España
Aquí estamos para dar información a los que están dentro y estos señores todos los dias nos aportan noticias, informes, etc. Tu no aportas NADA!! La última vez saliste escaldado y esta no va a ser menos mientras yo esté aquí. VETE A TU CASA YA Y DEJANOS EN PAZ!! PLASTA DE TIO!!
Como ya le banean los moderadores los posts en Expansion ahora viene aqui a descargar su adrenalina.
Que quieres ahora majete ¿que te diga lo que va a ocurrir con tus acciones?
:) :) :) eres para tomar nota y estudiarte en la universidad.
http://www.kccllc.net/documents/0812229/0812229091221000000000001.pdf
Hay numerosísimas menciones de settlement y temas varios.
Haber si acaba pronto el proceso judicial porque con facturas como estas es mejor hacerse abogado mercantilista para hacerse millonario que tomar riesgos como nosotros en invertir en aciones de Wamu .
Salarios entre $500-$900 por hora. Es de autentico escandalo.
Los del gobierno USA no cobran eso ni de lejos y por eso las diferencias
profesionales.
Mucha suerte a todos hoy a ver si el gordo le alegra a alguien la navidad. Aunque tenemos nuestro gordo durmiente con estas acciones. Tenemos mejor % de probabilidades que 1/85000.
:) :) :)
Full name = Alvarez & Marsal Nov 2009 billing (restructuring advisors to WMI)
-- Initials = Akin Gump Nov 2009 billing (counsel to unsecured creditors committee)
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11/01/09 RAJ 0022 Review FTI analysis of financial issues; call with Akin/FTI teams re settlement issues
11/02/09 RAJ 0022 Meeting with Akin/FTI teams to prepare for talks with Debtors; review FTI analysis of financial issues re settlement
11/2/2009 Langencamp: Work on lAA/discovery language for JPMC negotiation.
11/2/2009 Maciel: reviewed term sheet and related analyses.
11/3/2009 Maciel: Meetings in NY on tax, negotiations, etc.
11/04/09 RAJ 0022 Review report on meeting with Debtors re settlement issues
11/4/2009 Kosturos: Review of tax issues and follow up. Claims review and follow up. Meeting with JPM to discuss negotiations.
11/4/2009 Goulding: Meeting With FTI/Akln; review and update of plan issues list; meeting with Weil to discuss current settlement talks and tax issues
11/6/2009 Goulding: Weekly call with FTI/Akin; Discussion with bondholders; review of settlement options; review and update of recovery scenarios
11/6/2009 Kosturos: Review of potential settlement term sheets and follow up....
11/7/2009 Goulding: Update of plan issues: review of potential settlement options;
11/8/2009 Kosturos: Review of potential term sheets and negotiation strategy.
11/08/09 PJG 0022 Conference call with committee professionals regarding status of negotiations and issues regarding Bondholder representation.
11/09/09 DPS 0022 Follow up and analysis with items relating to analysis of settlement/litigation scenarios
11/09/09 PJG 0012 Conference call FTI, Akin re valuation of claims and settlement issues.
11/10/2009 Kosturos: ...call with JPM re: negotiation status, internal meetings.
11/10/09 DPS 0022 Conference with D. Pouladian regarding research on releases (.2); follow up and review case regarding same
11/11/09 PJG 0022 Conference call re settlement issues - Weil, Quinn, FTI, Akin, A&M, Funds, F. Frank; conference call FTI and Akin re follow up re settlement issues; emails FTI and Akin re negotiation strategy with FDIC
11/11/09 DPS 0012 Work on claims analysis issues, including funded debt, setoff, releases
11/11/2009 Kosturos: Review of potential settlement term sheets and follow up. Review and follow up pertaining to adversary proceeding... Review of solvency analysis
11/11/09 RAJ 0022 Call with Debtors and creditors re structuring plan settlement strategy; follow-up call with FTI re settlement issues
11/11/09 DPS 0022 Discussion with representatives of WMI and creditors; follow up discussion with FTI and Akin teams; correspondence on settlement issues
11/12/09 RAJ 0022 Analyze issues of releases in connection with settlement; conference call with co-counsel re FDIC receivership and release issues; follow-up conference with P. Gurfein re settlement issues
11/12/09 DPS 0022 Conference regarding settlement issues and professionals' call agenda OAO; conference with P. Gurfein regarding release issue
11/12/09 BMR 0017 Conference call with P. Gurfein, T. Nelson, T. McTaggart, R. Johnson re FDIC and settlement logistics
11/13/09 RAJ 0022 Call with Akin/FTI teams re settlement strategy
11/13/09 DPS 0022 Review task list ; participate in call with FTI and Akin teams on settlement issues
11/16/09 RAJ 0022 Calls and emails with Debtors' counsel re settlement strategies; participate in portion of Committee professionals' call with Debtors re developments and strategy ; meeting with Debtors, Fried Frank re settlement structures
11/16/09 DPS 0022 Correspondence regarding negotiations/coordination; participate in call with Weil and A&M; conference with B. Rothschild regarding same; conference with A. Scruton regarding settlement; review settlement proposal and associated materials
11/16/09 Travel - Ground Transportation - WMI Plan Negotiations - Taxi fare to Weil Gotshal for meeting
11/16/09 PJG 0022 Attend meetings/negotiations with Bondholders, Weil, Akin, and FTI regarding plan negotiations
11/16/2009 Kosturos: Review and follow up pertaining to litigation issues. Discussions with FTI and Akin pertaining to potential settlements. Meeting with bondholders.
