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

Besugo no queda mucho para salir de dudas así que mejor conservar la energía para cuando ocurra lo que sea. ¿que tal con tus H? o ya te saliste...

We don't know what it is worth, but we do know that without a doubt, WMI owns it. See
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=8055564.PN.&OS=PN/8055564&RS=PN/8055564

It seems that this technology would be invaluable to the the worldwide banking industry. See
http://www.bizjournals.com/seattle/blog/2011/11/wamu-issued-patent-3-years-after-failure.html

We need to ask ourselves what would have happened if the plan had been confirmed last year. Well, on 11/29/10 WMI obtained the patent application from the inventors and that was not made public in the confirmation hearings, so we must assume that whatever the application was worth it would have been hidden in the assets the SNs would have acquired. The announcement of the patent grant must have been inconvenient for someone because I expect the licensing fees for this technology would be significant. (For example, if licensed to the top 100 banks worldwide for even $12.5MM each annually, that would be $1.25B in licensing fees.)

I find it hard to believe Dimon didn't know about this wonderful technology from the time of the seizure. Maybe he couldn't contrive to get the patent application assigned to Chase. I just hope there is not some dirty deal to transfer this property to JPM.

This is either a totally “done” deal or Walrath is ruling that DIMEQ is class 12, making equity more valuable. I will not even go into what that also means other than to say this will break the “fair and reasonable”, thus destroying the Global Settlement and then you will see the Susman Team make a filing, that due to new evidence, the EC can no longer support the plan. This means that what Rosie, WMI Board of Directors and others did by illegally transferring DIMEQ/Anchor litigation/assets to JPM is going to come back and haunt the CRIMINALS for leaving WMI with the liabilities.

There is malpractice by Weasel/Gotcha/Mangle and so much more here that I will not go into but you can bet the CRIMINALS or your bosses know. If Walrath wants to bring on TOTAL legal morass by making DIMEQ Equity, then Art will file a Writ of Mandamus along with TPS getting this whole parade of crimes exposed worldwide. Now ALL of you BASHERS sleep well because “IT IS COMING” and it will not be pretty for those on the WRONG side of this mutiple crime ridden saga!.
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Análisis de DIMEQ:

First, on pg 57/282 of the DS, the footnote:

"The Debtors’ Updated Liquidation Analysis assumes no Litigation Proceeds and an ultimate aggregate total of
$375 million for Allowed General Unsecured Claims upon final determination of all Disputed Claims."

This $375 amount does not include the reserve for the Dime. When looking at claims for the determination of General Unsecured Claims the Debtors see:
1. claims that are or will be allowed and
2. claims that are disputed.
The Dime reserve is as of now still a claim that is disputed and not an "allowed claim". That will happen only if the judge rules it this way this coming Tuesday, the ruling we're waiting for.

The $375 million is also listed in the waterfall pg 280/282 of the DS under General Unsecured Claims. It's always been listed in all of the Liquidation Analysis waterfalls that we've seen before.

The total claims included disputed claims are actually $850.0 million. This includes the amount that is in the Dime reserve. It also includes the $375M mentioned above and some other claims. Out of all of this claims of $850M, the Debtor reserved in the waterfall only what "they" think it will be allowed and won't have to pay the others (the $375M for some claims, nothing for Dime).

Here is where the $850M is in the DS pg 121/282 at bottom:

"The current estimate of the total Allowed General Unsecured Claims and disputed General Unsecured Claims is approximately $850.0 million."

Now look at the July 14, 2011, hearing transcript for conversation between Steinberg and Goulding.
Starting at pg 116/201 line 15 and down.
Here are some parts of that:

"A. A significant portion, obviously, are FDIC, JPMorgan claims. I think we think that the total allowed and disputed claims, as of the effective date, will be some number like 850 million.
Q. Okay, so the -- and of that 850 million dollars, 337 million dollars is reparable to my client, right?
A. That's correct."

"A. Well, as you can see from the liquidation analysis that we've put forward, we assume that the ultimate allowed amount is about 375 million."

"Q. Okay, so you still have that amount to work -- if it's fifty million today, and you think it ultimately will resolve to 375, then this 850 million dollar mass will ultimately, you believe, in your best estimate, settle down to a 375 number, and either the liquidation trust or a Chapter 7 trustee will have to slog through that effort, right?
A. That's right."

Here is the link for the transcript if you don't have it. Click on Key Documents up on top by "debtorMatrix", then Hearing Transcripts and find the one for 2011.07.14-Hearing Transcript:
http://chapter11.epiqsystems.com/WAM/Project/default.aspx

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Thanks very much for you Detailed Analysis and for posting it here for the benefit of all of us.

It sure looks like the Debtors haven't reserved any substantial amount towards the $337M DIMEQ claims and now looks like The Judge's 'Look the Other Way' MO, as far as the Debtors/Rosen's omissions & commissions, is going to finally catch up with her.

Judge Walrath is gonna have BIG problems whether she rules DIMEQ to be Class 12 or to be Equity.

