Re: Clare abuse
For what it's worth (not much), I think this could be a strategy to coincide with weil's citing of wachtel. They obviously fail on three of the four prongs (especially the one where it says the case is not the same as a corp and it's shareholders).
The only prong they can appeal to is if the debtors and the EC are legal adversaries. If the EC claims work product/att. client priv., it supports weil's work product denial. If they can depose statements, they may be able to twist them as adverserial legally and satisfy wachtel.
The best thing to do is to appeal to judge Walrath that this wastes the estates resources with NO potential gain from the depositions. Waste of time and money!
Maybe the debtors should spend resources on deposing those who could maximize the estates value (JPM and FDIC as THJMW said).
Will WMI investors who bought bonds at .000008 be getting deposed too? I also wonder if WMB bondholders will get deposed and asked why they haven't sold above 100%/par and gone on their way? I've only been in this a few months but I can't see trying to paint people who took a calculated risk nearly a year and a half before me as vultures but if that's what WMI wants to do then it has to be a 2 way street.