11/16/2009 Goulding: Discussions regarding settlement structure; discussions with FTl/Akin and various creditors on potential settlement proposals
11/16/2009 Carreon: Participate in weekly tax call. Participate in weekly Weil call. Discussions concerning the tax aspects of a potential settlement agreement...
11/17/2009 Carreon: Additional discussions concerning the tax aspects of a potential settlement agreement.
11/17/2009 Goulding: Ongoing settlement discussions; review of various recovery scenarios; meeting with the Creditors Committee
11/17/09 RAJ 0022 Analyze issues re releases to be provided with any possible settlement
11/18/09 BMR 0022 Research regarding third party releases in plan of reorganization; draft memorandum regarding third party releases in plan of reorganization
11/18/09 DPS 0022 Correspondence regarding settlement discussion; conference with B. Rothschild regarding research on releases
11/18/09 CWC 0017 Confer w/ R. Boller re tax issues and settlement update
11/18/2009 Goulding: ... discussion with Quinn Emanuel on various litigations; discussion on settlement structure and various motions on for 11/24 hearing
11/18/2009 Carreon: Various discussions with JMPC concerning the amount of anticipated refunds. Internal discussion regarding the next phase of the enfity simplification process and preliminary identification of entities to be rationalized. Discussions concerning the tax aspects of a potential settlement agreement.
11/18/09 HBJ 0018 Follow-up review of basis schedules; series of emails re negotiations.
11/19/09 FSH 0022 Communications w/Committee members re creditor involvement. TC B. Rosen re negotiations
11/19/09 DPS 0002 Correspondence on miscellaneous issues, FDIC, negotiations, subordination, scheduling of professionals call, and other matters
11/19/09 Meals - Business - WMI Plan Negotiations - Travel meal; P. Gurfein; Brooklyn National Deli
11/19/09 Meals - Business - WMI Plan Negotiations $56.45 - Travel meal; P. Gurfein; Bobby Van's Grill
11/19/2009 Goulding: Discussions on settlement structure and various motions on for 11/24 hearing;
11/19/2009 Carreon: Follow-up discussions concerning the 5-year carry back and the expected refund amount. Continued discussions concerning the tax aspects of a potential settlement agreement.
11/19/2009 Kosturos: Review of potential settlement term sheets and follow up... Review of FDIC legal positions.
11/20/2009 Goulding: ... claims discussion with FTl/Akin; discussion on various settlement scenarios;
11/20/2009 Kosturos: Call to discuss current term sheet Update meeting. Call with key creditors.
11/20/09 BMR 0022 Research regarding releases of third parties in plans of reorganization; draft memorandum regarding same
11/20/09 SWD 0002 Monitor developments re negotiations etc.
11/20/09 DPS 0022 Correspondence regarding professionals call; correspondence regarding status of negotiations and related matters
11/20/09 PJG 0022 Emails with F. Hodara regarding status of negotiations.
11/22/09 BMR 0022 Research regarding non-debtor releases in plan or reorganization
11/22/09 DPS 0022 Correspondence regarding settlement issues; conference with S. Simms and A. Scruton regarding settlement issues
11/23/2009 Goulding: Discussion regarding WMI Junior Sub Notes stipulation; discussions regarding outstanding litigation; discussions regarding settlement structure and settlement options;
11/23/09 BMR 0022 Draft and revise memorandum regarding non-debtor releases in plan of reorganization
11/23/09 FSH 0022 Communicate w/FTI, DPS re pending issues. Analyze issues raised by Committee member. Conf. call Committee member, DPS, S. Simms re same. TC S. Simms re negotiations
11/24/09 RAJ 0022 Analyze possible settlement strategies in connection with POR
11/25/09 RAJ 0022 Call with Debtors' professionals re overall case strategy and settlement discussions; analyze issues re releases to be provided to and from third parties
11/29/2009 Kosturos: Review of recovery analysis and potential term sheets.