Class 1 (Priority Non-Tax Claims)
Class 2 (Senior Notes Claims)
Class 3 (Senior Subordinated Notes Claims)
Class 4 (WMI Medical Plan Claims)
Class 5 (JPMC Rabbi Trust/Policy Claims)
Class 6 (Other Benefit Plan Claims)
Class 7 (Qualified Plan Claims)
Class 8 (WMB Vendor Claims)
Class 9 (Visa Claims)
Class 10 (Bond Claims)
Class 11 (WMI Vendor Claims)
Class 12 (General Unsecured Claims)
Class 12A (Late-Filed Claims)
Class 13 (Convenience Claims)
Class 14 (CCB-1 Guarantees Claims)
Class 15 (CCB-2 Guarantees Claims)
Class 16 (PIERS Claims)
Class 17A (WMB Senior Notes Claims)
Class 17B (WMB Subordinated Notes Claims)
Class 18 (Subordinated Claims)
Class 19 (REIT Series)
Class 20 (Preferred Equity Interests)
Class 21 (Dime Warrants)
Class 22 (Common Equity Interests)

Lo suyo es que Walrath pusiera DIME en Clase 12.

January 3, 2012

Via [First-Class Mail] [Certified Mail, Return Receipt Requested] [Federal Express] [DHL]

Hon. Gregory M. Sleet, Chief Judge
United States District Court, District of Delaware
J. Caleb Boggs Federal Building
844 N. King Street, Room 4324, Unit 19
Wilmington, DE 19801-3569

Re: In re Washington Mutual, Inc. et al. (“WMI”), Case No. 08-12229 (MFW)

The Official Committee of Equity Holders of Washington Mutual, Inc. (“EC”), Appellants v. Washington Mutual, Inc. et al., Appellees (1:11-cv-00158-GMS) (“EC Appeal”)

Black Horse Capital, L.P., et al., Appellants v. JP Morgan Chase Bank, N.A., et al., Appellees (1:11-cv-00124-GMS) (“TPS Appeal”)

Dear Judge Sleet:

I am a WMI shareholder and am writing to request: (1) expedited adjudication of the two (2) above-referenced appeals that have been filed with your court; (2) consolidation of the above-referenced appeals; and (3) a stay of confirmation of the above-referenced Chapter 11 case. This letter is not an ex parte communication as I am not a party to either appeal and I am not writing to discuss the merits of either appeal.

Notwithstanding that both appeals have been timely filed, they are in grave danger of equitable mootness through confirmation of a plan of reorganization (currently scheduled for February 29, 2012) that would (1) eliminate the estate’s recourse against third parties, and (2) impose $4,000,000,000 in obligations on the WMI bankruptcy estate, thereby diminishing or eliminating my financial recovery. If either appeal were successful the plan (as written) could not be confirmed.

Upon information and belief, briefing for the TPS Appeal was completed on May 16, 2011. Oral argument has not been scheduled for the TPS Appeal.

I am not affiliated with either appellant and am not writing to you under any directive or suggestion of either appellant. I am writing to you because I have a very strong interest in having both appeals adjudicated prior to confirmation. Although I am unaffiliated with the EC feel I have standing to assert that my due process rights would be impaired by the equitable mooting of its appeal, an appeal which, if successful, would allow the EC to pursue billions of dollars in claims. Moreover, since the EC appeal was filed the Stern v. Marshall decision has raised the constitutional stakes for the EC Appeal as now there is a question whether Judge Walrath can compromise claims over which she lacks subject matter jurisdiction. If she does not have jurisdiction to compromise such claims and the plan is confirmed there will be no way of redressing the error as the EC’s appeal will have been mooted.

In a similar vein, if the TPS Appeal is equitably mooted I will have been deprived of the chance of having nearly $4,000,000,000 in claims removed from a bankruptcy estate that has very limited resources for its creditors and shareholders.

Independent of my self-interest I also believe that there is a very strong public interest in having these appeals adjudicated prior to confirmation and on an expedited basis. The public interest is not served where, as in the case of the instant appeals, there is a backlog of two to three years for bankruptcy appeals. Nothing in the constitution allows Article III courts to permit bankruptcy appeals to them be equitably mooted because of their administrative backlogs. On the contrary, if I'm correct that the constitution requires the appeals to be decided before WMI confirms a plan of reorganization, and if the only way to prevent the appeal from being equitably mooted were for U.S. Supreme Court Chief Justice John Roberts to sit as a District Court judge in Delaware and hear the appeal, notwithstanding his status, he would be required to do so. It is an 'extreme' example, but the constitution is an extreme document.

I know of no legal authority that would prevent Judge Walrath from confirming a plan that would equitably moot both appeals. She can, however, be prevented from confirming a plan by a higher court, and I respectfully request that you stay confirmation in WMI’s Chapter 11 case until you have adjudicated both the appeals.

Respectfully,

[Signature]
[Name]
[Address]

¿A que esperan los del EC a lanzar el escrito a los accionistas?
Se os siguen derrumbando las preferentes, a este paso no va a quedar ni la calderilla.

Las DIMEQ al hoyo. Pierden Hoy un 88% cayendo hasta 0.08 vaya palo.
Cual seran las próximas en caer?

El fallo contra DIME las ha destrozado, por contra las H´s estan recuperando. Si el POR 7 queda enterrado, las H´s volarán aun mas.
Las preferentes estan a la espera de saber si hay algo mas que lo que muestra el POR 7, mientras tanto se mantendran en niveles actuales El EC esta defraudando a la equidad, tal como dije si M.W. se ha vendido a los debtors les dejaran en la estacada con unas valoraciones muy pobres. Estoy con H´s y P´s.