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Futurecyborg 20/05/10 02:15
Ha respondido al tema Washington Mutual demanda a la FDIC por 17 billones US$ + daños
Motion to Shorten //Emergency Motion to Shorten Notice and Schedule Hearing on the The Official Committee of Equity Security Holders' Petition, Pursuant to 11 U.S.C. Section 105(a), 28 U.S.C. Section 158(d)(2), and Fed. R. Bankr. P. 8001(f), for Certification of Direct Appeal to the United States Court of Appeals for the Third Circuit of Its Appeal from Order Denying Appointment of an Examiner (related document(s) 3929) Filed by Official Committee of Equity Holders. (Bowden, William) (Entered: 05/19/2010) Certification of Direct Appeal to Court of Appeals //The Official Committee of Equity Security Holders' Petition, Pursuant to 11 U.S.C. Section 105(a), 28 U.S.C. Section 158(d)(2), and Fed. R. Bankr. P. 8001(f), for Certification of Direct Appeal to the United States Court of Appeals for the Third Circuit of Its Appeal from Order Denying Appointment of an Examiner (related document(s) 3924) Filed by Official Committee of Equity Holders. (Bowden, William) (Entered: 05/19/2010)
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Futurecyborg 20/05/10 02:13
Ha respondido al tema Washington Mutual demanda a la FDIC por 17 billones US$ + daños
No document yet, but this hit PACER earlier: "Notice of Appeal Regarding Order Denying Motion and Supporting Memorandum of the Official Committee of Equity Security Holders for the Appointment of an Examiner. Fee Amount $255. (related document(s) 3663) Filed by Official Committee of Equity Holders. Appellant Designation due by 06/2/2010. (Bowden, William) (Entered: 05/19/2010)"
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Futurecyborg 19/05/10 23:31
Ha respondido al tema Washington Mutual demanda a la FDIC por 17 billones US$ + daños
J.P. Morgan Chase & Co. is abandoning its demand for a $1.4 billion tax break in exchange for a bigger upfront share of a Washington Mutual Inc. bankruptcy settlement, according to people close to the situation. Ever since Washington Mutual was seized by regulators in September 2008, J.P. Morgan, the Federal Deposit Insurance Corp. and Washington Mutual's bankrupt parent company have been tussling over billions in deposits, pension benefits and tax refunds tied to Washington Mutual. J.P. Morgan paid $1.9 billion for the thrift's banking assets and deposits. J.P. Morgan hopes that its concession may break the stalemate and bring the parties closer to an agreement, which could happen as early as this week. The proposal would deliver as much $6.4 billion in Washington Mutual assets to the New York bank, up from about $6.1 billion under a prior proposal. What it agreed to give up for the sweetened settlement proposal, people familiar with the situation said, is the potential for as much as $1.4 billion in federal tax refunds made possible by a provision in the 2009 economic-stimulus bill. This proposal, however, doesn't have the approval of certain parties involved in the Washington Mutual case, including the FDIC and bank bondholders. The FDIC told a U.S. Bankruptcy Court judge Wednesday that the new terms "positively address the concerns" of the FDIC receiver. J.P. Morgan declined to comment. The 2009 stimulus bill allowed companies to apply losses from 2008 and 2009 against any taxes paid in the previous five years. Washington Mutual was eligible for as much as $2.8 billion under the law. J.P. Morgan originally said it should be allowed to claim all refunds because it had agreed to purchase Washington Mutual's assets. But the bill specifically excluded any companies that received bank-bailout aid from getting the tax refunds. J.P. Morgan received $25 billion in 2008. The Wall Street bank had argued to other parties in the case that the bailout ban wouldn't apply because Washington Mutual, and not J.P. Morgan, was the taxpayer. The bank also argued the refund wouldn't go to the bank directly, instead it would be held by the FDIC in receivership and J.P. Morgan could access the funds if sued over Washington Mutual-related issues. Washington Mutual bank bondholders and the FDIC balked at J.P. Morgan's potential stimulus benefit. If the latest proposal is approved, J.P. Morgan wouldn't be able to tap the FDIC receiver for refund money in the event of a lawsuit. But it would get about $300 million more from a separate pool of refunds originally reserved for creditors and not tied to the 2009 stimulus bill, giving it a total of $6.4 billion in Washington Mutual assets. Also, J.P. Morgan still has the ability to ask the corporate arm of the FDIC to cover as much as $500 million in future legal claims, according to the original Washington Mutual purchase agreement. —Scott Thurm contributed to this article.
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Futurecyborg 19/05/10 23:27
Ha respondido al tema Washington Mutual demanda a la FDIC por 17 billones US$ + daños
J.P. Morgan Chase & Co. is abandoning its demand for a $1.4 billion tax break in exchange for a bigger upfront share of a Washington Mutual Inc. bankruptcy settlement, according to people close to the situation. Ever since Washington Mutual was seized by regulators in September 2008, J.P. Morgan, the Federal Deposit Insurance Corp. and Washington Mutual's bankrupt parent company have been tussling over billions in deposits, pension benefits and tax refunds tied to Washington Mutual. J.P. Morgan paid $1.9 billion for the thrift's banking assets and deposits.
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Futurecyborg 19/05/10 16:36
Ha respondido al tema Washington Mutual demanda a la FDIC por 17 billones US$ + daños
Hoy a las 9.00 AM vencia el plazo dado por THJMW para que Rosen presentase objeciones al "Order Shortening the Time to Consider Motion of the Consortium of Trust Preferred Security Holders to Compel Debtors to Produce Documents" http://www.kccllc.net/documents/0812229/0812229100518000000000012.pdf y de momento por los foros USA no veo ningun documento presentado al respecto,alguien tiene noticias de que Rosen haya presentado dicha objecion?? gracias de antemano Saludos
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Futurecyborg 19/05/10 02:19
Ha respondido al tema Washington Mutual demanda a la FDIC por 17 billones US$ + daños
Bueno,el EC tambien se quejo de la poca informacion que le estaba facilitando WMI/Rosen,esta queja esta incluida en la objecion al POR presentada por el equipo de Susman,venia a decir que no le habian facilitado toda la informacion que precisaban,pedian informacion sobre las Trust Preferred,sobre posibles acuerdos entre WMI con JPM y FDIC para el reparto del NOL y un monton de informes mas,y se quejaban de que solo les han remitido un pequeño porcentaje de toda la informacion solicitada,que le llegaba sesgada,mal y tarde. Saludos
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