Escrow shares, Escrow markers, Escrow CUSIPS?... Just a little Research and all IMHO...
We don't get paid for our escrow shares/markers...
We get paid for our Escrow position.
Your original Shares in WASHINGTON MUTUAL, INC., got you your escrow position.
(Your WMI shares)
You received escrow markers,
because you have an escrow position,
and because you elected to receive new company shares in WMIHC...
(Your WMIHC shares)
Everyone has an escrow position. but not everyone has escrow shares/markers.
What this means is,
Everyone has an escrow position, so everyone gets paid. (Section 41.5)
And, for some...
Because you have an escrow position... and you elected to receive new company shares,
You get paid and you also receive escrow markers for the new company shares that were in dispute.
(Section 41.6,)
The escrow markers have nothing to do with getting paid.
It's your escrow position that gets you paid.
So,
If you are still asking about Escrow shares/markers... then you don't understand the Escrow shares/markers...
This is for you.
But first...
let me pat myself on the back and give myself a, attaboy... because...
about 5 years ago... on March 18, 2018,
in my post number 513999,
I wrote...
Quote,
When the last 1.5 million shares in the Escrow account are distributed, the escrow markers will disappear.
End quote.
That was in early 2018
Then four years later, in early 2022...
On Feb 11, 2022, the last 1.5 million shares in the Escrow account were distributed... and the escrow markers were removed.
I'm not saying this was a prediction...
What I'm saying is many understood this back then...
and many know this now.
We don't get paid for our escrow shares/markers.
There's a big difference between escrow position and escrow shares/markers.
The Escrow markers/Escrow CUSIPS,
were established for the distribution of the 5,329,499 disputed Escrow shares of WMIHC new common stock, “that were in dispute”.
Which were placed in a Disputed Equity Escrow Account.
After several distributions...
On September 30, 2017, there were only 1.5 million shares remaining in the Disputed Equity Escrow account. (The escrow shares)
On Feb 11, 2022, the last 1.5 million shares were distributed... and the escrow markers were removed.
I hate to post this... because, it's been posted so many times...
I feel most everyone already understands this…
But, for those that don’t,
And to illustrate my point...
Here’s an excerpt from a press release dated, March 16, 2017 – WMI Liquidating Trust…
From the bottom of the press release, it reads…
Quote,
As stated above, the Escrow CUSIPS were established solely to facilitate potential distributions, if any, of shares of WMIHC common stock.
The only source of common stock available for any such a distribution would be from the 1.5 million of shares remaining on deposit in the Disputed Equity Escrow.
Specifically, the Escrow CUSIPS do not, in and of themselves, represent an entitlement to any possible future cash distributions from the Trust, WMIHC or the Federal Deposit Insurance Corporation (either in its corporate capacity or as the receiver for Washington Mutual Bank), as the case may be.
End quote.
So,
From this press release we know; we don't get paid for our escrow markers or Escrow CUSIPS.
It says we receive shares of WMIHC common stock from the Disputed Equity Escrow account.
and,
From others shared documents... we know...
The Disputed Equity Escrow Account contained,
2,109,051 shares for Preferred disputed claims and,
2,631,933 shares for common disputed claims,
For a total of 5,040,984 disputed shares…
(The liquidating Trust stated there were 5,329,499 disputed shares in the Escrow Account)
The Escrow markers were created specifically for the 5,329,499 disputed shares in reserve.
The escrow markers have nothing to do with getting paid, It's a share distribution.
The escrow markers were no longer needed, after the last 1.5 million shares in the Escrow account were distributed,
So, the Escrow markers were removed.
As a kind of visual...
Let's go into depth using the new company's share distribution...
And,
let’s backtrack through the liquidating Trust Quarterly summary reports
Using the wording and numbers in the: Disputed Claims Reserve and the: Disputed Equity Escrow documents.
(I know,
This post is getting long... so for those who are serious... take a break and come back...)
Continued on next post...
We don't get paid for our escrow shares/markers...
We get paid for our Escrow position... Everyone has an escrow position.
All IMHO…
Have a Merry Christmas and happy new year
Stay safe… Stay healthy
and GLTA.
Jiminy…
Jiminy Christmas…
