank to show your solvency and pay off your creditors. A is above L and the Examiner will prove it and then Susman can actually get control of this case.
TPS will have a hard time proving anything agianst JPM, because their discovery efforts will be blocked by Weil (why?) Because Weil does not represent the estate like they were charged with doing. Weil should be "all in" for TPS discovering new evidence and documents that support their argument, instead they are blocking TPS's efforts. Does anyone feel TPS deserves to be allowed to discover everything they need to prove their case? Yes !!! THJMW said "many will want to ride your coattails" that means she feels or thinks the debtors will want to use and see the info you disocver to bolster their case.. Not on your life, they want to hide it all. Susman will want to see it and will be riding the coattails as they ask for a Case trustee. If the appointment of a Case trustee in the context of the law for which its use was written, this case warrants the need for one. DIP's have screwed it up and cost the estate hundreds of millions in fees in the process, essentially raping the estate fo valuable resources that are needed to prosecute the claims against JPM and FDIC.
You see Weil definitely has a COI (conflict of interest) and needs to be removed from this case and let the true professionals who will have the original owners (equity) interests in mind and at hand. A case Trustee will be asked for, because the examiner will expose the breach. Just like Ilovestocks wrote, Weil and the rest of the crooks should not be paid for ripping off the estate.
Now here is what I am getting at.. Unfortunately it is time to compose a new letter to THJMW asking for a Case Trustee who will be a "disinterested 3rd party" to take over the responsibilites of DIP (debtor in possession) of this case. It is apparent our current reps should be fired and new ones in the form of a trustee installed. I have a distinct feeling that will be a recommendation in the examiners report. If we think the examiner's reps check the court filings to keep him updated, we may (just like we did with the UST request for an EC) put a "bug in his ear" and actually compel him to ask for appointment.
We need to get the power of Weil off this case and move it forward, knocking out the roadblocks they seem to be putting up for some reason. Time to drive a Big Concrete Truck right through the roadblocks and get to a clear road ahead.
The last letter I wrote had over 200 Ihub shareholder signatures on it. The new one should have at least double that. i will get to work on as soon as I can.. I need someone to send me billing analysis, against actual work performed, so I can include direct evidence in the letter. Anything you think should be included in the letter in supporting the need for a Case trustee to be appointed should be sent to my email at
myinvesco@gmail.com
Thanks..
~Fish~
--------------------------------------------------
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)
Zurück
Weiter
