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Hab mal versucht die ersten paar Seiten der JPM Closing Arguments zu lesen.
IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re ,_ Chapter ll WASHINGTON MUTUAL, INC., Q Q.,] Case N0. 08-12229 (MFW) Debtors. J ointly Administered POST—HEARING SUBMISSION OF JPMORGAN CHASE BANK, N.A. IN SUPPORT OF CONFIRMATION OF THE — DEBTORS’ MODIFIED SIXTH AMENDED JOINT PLAN JPMorgan Chase Bank, N.A. ("JPMC") submits this post-confirmation hearing statement in support of confirmation of the Modified Sixth Amended Joint Plan Pursuant to Chapter ll of the United States Bankruptcy Code (the "Plan") of affiliated debtors Washington Mutual, Inc. ("WMI") and WMI Investment Corp. (collectively, the “Debtors").
2 SUMMARY l. The time has come for these chapter 11 cases to move forward. These cases have endured nearly three years of aggressively contested litigation, involving billions of dollars of multi~faceted disputes, prosecuted in multiple fora and then resolved through the Global Settlement, a complex compromise involving multiple parties that took months to negotiate.
Die Zeit waere gekommen in diesen Fall vorwaerts zu kommen. Nach fast 3 Jahren milliardenteuren Verfahren bla, bla das in einem Complexen GSA resultierte das in monatelangen , mit verschieden Parteien , verhandelt wurde.
These cases have also involved multiple invegions pursuant to Rule 2004 of the Federal Rules of Bankruptcy Procedure, a thorough Ystigation by the Court-appointed Examiner, two plan confirmation hearings that included} thrc full weeks of testimony, an 2 co 1 The Debtors in these chapter 11 cases and the last four digits of Etebtozg federal tax identification number are: (a) Washington Mutual, Inc. (3725); and (b) WMI Investment ( 5395 8 The Debtors’ principal offices are located at 925 Fourth Avenue, Suite 2500, Seattle, Washington 9810; § 2 JPMC addressed a number of arguments raised by Plan objectors 2>re-h~§·ing Submission in Support ofthe Debtors’ Plan ("JPMC’s Pre-Hearing Submission") [D.I. 8112] tliincorgrrated by reference as if restated herein. A copy ofJPMC’s Pre-Hearing Submission is attached for th=rt’s c;venience as Exhibit A, aggressively fought claim by the TPS Consortium to ownership of the trust preferred securities, and countless filings and hearings. This Court should now confirm the Debtors’ Plan, which will implement the Second Amended and Restated Settlement Agreement, dated February 7, 2011, as amended (the "Global Settlement"), and provide for distributions to parties so entitled.
Bis hierhin motzen Sie hauptsaechlich, das doch wohl genug Untersucht wurde , z.b Rule 2004, Examiner usw. Dann sagen sie das Gericht sollte nun den Plan bestaetigen Berufen sich nochmal auf das GSA vom 11 Jan 2011? und auf das restated (umformuliert, neu dargestellt) vom 7 Feb 2011.
Hmmm darauf bezieht sich McCurry in einem seiner Gruende warum das GSA nochmal bewertet, ueberdacht werden sollte. Das GSA vom Januar haben mehr Parteien als das von Februar , unterzeichnet. Er sagt, wie kann Global (umfassend) noch Global sein wenn weniger unterschrieben haetten. Ausserdem waeren nicht alle Parteien (z.b.EC) an den Verhandlungen beteiligt gewesen.
2. The economic terms of the Global Settlement, and the process by which the myriad claims underlying that settlement were litigated and settled, were considered and approved by this Court at the first confirmation hearing. In its January 7, 2011 opinion (the " ’), the Court found the Global Settlement to be "fair and reasonable." (Opinion at 2.) The Global Settlement includes JPMC providing in excess of $7 billion that will promptly be distributed to creditors which, along with a waiver of JPMC’s claims, will result in seniorl creditors being paid in full, and full or substantial recoveries for more junior creditor groups. The Court should reject the persistent efforts by certain objectors to relitigate aspects of the Global Settlement, notwithstanding that these issues were litigated fully and conclusively at the first confirmation hearing and this Court has several times ruled that it will not relitigate them. (Jan. 20, 2011 Hearing Tr. at 51:22-24; Mar. 21, 2011 Hearing Tr. at 119:24-120:1.)
Sie berufen sich wieder auf " fair und reasonable"...bla bla und Mary wollte auch nicht nehr darueber verhandeln.Sie solle die Einsprueche zurueckweisen.
3. ln its January Opinion, the Court also required certain changes to the prior plan, which have been faithfully implemented in the modified Plan currently before the Court. The Plan was overwhelmingly approved by voting creditor classes and, as the recently concluded confirmation hearing made clear, the Plan satisfies § 1129 of the Bankruptcy Code. Regardless,
Sie haetten die geforderten Aenderungen gemacht bla, bla, bla
l certain objectors—led by the Equity Committee and the TPS Consortium (a misnomer ro; a group owning preferred equity)—continue to assert one objectionvaiier another because it is in their interests to see that no plan is confirmed. These are the same groups who pushed the Court {683.00l·WOO160l4.} A -2- to appoint and the estates to pay for an Examiner, only to demand that the Court ignore his report when it was not to their liking. None of the remaining objections has any merit. A
Das Ec und TPS wuerden eine Gruppe anfuehren deren Interesse es waere den POR zu verhindern. Die selbe Gruppe die erst den Examiner wollte und dann den Report ablehnten weil Sie Ihn nicht mochte.
Tja nu,so kann man das "Ex Bericht in Tonne"auch interpretieren .
Dann kommen die Annico und Stern urteile dran.
Im weiteren ist zu sehen das JPM die Hedgies nicht unterstuetzt. JPM sieht keinen Grund , das der Plan nicht genehmigt wird, nur weil es IT Vorwuerfe gegen die Hedgies gaebe. Die Entscheidung ob die Hedgies Ihre Claims gegen WMI verlieren koenne doch auch nach der POR Bestaetigumg getroffen werden. Sie wuerden keine Stellung zu diesem Vorwurf beziehen.
Nach Rueckendeckung fuer die Hedgies hoert sich das nicht an. Hmm, diese IT Geschichte. Bet hat ja in Ihren closing Arguments behauptet das JPM den Hedgies gedroht haette unsaubere Tradings der Hedgies bekanntzugeben und sie damit strafrechtlichen Klagen und oeffentlichen Ruin auszusetzten, wenn diese nicht helfen wuerden die Estate Kohle unterzubewerten. Habe leider von Bet die Argumentation , wie Sie darauf kommt, noch nicht gelesen.gelesen. Sind halt viele Docs. Na ja, da kommen jetzt noch ein paar Seiten
lg
http://www.geishababy.com/WaMu/Default.aspx?ShortDate=8/15/2011
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Bei dem %-Anteil an Wamu Posts an manchen Tagen kann der Tread auch danach weitergehen, würde kaum auffallen.
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