Queridos compañeros,
Acabo de recibir este e-mail de Joyce Pressnall.
Lo reproduzco entero, por si alguien no lo recibe.
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A filing was made today by Weil that requires prompt action by all shareholders. Weil thought they were going to pull a fast one by filing this and mailing it too late for shareholders to respond. You MUST mail this overnight today, so it reaches the court by May 13th. Do not put this off it is important.
Here is the filing they made
http://www.kccllc.net/documents/0812229/0812229100414000000000028.pdf
Here is the filing for the proposed plan they are talking about
http://www.kccllc.net/documents/0812229/0812229100423000000000006.pdf
ALL LETTERS MUST BE RECEIVED BY THE COURT NO LATER THAN MAY 13 2010. This means your letters will need to be sent overnight mail to the court. There is no time to delay. You also need to send copies of your letters to the various attorneys. I will list all addresses of where you need to send copies of your letters. SEE THE VERY END OF THIS EMAIL FOR A SAMPLE LETTER--it is 2 pages and you must mail both pages to all parties. You can copy it exactly, just be sure to use YOUR name and address
SEND ALL YOUR LETTERS DELIVERY CONFIRMATION AT THE POST OFFICE...YOU ONLY HAVE TO SEND THE ONE TO COURT OVERNIGHT MAIL
Here is where to send your letter to the court:
Honorable Judge Mary Walrath
Bankruptcy Court
824 North Market Street
5th Floor
Wilmington , DE 19801
Here is the info that is posted in this filing. You must do exactly as it says and mail copies to everyone on the list below. This is VERY important
Objections, if any, to approval of the Disclosure Statement must (a) be in writing; (b) be
in the English language; (c) state the name and address of the objecting party and the amount and nature of the claim or interest of such party; (d) state with particularity the basis and nature of any objection to the Disclosure Statement; and ( e) be filed, together with proof of service (see the sample letter for what this means) , with the Court and served so that they are actually received by the following parties no later than May 13,2010 at 4:00 p.m. (Eastern Time):
Here is who to send copies to ---you can send these regular mail but GET delivery confirmation from the post office (this is a very cheap way to make sure you can prove it was received and you can track it on line)
(i) Washington Mutual Inc, 925 Fourth Avenue, Seattle, Washington 98104 (Attn: Charles E.Smith, Esq.),
(ii) Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York 10153 (Attn:
Brian S. Rosen, Esq.),
(iii) Richards Layton & Finger P.A.,
One Rodney Square, 920 North King Street, Wilmington, Delaware 19899 (Attn: Mark D. Collins, Esq.),
(iv) Quinn Emanuel Urquhart & Sullivan, LLP, 55 Madison Avenue, 22nd Floor, New
York, New York 10010 (Attn: Peter Calamari, Esq.),
(v) the Office of the United States Trustee for the District of Delaware, 844 King Street, Suite
2207, Lockbox 35, Wilmington, Delaware 19899-0035 (Attn: Joseph McMahon, Esq.),
(vi) Akin Gump Stauss Hauer & Feld LLP, One Bryant Park, New York, New York 10036 (Attn: Fred S. Hodara, Esq.)
(vii) Pepper Hamilton LLP, Hercules Plaza Ste 5100, 1313 N.
Market Street, Wilmington, Delaware 19801 (Attn: David B. Stratton, Esq)
(viii) Ashby & Geddes, P.A., 500 Delaware Avenue, 8th Floor, P.O. Box 1150,
Wilmington, Delaware 19899 (Attn: William P. Bowden, Esq)
(ix) Sullivan & Cromwell LLP, 125 Broad Street, New York, New York, 10004 (Attn: Stacey R.
Friedman, Esq.)
(x) Landis Rath & Cobb LLP, 919 Market Street,
Suite 1800, P.O. Box 2087, Wilmington, Delaware 19899 (Attn: Adam G. Landis, Esq
Here is the letter you should send. PLEASE COPY IT EXACTLY. Please note there are 2 pages to send. After the letter you will find a "proof of service" page. Be sure to send that also
Don't forget to mail copies of the entire letter and proof of service to all of the attorney firms listed above. You can send that regular mail but get "delivery confirmation" from the post office so you can prove it was recieved.
******************************************************************************************************************************
1st page to send
Your name
` Street Address
City, State ZIP CODE
Honorable Judge Mary Walrath
Bankruptcy Court
824 North Market Street
5th Floor
Wilmington , DE 19801
Todays Date
Dear Judge Mary Walrath,
I hereby strongly object to the Joint Plan of Affiliated Debtors and the related proposed Disclosure Statement for the Joint Plan of Affiliated Debtors (the Disclosure Statement). Let me also point out to the court that the mailing of notice to the shareholders was so late in being sent, that many shareholders still have not received their copy of the letter instructing them of this requirement for objection as of May 11, 2010. One must wonder if this is a purposeful act in order to exclude any objection to the proposed Plan and Disclosure Statement. I do hope the court will consider this if any objections are not received timely.
