June 11, 2010: The hearing in Tacoma, Washington, regarding the shareholders' lawsuit to compel WMI to hold an annual shareholders' meeting, starts in about two and a half hours. This hearing is not actually on the lawsuit itself, but rather on related motions regarding the venue of the lawsuit. WMI filed a motion asking the court to (1) transfer the lawsuit to Delaware, (2) stay (halt) the lawsuit, or (3) dismiss the lawsuit. The two shareholders have made filings which ask the court to (1) remand (send back) the lawsuit to the Washington State court of original filing, or (2) transfer the lawsuit to Delaware bankruptcy court. Although both WMI's and the shareholders' filings have one request in common - to transfer the lawsuit to Delaware - the shareholders say that when they agreed to do that without the need for today's hearing, WMI refused, indicating that WMI's main objective is simply to delay. Any ruling today should concern the above possibilities and we do not expect a ruling today on the question of the annual shareholders' meeting itself. We will post an update later today after the hearing has concluded.
Also wird heute doch keine Entscheidung bezüglich HV kommen.