BankUnited Financial Corporation (fka BKUNQ)

[monda2frida]

yup, yw

[jaxstraw]

Thanks for the confirmation. No great surprise though, there really never was a snowball's chance in hell with this one if folks just read the docs.

[monda2frida]

BKUNQ BankUnited Financial Corporation Class A Common Stock 3/13/2012 Plan of Bankruptcy Effective. Shares have been cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=03/12/2012&mkt_ctg=ALL

[casios01]

I lost also a lot on this one.
It's strange when someone bying another person try to put the price down by selling a few stocks.

[casios01]

there is a fool selling each time a few shares to let stay the share on 0,005.

[NORTH LAND]

I Loss on this Piece of Chit!

[MiamiGent]

BankUnited opts to remain independent
PROVIDED BY Reuters - 6:03 PM 01/18/2012

Jan 18 (Reuters) - BankUnited Inc (BKU) said it considered strategic alternatives, confirming media reports, but has now opted to stay independent.

The announcement from the Florida bank that went public last year, comes in light of media reports that its private equity owners -- that include Wilbur Ross' WL Ross & Co, Blackstone Group (BX) and Carlyle Group -- had put the bank on sale and had hired Goldman Sachs to run the process.

Earlier this week, Bloomberg reported that BB&T Corp (BBT) and Toronto-Dominion Bank (TD) were among the suitors in talks to acquire the bank.

BankUnited's (BKU) shares dropped 11 percent in trading after the bell. They earlier closed at $24.95 on Wednesday on the New York Stock Exchange. (Reporting by Brenton Cordeiro in Bangalore; Editing by Supriya Kurane)

[71stang]

[ErnieBilco]

Hey Jax, thanks for the info in the i-box. It is pretty clear since June that commons are toast ------ just a matter of when the toaster "pops".

[jaxstraw]

No need. I have posted link after link on this board showing just how underwater this company is and that it will be nearly impossible to find any buyer who is willing to take on

576,827,103 Total Liabilities
vs.
34,704,780 TOTAL ASSETS

As of the end of 10/31/2011 per the MOR
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8290605

Who's buying that ? lol.

[NORTH LAND]

YOU WANT ME TO HOLD YOUR HAND?

[jaxstraw]

Please post link.

[NORTH LAND]

BKUNQ REORGANIZATION JUDGE SAYS FIND BUYER!!!

[jaxstraw]

What buyout are you referencing? That 8k was an MOR for October.

[NORTH LAND]

This will FLY VERY soon

[NORTH LAND]

BKUNQ 34m Share Count!!!

[NORTH LAND]

I'm hearing this Buyout is a GO!

[71stang]

BKUNQ Form 8K filed
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8290605

[jaxstraw]

I'm truly amazed this is still trading in any fashion.

[elbowroom]

Action!

[elbowroom]

This will fly tomorrow!

[elbowroom]

Knight keeps raising the bid...somethings up!

[Bertsllc]

the written ruling will be issued within the next two weeks.
should be an 8-K filing

[elbowroom]

Whats next?

[DDHOUND]

.013x.037

[DDHOUND]

Holding up good with the selling. Pennies across the board slow today.

[nvidiaforgames]

Get your buddies in here for a chart play at least!

[gail]

ask .035, lets go!

[nvidiaforgames]

Gail bring your friends here :)

[JJZander]

no i don't, i don't have L2 today

[gail]

good buys at the ask so far

[nvidiaforgames]

wow that good. do you know what size?

[JJZander]

015

[nvidiaforgames]

what is it now?

[JJZander]

bid creeping up

[nvidiaforgames]

Ask getting slapped

[gail]

my L2 is not working at all today for some reason, ugh!

anyone here have amtd live chart or L2, having the same trouble? both are messed up.

[JJZander]

Im not at home so no L2 but yesterday L2 wasn't showing proper bids fwiw

[nvidiaforgames]

can you post a L2?

[JJZander]

bid is 013

[zetti]

whats up? NO BID???

[Imagine]

BKUNQ!need I say more?

[nvidiaforgames]

They probably took it off because the institutions wanted to load up on shares lol

[nvidiaforgames]

Yep, big buyout. That guy just missed his buying opp.

[Yeahbuddy]

Bankruptcy Court Announces Ruling for BankUnited Financial Corporation on Ownership of Tax Refunds



2:05 PM ET 10/20/11 | BusinessWire

BankUnited Financial Corporation, a Florida corporation and debtor-in-possession (the "Company"), announced that the United States Bankruptcy Court for the Southern District of Florida on October 19, 2011 announced a ruling in the Company's favor relating to the ownership of anticipated federal tax refunds in the estimated amount in excess of $45 million. United States Bankruptcy Judge Laurel M. Isicoff announced that she will issue a written decision and order granting the Company's motion for summary judgment and denying the cross motion for summary judgment filed by Federal Deposit Insurance Corporation as Receiver (the "FDIC-R') for the Company's failed bank subsidiary. The effect of the ruling is a determination that the Company's bankruptcy estate is the sole owner of the tax refunds, subject to the right of the FDIC to receive the first $7.5 million of the refund and assert a general unsecured claim against the estate of $45 million under a prior settlement agreement approved by the Court. The written ruling is expected to be issued within the next two weeks, and the FDIC is expected to appeal the decision.

This information set forth above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's current beliefs, plans and expectations. Words such as "expects," "may" or similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors.

SOURCE: BankUnited Financial Corporation
BankUnited
Joseph Luzinski, 305-374-2717
Chief Restructuring Officer

[jaxstraw]

8K - Oct 19 , 2011

Item 7.01 Regulation FD Disclosure.

On October 19, 2011, at a hearing before the United States Bankruptcy Court for the Southern District of Florida, BankUnited Financial Corporation, a Florida corporation and a debtor-in-possession (the “Company”), announced that its financial advisor, Structured Capital Solutions (“SCS”), has been diligently involved in soliciting expressions of interest from third parties in connection with an equity infusion transaction with the Company.

At the hearing, the Company announced that it had received initial indications of interest from two parties. Of the two, one was a publicly traded, Fortune 500 company (the “potential corporate counterparty”) and the second was a multi-national financial institution. Each of the parties conducted due diligence on the Company and participated in numerous in-depth discussions and meetings with the Company and its advisors relating to the structure and benefits of an equity infusion transaction.

The Company was recently advised that for internal reasons the potential corporate counterparty was discontinuing its evaluation and negotiation of a proposed equity infusion transaction. The cessation of discussions between the Company and the potential corporate counterparty occurred prior to the execution of a binding term sheet or definitive transaction documents.

With the Company’s support, SCS continues to engage potential counterparties for an equity infusion transaction. There can be no assurance, however, that the search will result in a transaction. The Company does not intend to comment further regarding the review process unless a specific transaction is approved by the Board of Directors, the process is formally concluded, or it is otherwise deemed that further disclosure is appropriate or required by law.

This information set forth above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company’s current beliefs, plans, and expectations as to its search for third parties to enter into an equity infusion transaction.

Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors, including, but not limited to, the risks and uncertainties of a search process, including whether any counterparty will be identified or, if identified, whether it will be pursued or consummated. There can be no assurance that the search will result in an equity infusion transaction or in any other transaction. The company undertakes no obligation to revise or update publicly any forward-looking statement for any reason, except as otherwise required by law.

The information in this Form 8-K shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

http://www.sec.gov/Archives/edgar/data/894490/000119312511274510/d245040d8k.htm

[DDHOUND]

That news is on my schwab account but cant find it anywhere else its from 8-k released Tuesday. Several Reuters releases on it now gone.