I own Washington Mutual Stock in the following amounts:
WAMPQ (preferred): # of shares_____________________
WAMKQ (preferred) # of shares_____________________
WAMUQ (common) # of shares ______________________
I object on the basis that the Debtors have been selling WMI assets with blatant disregard for their true value, and that the proposed statement does not pursue the FDIC or JPMorgan for any of the damages that Washington Mutual is due. The debtors appear to be purposely giving away any remaining value of the company, current or future, simply in order to be done with this case quickly, with no regard as to the true value of its current assets or the future value of the lawsuits currently pending in Washington DC. The Debtors appear to be just giving everything to JPMorgan Chase, and receiving nothing in return. This begs the question "WHY?".
The Debtors are not upholding their fiduciary responsibility to maximize the value of the estate (Washington Mutual Inc.) at the expense of the shareholders, the proper owners of the company. In fact, the reverse is true. The Debtors appear to be motivated by something else as they are giving the entirety of assets, current and future, away for nothing in exchange.
This is not in keeping with the intent of the law, nor is it in keeping with any reasonable standard of ethics.
It has been widely noted that Weil, Gotshal and Manges do have some conflict of interest in this case, with regard to their other business relationships with JPMorgan Chase----so much so that the Board of Directors recently pointed that out in a filing that determined Quinn Emmanual would be handling more of the case in the future.
Neither Weil, Gotshal and Manges, or Quinn Emmanual are doing an efficient or proper job of maximizing the value of the estate, in fact they seem to be doing the reverse. They appear to be giving away any value that remains, for reasons unbeknownst to the owners of the company, the shareholders.
They have refused to provide information to the Equity Committee, as evidenced by a recent filing by Venable LLC (their filing for compensation). They are not cooperating with any requests for information that would allow shareholders to ascertain the true value of the company. This begs the question "WHY?"
The Board of Directors is obviously not working on our behalf, even though WE, the owners of the company pay their salary, and have for many years. The debtors attorneys are not doing their job either, they are not maximizing the value of the estate. One must question their motives.
I hope you see fit to stop this egregious miscarriage of justice. It has come to light in recent investigations that Washington Mutual Bank should not have been seized to begin with per John Reich, recent head of the OTS. Please do not let these people once again destroy what little the shareholders of this company have left. The shareholders of this company deserve to be treated fairly. Many of them have lost their retirements through this injustice. Please insure the Debtors be required to treat them fairly in the resolution of this Bankruptcy Case and Reorganization Plan.
Sincerely,
signature__________________________________date__________________
Printed Name
2nd page to send--proof of service--send this to the attorneys listed also
I, (your name), hereby certify that I caused, on (todays date) one copy of the foregoing document to be served upon the parties of the attached list by First Class US Mail.
_signature_________________________________________date_______________
Printed or Typed Name
(i) Washington Mutual Inc, 925 Fourth Avenue, Seattle, Washington 98104 (Attn: Charles E.Smith, Esq.),
(ii) Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York 10153 (Attn:
Brian S. Rosen, Esq.),
(iii) Richards Layton & Finger P.A.,
One Rodney Square, 920 North King Street, Wilmington, Delaware 19899 (Attn: Mark D. Collins, Esq.),
(iv) Quinn Emanuel Urquhart & Sullivan, LLP, 55 Madison Avenue, 22nd Floor, New
York, New York 10010 (Attn: Peter Calamari, Esq.),
(v) the Office of the United States Trustee for the District of Delaware, 844 King Street, Suite
2207, Lockbox 35, Wilmington, Delaware 19899-0035 (Attn: Joseph McMahon, Esq.),
(vi) Akin Gump Stauss Hauer & Feld LLP, One Bryant Park, New York, New York 10036 (Attn: Fred S. Hodara, Esq.)
(vii) Pepper Hamilton LLP, Hercules Plaza Ste 5100, 1313 N.
Market Street, Wilmington, Delaware 19801 (Attn: David B. Stratton, Esq)
(viii) Ashby & Geddes, P.A., 500 Delaware Avenue, 8th Floor, P.O. Box 1150,
Wilmington, Delaware 19899 (Attn: William P. Bowden, Esq)
(ix) Sullivan & Cromwell LLP, 125 Broad Street, New York, New York, 10004 (Attn: Stacey R.
Friedman, Esq.)
(x) Landis Rath & Cobb LLP, 919 Market Street,
Suite 1800, P.O. Box 2087, Wilmington, Delaware 19899 (Attn: Adam G. Landis, Esq
Thank you,
Joyce
España