A Cornered Rosen = Bankruptcy Fraud?
In my opinion Rosen can not finish the POR without committing bankruptcy fraud. Rosen can claim anything that does not have any current value, does not have to be claimed in the current or revised POR. Even after all that Rosen has given away to JPM via the corrupt BOD’s, there is still much value involved with the subsidiaries. I do not see how Rosen can leave subsidiaries off the revised POR without committing bankruptcy fraud and jeopardizing his law firm/license. So this tells me there either has to be a very serious and large offer for a true “Global Settlement” or WMI will be opened up after May 26th. Then anybody can offer a reorganization plan, thus increasing the bidding and the assets would then have to be listed out in the wide open.
To get a better idea of the final outcome, I think one has to look at what do the criminals have to lose by losing exclusivity to an outside plan of reorganizations ideas. I think that since JPM had moles in the WMI hierarchy that tells me they had some on the board as well. Actions by these corrupt individuals tells me this must be true because the BOD’s signed off on Weil, Gotcha and Mangle’s “conflict of issues” with JPM. Now there is no way any reasonable person would have signed off on that unless they had much to gain. Then you have Rosen giving away the Estate’s money/property and that certainly would not happen unless the BOD’s were compromised. I do think if the BOD’s were worried about their own skin (such as jail time) for their managing of the company prior to seizure, this could also happen, but they would have no reason to give everything to JPM. All WMI would have to do is just sign off on not pursuing FDIC /Government claims.
I believe that Weil has made such a mess of this case is there is only one way for this to go at this time and that would be a sizable offer to make this all go away before losing priority to others. This would also open the BOD’s to potential criminal activity as well as opening this case wide open and at least getting a trial date. I think with all of the criminals involved and growing daily, this has to settle before May 26th or this will blow open and make Watergate look like a pimple on an elephant’s ass.