Washington Mutual demanda a la FDIC por 17 billones US$ + daños

hasta el 1 de julio no falta tanto, ojala haya al menos 60 centimos para las comunes,con la angustia y el tiempo que llevamos ya no vendra de aqui.

Times are from the audio file
http://www.viewip.net/WMI/Hearing/2010-06-17/20100617_DE.mp3

0:33
Rosen:
We filed a second amended agenda last evening which referred to the Debtors' request with respect to the adjournment of the disclosure statement hearing. As we indicated in the agenda, based upon the good faith negotiations that are underway between the Debtors and the Equity Committee, with respect to modifications of the Chapter 11 Plan, we thought it was in everyone's best interest to adjourn the Disclosure Statement hearing until July 8 so that these negotiations could continue and to see if a resolution could be reached that would result in a modification to the Plan and a modification to the Disclosure Statement. As part of that the Equity Committee similarly agreed that it would adjourn its motion with respect to the appointment of an examiner and its corresponding discovery motions or applications that it had on file for 2004 requests of JP Morgan Chase, the FDIC, and with respect with discovery of the Debtors.

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16:00
Nelson:
Yesterday evening Mr. Rosen and I, on behalf of our respective constituencies, agreed to put off the disclosure statement and the examiner motion, and I thought all of the discovery issues, at this hearing because we are engaged in some good-faith negotiations here, with certainly no guarantee about the end result, but we are engaged in discussions. Suffice it to say, a lot of what Mr. Calamari said we don't necessarily agree with. We are engaged in good-faith discussions. We are trying very hard to resolve those on the discovery front but, for example, just a few days ago we got a proposed discovery order that was substantially similar to what the Debtors withdrew at the last hearing. So we're trying to work through those issues on the discovery front. We're also trying to talk about other issues as well. We're happy to get into it but I think its really premature, and I'm a little surprised, frankly, that this presentation went on so long about these because there are a lot of open issues with respect to the Equity Committee and the other objectors here. So we reserve all rights with respect to what Mr. Calamari said. We are hopeful - we share the hopefulness that we can work out many of these issues but there are serious and substantial issues that still remain among the parties.

17:50
Walrath:
Well should what... basically the Debtor should produce what the Debtor says it's willing to produce and I'll postpone until July 8 any dispute as to whether that's sufficient. Is that what we agree?

Nelson:
Yes, Your Honor.

Rosen:
Your Honor, if I could just elaborate on what both gentlemen said. We have in fact had three, not two, meet and confers, and we continue to talk about the terms of a global discovery process. By no means are we done with it, it is an ongoing discussion, and one of the aspects of it is, if in fact, there are things that people are not happy, or believe that we could have provided more, all rights are preserved for people to seek additional discovery. These are the things that we're continuing to talk about. We hope, and we expect, that we'll be able to come forward before you on the 8th with this global proposal, if not even submitting it on a certification. But I will say, Your Honor, even before that date we are prepared to make access to many people who've already filed objections, who have ? outstanding, including our agreement with the Equity Committee, including our agreement with the Trust Preferred Securities, access to the depository that Mr. Calamari was alluding to in his presentation. We are going to populate that, we believe it will be up and running by 6/30 and we will make sure that the people who have done, who have the NDAa with us, will have access to that so they can start the process. But by no means are we trying to preclude anything here and we'll be back before you to the extent that there are any outstanding issues.

19:25
Nelson:
And there has been... we've not gotten the bulk of what they discussed, but we are... we've gotten representations, we have no reason to believe that... we think they are going to be coming soon. We've said that we will take what we can get in the meantime and we are beginning our review of this.

Rosen:
The work product is a lot easier for us to provide for them now that the 502(d) order has been entered. It's a much smaller universe. The documents that are referenced on the boards over there, Your Honor, are extremely voluminous and it's not easy to download those, or upload those whatever the term is to this depository, and then gain access to it. Also there are so many subfolders and we are actually trying to provide limited access to the Equity Committee on some aspects which would not be available to other people, so it is a very difficult technological process as well as just the accumulation of all of the materials. But we do believe it will be by June 30th and if beforehand we will certainly give access to those people who have already... who are permitted to go into it.

20:25
Nelson:
Suffice it to say there are open issues, we're working on it, and we're hopeful that we can resolve as many of them as possible.

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35:50
Nelson:
Your Honor, it very well might go without saying that, given some of the discussions at the podium in the past few minutes, I just want to emphasize there is nothing imminent with respect to settlement. We are engaged in good-faith negotiations but it's not like we are... there's no way we're... we don't know what's going to happen. And one of the reasons we put off both of these motions is so that we did it without prejudice to timing and any of the other issues. Obviously I think we all reserve our rights on what were in those motions and I know with respect to the Equity Committee we feel strongly about that. But there is nothing imminent.

Walrath:
All right.

Rosen:
That's correct, Your Honor.

¿te lees lo que escribes?

With DS being delayed to July 8...How is the WMI's chance the meet the deadline set in the GSA?

WMI needs to have a confirmed plan by the end of August...Delay is our friend in this case...

La Juez dijo que si el nuevo POR o DS se incluye despues del 1 de Julio no será considerado en el Hearing del 8 de Julio así que van a tener que darnos una pista antes de ese día de lo que traman

no lo hago. tratare de escribir mejor es que toy con el trabajo liado y aunque el contenido es lo importante me esforzare en el continente(supongo que te refieres a los errores tipograficos ausencia o repeticion de preposiciones ,conjunciones etc,signos de puntuacion etc)

si hay pasta para las comunes escribire una oda relacionando a todos los pesos pesados del foro.

que valoracion haces del dia de hoy ptolomeo???

me refiero a decir que la jueza es una hija de puta, una prevaricadora, una ladrona,etc, etc, etc...

mi valoración creo que no va ser de tu gusto así que me la ahorro.

en líneas generales pienso como Venerando.

Ya sabeis que existe la convencion segun la cual los altos cargos judiciales y de la administracion del estado y de la justicia deben tener sueldos elevados para que no existan incentivos a poner el cazo,parte del modelo frances en contraposicion del frances en contraposicion del americano justicia es la manera de proteger al individuo del estado y no al reves.

en españa sabemos lo que ganan mas o menos los altos magistrados seria interesante saber lo que gana walrath en el sentido de que nanocentesima latrocida de la equidad equivale a su salario anual para calcular la curva de la decencia.

buenas noches

Yo sintiendo ir en contra del Nostradamus del hilo ya que va en contra de mis intereses voy a apoyar la prediccion de Davini de 0.40 para final de junio, no se si le pasa la información el Oráculo de Delfos o un oficial de la corte de Delaware pero creo que a todos nos da lo mismo mientras suba el valor de todas las acciones.
Davini cuando vendas dilo no hagas como en marzo que nos dejaste a todos con el culo al aire.