#4465
#4466
Semana decisiva o no - Relax "Wait and see"
In anticipation of the new soft bashing techniques coming online as soon as the Summary Judgment comes down on WMI's side along with the Tax Returns, i have compiled the following. Mark my words you will see bashers using "Deadline for Filing of the Plan is coming soon" or "Assets exceed Liabilities equity holders are screwed". It is for the new guys that i thought I would post this little piece of information.
THJMW WILL NOT issue an order with the effect of tossing WMI out of BK status if Assets exceed Liabilities rather she will approve the plan of the Debtor or EC that provides for adversarial litigation to be summed up by the Debtor (WMI) before exit from BK status. I keep hearing the "deadline is this or the deadline is that" there is no deadline provided the judge decides that there is an ongoing judicial interest maintained by sustaining of the bankruptcy courts involvement with ongoing adversarial litigation. Specifically after confirmation of a proposed plan the Court maintains a presence in the administration of the BK Plan including oversight of adversarial proceedings:
Federal Rule of Bankruptcy Procedure 3020(d) provides that, “notwithstanding the entry of the order of confirmation, the court may issue any other order necessary to administer the estate.”
This authority would include the postconfirmation determination of objections to claims or adversary proceedings which must be resolved before a plan can be fully consummated. Sections 1106(a)(7) and 1107(a) of the Bankruptcy Code require a debtor in possession or a trustee to report on the progress made in implementing a plan after confirmation..
The above is is from a good primer on Chp 11 Bk administration:
http://www.filing-bankruptcy-form.com/ch...
All the crap i hear about time limits in BK court or assets exceed liabilities Preferreds get everything Commons get nothing is just fear mongering. There may be a policy in a particular jurisdiction due to local rules however local rules/policy can and will be overruled when the interest of justice is weighed in the balance. Litigation will be finished we will be made whole. JMHO
#4467
Mr. Simpson - Proyecto Facebook
#4468
Re: Washington Mutual demanda a la FDIC por 17 billones US$ + daños
#4469
Re: Washington Mutual demanda a la FDIC por 17 billones US$ + daños
#4470
Re: Comienza una semana muy importante
Mi apuesta para el Hearing del 28 es que la jueza aprobara la formación del EC, pero tengo la sensación de que vamos a tener que seguir esperando para saber que decisión toma sobre los 4 billones, creo que esperara a tener constituido el EC y a que este le presente sus alegaciones en favor de su devolución.
#4471
Esta es nuestra semana :)
Los alemanes van poco a poco abriendo el camino.
#4472