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JPMorgan $4.5 billion RMBS Settlement Update – What’s Next?

On Friday August 12, 2016, Honorable Marcy S. Friedman, Supreme Court Justice of the State of New York, ruled against the remaining objection to the JPMorgan $4.5 Billion RMBS Settlement.

So what’s next?

  • We believe that 8/12/2016 is now considered the “Final Court Approval Date.”

  • The “Effective Date” of the Settlement Agreement is contingent on the receipt of a private letter ruling by the IRS.

  • Then within 90 days from the “Effective Date” is the “Final Expert Calculation Date” when the Expert shall calculate the final Allocable Shares for each Trust.

  • JPMorgan then deposits the Settlement Payout into a single escrow account within 30 days of the “Final Expert Calculation Date.”

  • The Trustees shall use their reasonable best efforts to distribute the Settlement Payment to the Settlement Trusts as promptly as possible.

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