www.kccllc.net/documents/0812229/0812229091125000000000003.pdf
October 2009 Akin Gump Strauss Hauer & Feld Billing
I went through this billing and pulled entries that mention "settlement", "settlement discussions", "negotiations", and nearby entries that seem related. These are pulled from various categories (but mainly 0022) and put in chronological order. Here are the relevant billing codes:
0017 = General Adversary Proceedings
0018 = Tax Issues
0022 = Plan, Disclosure Statement and Plan Related Documentation
There are some very suggestive entries on this billing, including some that list most or all of the major players. For example:
10/25/09 "Conference call FTI and Akin re settlement issues and discussions among Bondholders group, FDIC, and JPM."
10/30/09 "meet and confer with JPMC, FDIC, WMI, WMB bondholders"
Here is the complete list:
10/05/09 PJG 0022
Conference call... re FDIC and WMB Bondholder discussions.
10/08/09 RAJ 0022
Analyze possible settlement scenarios.
10/09/09 HBJ 0018
Review proposed waterfall and taxes ... re impact of interposing WMB Bonds in waterfall analysis
10/13/09 FSH 0022
Work on issues raised by senior creditors.
10/13/09 PJG 0022
Review FTI presentations in preparation for Professionals meeting on settlement issues.
10/14109 FSH 0022
Preparation for meeting w/ FTI to analyze settlement concepts (.5). Attend same (3.0). Calls w/ numerous parties re concepts, rumors (.6).
10/14/09 RAJ 0022
Analyze settlement scenarios (0.7); meeting with FTI re settlement scenarios (2.8); emails re follow-up issues (0.3).
10/15/09 DPS 0017
Participate in conferences regarding potential settlement proposal with bondholders and internal team (1.0); correspondence regarding same
10/15/09 RAJ 0022 Participate in call re settlement discussions
10/15109 PJG 0022 Email F. Hodara memo re settlement discussions
10/16/09 FSH 0022
Work on concepts raised by JPM and new bond group (.5). Confer w/ Advisors re: same (.8). Memo to Committee (.4). Numerous communications wl Committee and advisors re developments (.2)
10/16/09 RAJ 0022
Confer with Akin, FTI, Pepper teams re settlement proposal negotiations (1.0); review and comment on draft NDA [non-disclosure agreement] (0.7); analyze possible settlement issues (0.8); call with Debtors' professionals re developments and strategy (0.9); follow-up call with Akin/FTI/Pepper re strategy (0.3).
10/16/09 DPS 0022
Professionals call (.9); follow up with committee professionals (.5); internal meeting regarding settlement (.3); work on confidentiality agreement (.2); conference with F. Hodara regarding same (.1).
10/16/09 PJG 0022
Conference call with Akin, FTI re settlement proposal and related issues and response.
10/16/09 PJG 0022
Professionals call FTI, Pepper, Akin, A&M, Quinn, Weil (.9); follow up Akin and FTI (.5).
10/16/09 RJB 0022
Call re: negotiations between WMI/WMB bondholders and FDIC.
10/16/09 SLN 0022
Conference with H. Jacobson, F. Hodara, and R. Johnson re: settlement.
10/17/09 RAJ 0022
Review and comment on new version of draft NDA [non-disclosure agreement].
10/20/09 DPS 0022
Review recovery analysis and related materials (.3); coordinate meetings
regarding settlement discussions (.2).
10/20/09 PJG 0022
Review FTI deck re settlement proposals.
10/21/09 FSH 0022
TC subordinated bondholder re developments (.1)
10/22/09 DPS 0022
Conference with FTI and Akin teams regarding settlement scenarios (1.5); review FTI analysis (.1); correspondence regarding same (.1).
10/23/09 RJB 0022
Email correspondence re: call with Debtor's counsel, equity committee, taxes (0.2, 0.2, 0.3).
10/23/09 DPS 0017
Correspondence regarding proposed settlement issues
10/24/09 DPS 0017
Correspondence regarding settlement issues (.2); discussion with Akin and FTI teams regarding same (.9).
10/24/09 RAJ 0022
conference call AkiniFTI re strategy and settlement discussions (0.9).
10/24/09 FSH 002
Confer w/FTI, Akin team re settlement negotiations, WMI bond position.
10/24/09 PJG 0022
Emails among FTI and Akin re settlement proposals and negotiation strategies (.6); conference call FTI and Akin team re negotiations and settlement issues (1.1).
10/25/09 RAJ 0022
Emails re strategy and status of settlement discussions with various
interested constituencies.
10/25/09 PJG 0022
Conference call FTI and Akin re settlement issues and discussions among Bondholders group, FDIC, and JPM.
10/25109 RJB 0017
review summaries of proposed settlement of claims for Senior Notes and Senior Subordinated Notes claims
10/25/09 HBJ 0018
Email discussion re follow-up on meeting with various groups re settlement discussions.
10/26/09 RAJ 0022
Emails re developments in negotiations with all parties (0.7); review confidentiality issues (0.5).
10/26/09 PJG 0022
Review settlement topics raised by [redacted] (.7); emails F. Hodara re [redacted]
10/27/09 RAJ 0022
Analyze confidentiality issues with respect to settlement discussions (0.6); meeting with bondholders re status and strategy (2.3); confer with Debtors re case strategy (0.3).
10/28/09 DPS 0017
Conference with F. Hodara regarding settlement issues (.1); correspondence regarding litigation and mediation (.1).
10/30/09 RAJ 0017
meet and confer with JPMC, FDIC, WMI, WMB bondholders
An der Börse sind 2 mal 2 niemals 4, sondern 5 minus 1.
Man muß nur die Nerven haben, das minus 1 auszuhalten.