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

Approving the Proposed Disclosure Statement and the Form and Manner of the Notice of the Disclosure Statement Hearing, (II) Establishing Solicitation and Voting Procedures, (III)
Scheduling A Confirmation Hearing, and (IV) Establishing Notice and Objection Procedures for Confirmation of the Debtors' Joint Plan [Docket No. 3568] (the "Disclosure Statement Motion"), including the Sixth

Amended Disclosure Statement, will now be held before The
Honorable Mary F. Walrath at the Bankruptcy Court, 824 Market Street, 5th Floor, Courtroom 4, Wilmington, Delaware 19801 on October 18, 2010 at 10:00 a.m. (prevailing Eastern Time).

07 de octubre 2010: Ayer WMI presentado una nueva revisión de su Plan de Reorganización, incluyendo una versión modificada "Acuerdo Global de liquidación" y la Declaración Informativa. El único cambio significativo parece ser que WMI ha comprado el apoyo de algunos propietarios de Washington Mutual Bank (WMB) los bonos al aumentar su pago de $ 150 a $ 335 millones (una miseria en comparación con la obligación total de bonos de $ 6.1 mil millones). A pesar de lo que usted puede leer en los artículos de noticias acerca de este último Plan de Reorganización (tales como, "La participación de los tenedores de bonos del banco elimina un obstáculo importante en el caso y puede terminar una pelea de dos años más de WaMu se mantiene ", Wall Street Journal), no hay ninguna finalidad más de este Plan que cualquiera de los anteriores seis versiones. El examinador sigue siendo llevar a cabo su investigación y no parece probable que el juez apruebe una Declaración de Divulgación - y así permitir que el Plan de seguir adelante - antes de recibir el informe del examinador. WMI ha indicado que quiere programar una audiencia especial el 18 de octubre para el examen de la Declaración de Divulgación; podemos encontrar en la audiencia de mañana si el juez lo permite.

That sneaky Rosen!! He changed the percentage of the NOLS tax refund allocation by increasing WMI's portion but he didn't change the amount of the NOLS tax refund as approved in the IRS Settlement Agreement. That percentage would put a lot more cash into the Assets and pay off those PIERS ... which would be a dead issue as would all the Creditors.

Ooops .. your honor, we missed that!!

So ... Rosen, how do you bold face lie about how much cash is available to WMI even based on the tax give away numbers? Especially when the GOOD numbers are floating around in different documents... just no one in the media putting them together?

Anyone here who has had contact with some of the media ((like the Puget Sound BJ)) want to send this info and questions to them? Many of them were eager to report on JPM getting 80% of the FIRST (2008) tax refund and the fight over the NOLS refund. Would be great for them to point out that the Estate continues to get more of the NOLS tax refund each time Rosen writes his POR. But he's not calculating the numbers correctly. Maybe they can get answers on what is the correct numbers!! Might make the market take more notice if they see how much more the Assets are than Liabilities ... even at this point.

Excerpts from DS V6
http://www.kccllc.net/documents/0812229/...
doc pg 10; pdf pg 22

2. Allocation of the Tax Refunds.
a. The FIRST Portion. The amount of net Tax Refunds (including state and local income taxes) that are received, and would have been receivable absent the Act’s extension of the federal NOL carryback period will be allocated as follows: 20% of such refunds allocated to the Debtors and the remaining 80% of such refunds to JPMC. The Debtors currently estimate that the First Portion of the Tax Refunds will be approximately <<<<$2.7 to $3.0 billion>>>>, approximately $540 to $600 million of which would be allocated to the Debtors’ estates.

SO ... WHERE IS THAT FIRST TAX REFUND? The one that WMI paid on WMB's behalf??

b. The SECOND Portion. Any additional net Tax Refunds, attributable to the Act, will be allocated as follows: <<<<69.643% of such refunds will be allocated to WMI>>>> and 30.357% of such refunds will be allocated to the FDIC Receiver. Pursuant to the terms of the Plan, a certain portion ofWMI’s share of such refunds will be distributed to certain holders of WMB Senior Notes (the Senior Global Notes issued by WMB pursuant to the WMB Global Note Program).

The Debtors currently estimate that the Second Portion of the Tax Refunds will be approximately <<<<$2.8 billion, approximately $1.95 billion of which would be allocated to the Debtors’ estates>>>>, including any distribution that may be payable to those holders of WMB Senior Notes that elect to grant the releases provided in the Plan.

THIS is ODD because they just filed the MOR that stated the NOLS portion of the IRS Settlement Agreement is $4.6B. My math (I don't charge $900/hour to calculate the number and edit a POR) says that 69.643% of $4.6B is $3.2B.

My last question is WHY does the FDIC need to get any percentage of the NOLS funds if they have made a deal with the WMB bondholders for $335MM?? They have the $1.88B from JPM. Why didn't they just make the deal to pay them that amount rather than the measly $335MM?? So what happens to the remaining $1.5B from the original sale price?? Does that go to WMI??

Here's other verification links if someone wants to submit these questions to a reporter that just might want to report on this sham as it is.

DS V5: http://www.ghostofwamu.com/documents/08-...
doc pg 10; pdf pg 22 -- Tax Allocations

IRS Settlement Agreement: http://www.kccllc.net/documents/0812229/...
NOLS refund amount ~~ pg 10

Parece que las caidas iniciales han sido mas un traslado a preferentes.

Aqui el que no corre, vuela.

En el anterior POR todas las preferentes estaban al mismo nivel. Los listillos ahora han divido el grupo en preferentes A y B, en las A están las de TPS y en las B las nuestras. Las A cobran y las B practicamente nada. Así es la vida, el que no llora y patalea no mama de la leche de Rosen. Y el EC sigue mudo.

Saludos

Yo es lo que menos entiendo de todo esto a que se dedica mientras tanto el EC. Aquí todo el mundo saca tajada y los que más tienen que perder siguen sin decir nada.

El EC tiene tiempo hasta el dia 17 para presentar mociones.

Susman ya ha demostrado que se mueve cuando es necesario.

http://www.bizjournals.com/seattle/blog/2010/10/whats_left_for_wamu.html