11/30/2009 Kosturos: Settlement discussions and follow up. Review of term sheets.
11/30/2009 Goulding: Review of current settlement proposals and update of recovery analysis; call to discuss tax issues...
I spent this weekend listening to the court hearings and looking at the court motions. Thinking about this case on my ride home from work today, it all came to me. Here is my theory (In my humble opinion) which seems to make a lot of sense (I believe) and hopefully is correct.
1. Weil has negotiated a global settlement which DOES include a recovery for commons and the settlement is imminent. It will likely be a very good settlement for commons (High single digits) but not a great one (Double digits). It is a settlement which will make Weil look good and the Judge will be happy to approve.
2. The trustee is rushing with the EC not because the commons will otherwise be wiped out in a settlement but in order to CYA (Cover his ass). The Trustee has knowledge the settlement is coming and is worried that since it is not a great settlement, he may have legal exposure for not having created an equity committee prior to settlement and his office could be sued later for failure to perform his fiduciary duties as the argument will be the equity committee could have gotten more money in settlement.
3. The battle in court between the Trustee and Rosen could be over whether the EC is necessary in order to settle the case. Weil would be opposed to it since if a settlement is in place, an EC of the largest shareholders could easily screw it up. It is one thing for retail to fight settlement of an extra $1 or 2 but the biggest holders with millions of shares could really throw a wrench in any deal. Weil's position is at this moment we need billions to get to commons so no EC however if we settle and Judge approves as fair, we are done. I feel Rosen's statement in court was almost to convince the Trustee that there is 7 Billion until we reach equity so if we suddenly settle there is no liability on your part for not approving an EC, so don't bring it.
4. I also believe the above scenario on the EC is more realistic than the Trustee is rushing the EC to save the commons from being shutout of settlement. The case has come too far at this point for the Judge to approve anything that wipes out the commons. She has shown from this case and decisions on others we have seen to be very fair minded. After the allegations in the adversary complaints, the 2004 motion and the recently filed 3rd party 2004 motion, there is no way she will allow the commons to be wiped out unless she is satisfied there is no action against FDIC and JPM. Forgetting about the MOR and NOL for a minute, the allegation against FDIC and JPM could be worth billions. 1 week ago WMI filed the 3rd party 2004 request with numerous documents which support wrongdoing. The Judge would never accept a settlement without commons unless it was argued that debtors have no case against against FDIC and JPM and since they just filed the motion, Weil can't turn around and say our discovery showed no case and therefore we need to settle with just the money on hand. Won't happen.
Bottom line is I believe the EC is to protect the Trustee and not to save the commons from extinction.
Respuesta:
I like some of the thinking, but....I dunno. Of course my legal knowledge is minute, so speaking strickly based on logic.
1) Really stretching on the limb there. No possible way of knowing what kind of settlement, if any, has been negotiated and what's included. (I know, magic 8-ball, obvious statement. Sorry).
2) Not saying it's wrong, but I don't believe he has any knowledge of settlement. Weil wouldn't want to involve any outsiders in this, reason for their opposition. You are right about it being a CYA though. I think recent events made him realize there was something to this case, and settlement could be near. If it happened w/o him involved, he'd be in the doghouse for sure. Just don't think he was privy to settlement info.
3) There was NO BATTLE about the formation of a EC in the court. What happened in the courtroom was based on the turnover of the inverstors list. Rosen wasn't opposing the EC though. They are however, as you said, opposed to bringing in somebody who could mess up all the work they've put into settlement talks. I personally don't believe that Weil is concerned with UST's liability, JMO. The comment he made was just that, a comment.
4) At this point, since the UST has set the wheels in motion, I don't believe THJMW would approve a settlement proposal even if it DID include commons. You're exactly right, she doesn't make fast rulings without having all the pieces in place, and I don't think she'd leave a pending EC as a missing piece. I don't see a settlement until after the formation (or ruling against and appeals process, don't think it'll go that far) of the EC.
I just differ in the idea that the EC is for the UST b/c a settlement already includes commons
Hola,
estoy siguiendo este proceso desde la barrera, es como un culebrón...
Con facturas de 500USD/hora, ¿no se corre el riesgo de que el proceso se eternice?
Estoy haciendo de abogado del diablo, pero yo si estuviera cobrando 500USD intentaría alargar todo lo más posible... o al menos 'dentro de unos márgenes'...