Followers | 202 |
Posts | 13855 |
Boards Moderated | 3 |
Alias Born | 10/26/2008 |
Sunday, December 10, 2017 8:05:00 AM
Also an August 01, 2012 8K filing that discusses this 75/25 issue Annex C which is after the 2/24/2012 court approved POR 7, and after the March 19, 2012 Effective Date. I will also put out what I witnessed/thought during the time-frame of January through February of year 2012.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000255/mm08-0112_8k.htm
Annex C
Annex C to the Agreement was revised to clarify that holders of Preferred Equity Interests and Common Equity Interests will be issued Liquidating Trust Interests in Tranche 6 on account of those interests when Tranche 2 through Tranche 5 Liquidating Trust Interests have been satisfied in full, and that the distribution to Tranche 6 will be shared 75% and 25% pro rata between claims on account of Preferred Equity Interests and Common Equity Interests, respectively.
Articles XXIII and XXV which provide that preferred and common will split all amounts after Class 18 is satisfied and place no limits on either Class 19 or 22.
________________________________________
***WaMu***Sunlight – The Best Disinfectant
There have been credible posters discussing whether the cap on former WaMu Preferred (WAMPQ-WAMKQ) is partially lifted until preferred are paid face value (divies are non-accumulative) with the remaining estate value going to former WaMu (WAMUQ) common shareholders who released. This or whether the 75/25 split remains intact from the beginning of any potential Tranche Six equity payout all the way through to the end. Here are some thoughts since this has been discussed.
I have always thought the math formula that we were advised of sometime in Dec/Jan of year 2011/2012 before the deadline to release which was around the first week of March 2012 was suspicious, similar to advance information of a pending merger of sorts. Why would they tell us in advance? My initial thoughts were always to avoid potential future litigation BUT maybe not? So here are some thoughts to ponder should former WaMu preferred get face value with no back divies due to non-accumulation of dividends.
• Willingham initially owned 200,000 former WaMu common at .20 per share
• Willingham was Chairman of the Equity Committee also part of WMILT at one time
• David Bonderman in early 2008 owned with his Chinese partners 8 billion in preferred
• Of the 8 billion in Preferred Bonderman’s share was 2 billion
• In May/Jun 2008 David Bonderman converted his WaMu preferred to common
• Bonderman in Jul/Aug dropped his return demands should WaMu ownership change
• Bonderman controlled over 40% of old WaMu common-A WaMu Board Member until 12/2008
• Dec to Jan of year 2011/2012 Equity was informed of the math formula concerning 75/25 split
• Two months of court Mediation ended 12/2011 with Susman/Willingham being elated
• The 75/25 split was for all monies coming into WMILT or recovered from 3rd party suits
• The deadline to exchange former WaMu with signed releases was around 3/2012 and there were extensions approved by the court
• Walrath refused TPS to enter Mediation in court approved 2 months of Mediation citing Equity represented by SG
• Only 2 people from Equity were allowed in Mediation - Edgar Sargent and Mike Willingham
• TPS refused to sign on to the plan which could have taken this case into litigation morass
• TPS was allowed court approved discovery on Equity/Susman in his Houston offices
• TPS did discovery on Equity around the third week of Jan/2012
• Shortly after TPS did discovery on Susman TPS got a “peek” behind the curtain
• ALL investors knew all former WaMu securities were to be CX any day in late Jan/Feb/2012
• Hundreds of millions of old WaMu common were being traded - knowingly to be cancelled
• Seemed like massive Insider Trading happening from point of TPS approved discovery forward
• Did TPS tell other Hedgies involved with this to purchase commons from what they learned
• If they did tell the other Hedgies involved, they too would have purchased tons of old commons
• They would have been purchasing old commons for the soon-to-be issued Escrow Shares
• If this goes down where ONLY Preferred get face value – This will be WRONG-bad faith
• SG/Willingham would have known the remainder of the estate would go to former old common
• They would have known this at the end of the 2 month Mediation which ended 12/2011
• The 75/25 BAIT coerced investors into Preferred over old common = intentional/bad faith
• Obviously, then TPS with a “peek” behind the curtain would have also known
• If 75/25 does not hold all the way through – Hire Legal Reps –
• Then PULL ALL trading records for ALL involved from Dec/2011 through Mid-February 2012
Recent COOP News
- Mr. Cooper Group Inc. to Present at the Barclays Global Financial Services Conference • Business Wire • 09/03/2024 09:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:17:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2024 08:31:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 08:09:25 PM
- Mr. Cooper Group Inc. Announces Pricing of Offering of $750 Million of Senior Notes • Business Wire • 07/29/2024 08:30:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/29/2024 08:24:31 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/26/2024 08:20:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/25/2024 11:00:12 AM
- FLAGSTAR BANK, N.A. ANNOUNCES SALE OF ITS MORTGAGE SERVICING BUSINESS • PR Newswire (US) • 07/25/2024 11:00:00 AM
- Mr. Cooper Group Reports Second Quarter 2024 Results and Announces Acquisition of Mortgage Operations From Flagstar • Business Wire • 07/25/2024 11:00:00 AM
- Mr. Cooper Group Inc. to Discuss Second Quarter 2024 Financial Results on July 25, 2024 • Business Wire • 07/11/2024 08:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:07:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:36:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:33:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:28:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:26:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:24:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:22:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:17:44 PM
- Xome Democratizes Real Estate with Launch of DIY Sales Platform, No Agent Required • Business Wire • 05/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:47:32 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/15/2024 12:11:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 12:12:48 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:22:09 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM