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Thats why both WMILT and PALADIN are using the same contact number.Feel free to call that number with any questions you may have as you joined late in the game.
The fact is you do not have timely signed releases and your actions are very telling. You should be ashamed of yourself as you are really showing how little you know about this 14-year case.
The more you work this case the more obvious your nefarious actions become!
CHEERS
xxx
Escrows represented the right to receive liquidating trust interests for beneficiaries and those interests were transferred thru certain vehicles for which trust was not consent to disclose the information.Those assets were transferred and escrows were deleted.
Point is escrows/releases are worthless.
Posting the same nonsensical info daily will not change that fact.
So sorry...................
Of course, I loved my Escrow ShareMarkers because if I did not have timely signed releases I would not have received my beloved Escrow ShareMarkers and now that we are almost ready for Safe Harbor BK Remote asset distributions, I really love my timely signed releases!
So sorry you missed the important part!
Xxx
Really soon I hope!! Good catch!! Thanks for sharing!! Gltu
Short memory.................
"Have I told you lately how much more I really love my Escrow Share Markers which continues to grow immensely every single day forward?"
Naivety innit..................
Why same contact number is being used by WMILT and PALADIN?.When will my W-9 info will be used?.
Lodas, you purposely learn nothing on purpose. Safe Harbor, BK Remote Assets have nothing to do with the bk cases themselves.
These cases are completely separate although the ownership change on 3/19/2012 with timely signed releases controls entire ownership whether Safe Harbor or not…apples and oranges, however you know this too.
Xxx
mypenneys, you are welcome. Hang in there my friend. Comparatively speaking, we are almost in the Promise Land!
Xxx
disposed and wiped off,thanks for your help.
Thanks LG for posting this info
rickstereo, now you really should know at least this much. You are really showing your naivety!
Timely signed releases are the underlying and primary documents for distributions especially from Safe Harbor, BK Remote assets and Escrow ShareMarkers were nothing more than a marker for WMILT canceled on 12/31/2021 which some shares returned, although minimal.
Xxx
rickstereo, have I told you lately how much more, more and more I love my timely signed releases (by 3/2012) that continue to grow immensely every single day forward?
So you dont love your escrows anymore??? lololsss
rickstereo, have I told you lately how much more, more and more I love my timely signed releases (by 3/2012) that continue to grow immensely every single day forward?
Xxx
L.G. sometimes when you are not 100 % sure of what you are presenting to other people, it is wise to reserve some doubt...everything that is discussed on this message board, post chapter 11 closure has not been adjudicated by the courts, nor people involved in the WAMU saga...so, it is just that,.....talk, not law... only the force of law will move money to its rightful owners, by signed contracts, or documents...there is no documents post chapter 11 closing that stipulates shareholders are entitled to more money, other than that which was given in chapter 11 closing document... read this document again, until it makes sense to your assertions....Lodas
MEGA BULLSHITE!!!
L.G. read the POR 7, and chapter 11 closing documents....one can love his investment all he wants, but the facts are clear... the Chapter 11 has closed, and all Creditors and shareholders claims were satisfied...if those that are expecting added returns after the chapter 11 closed, should have read the documents before signing, and filed a complaint with Willingham...no one challenged the release signature document...either shareholders , nor hedge funds, or class 19....I will take the words of the courts, SEC documents. FDIC, and WMIH over any hypothesis on this message board....there is nothing coming back....riddle me this?... if WMIH owes money to shareholders, why are they avoiding them for 10 years?....its over L.G.......the sooner this is realized, the sooner people can go on with their lives, and not waste it for something that cannot, or will not happen...Lodas
More Fabulous Diligence From Dmdmd1:
Per SEC filing :
https://www.sec.gov/Archives/edgar/data/933136/000119312515070176/d838601dpre14a.htm
Page 43
“
Appaloosa Investment Limited Partnership I = 4,439,185 WMIH
Palomino Fund Ltd. = 6,662,182 WMIH
Thoroughbred Fund L.P. = 2,946,035 WMIH
Thoroughbred Master Ltd. = 2,982,592 WMIH
_________
Tepper et al converted their released Class 19 claims (I’m assuming that all WMIH converted were WAMPQs for easy calculations). The reason I’m assuming that they bought Class 19 Equity prior to BK emergence is because I’m assuming that they had all the insider information with respect to Class 19 being able to participate in a Private Equity deal while Class 22 will be excluded after WMI recoveries start.
WMIH owned by Tepper et al as of December 19, 2014:
Tepper et al Total = 17,029,994 WMIH / 19.8005825 WAMPQ conversion = 806,075 WAMPQs released
WMI Recoveries = $625 billion
WAMPQ = $66,111
806,075 WAMPQs x $66,111 = $53,332,074,255
Total Tepper et al WMI Recoveries = $53,332,074,255
________
IMO…my conclusions as September 25, 2022 @ 1520 CST:
If WMI RECOVERIES = $625 billion
1) Bonderman et al total recoveries via Class 22 alone is at least $105 billion; I contend they also released Class 19 and creditor claims from a principal investment of $7.2 billion.
2) Tepper et al total recoveries via Class 19 alone is at least $53.3 billion; I contend they also released their creditor claims and Class 16 claims. I don’t know the principal investment of Tepper et al.
3) just the two above investor groups alone potentially will receive $158.3 billion
$158.3 billion / $625 billion = 0.25328 or 25.328% of all the WMI recoveries!
4) Underwriters = 72,000 WAMPQs (from $96 million indemnity claim)
72,000 WAMPQs x $66,111 = $4,759,992,000
So 14 years to wait is a long time, but I contend it will be worth the wait!
Happy 14th anniversary of the WMB seizure!!
xxx
14 Years ago today, Happy Anniversary?
More Dots To Connect - JPM NOW Servicing Former COOP Mortgages
READ CLOSELY ALL THE WAY TO BOTTOM-THIS CONNECTS MANY, MANY DOTS TO OUR DISTRIBUTIONS
1) Some BoardPost members reported their mortgages will be serviced by JPM on 4/1/2022...This is a turn-a-round from what we have seen in the past BUT now makes perfect sense on both timing and JPM paying for certain assets as we saw in POR 7
2) Amended POR 7 signed by the court on 2/23/2012 advised JPM must pay Book-Value for certain assets of the WaMu Estate
3) We have not seen these monies since dissolving WMILT on 12/31/2021. JPM MAY gather the assets they wanted to pay for and will proceed with payment on/before 12/31/2022?
4) Now look at the following information I have posted several times over the years
5) Plus the 50B discussed on the recent earnings call on 2/11/2022 with Escrow Shares being suddenly removed same day and then COOP stock rallied seven-plus dollars...hmmm, hmmm
6) This is now all coming together it seems not to mention some investors must be terribly worried
__________________________________________
Remember the Year 2014 & JPM's OFF-BALANCE SHEET ASSETS-Now Look at COOP's Admission of Off-Balance Sheet Assets
***MANY BELIEVE THESE JPM OFF-BALANCE SHEETS Assets were earmarked for the investors who signed timely releases...NO, JPM DID NOT GET ALL OF THIS FOR FREE***
Obligation under an Off-Balance Sheet Arrangement of a
Registrant, Financial Statements and Exhibits (form 8-K)
11/04/2021 | 04:24pm EDT
https://www.sec.gov/Archives/edgar/data/933136/000119312521320180/0001193125-21-320180-index.htm
_______________________________________
WaMu Assets - JPM remitting monies to the Wells Fargo accounts
http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
JPM remitting monies to the Wells Fargo accounts set up during bankruptcy, however, we have no idea how many billions are in these accounts and the same goes for the court registry accounts ALL lawyers have been paid from to the tune of almost ONE BILLION DOLLARS- ZERO ACCOUNTABILITY!
Are we forgetting this?
From the GSA:
http://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
Exhibit Z
Loan Servicing. From and after the Effective Date of 3/19/2012, JPMC shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit “Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit “AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to WMI all checks and/or payments received in connection with those loans in its possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is holding with respect to such loans and (ii) provide WMI an accounting with respect to each of the foregoing.
Notwithstanding the foregoing, any dispute that may arise relating to the servicing of such loans during the period from and after the Effective Date shall be brought pursuant to such servicing agreements and this Agreement is not intended to create any additional rights, obligations or remedies.
The Parties acknowledge and agree that (y) the Loans are the only loans that are or will be, from and after the Effective Date, serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their Affiliates or their successors in interest) and that the Service Agreements are the only servicing agreements between the JPMC Entities (or their Affiliates) and the WMI Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or liability to any of the WMI Entities (or their Affiliates) with respect to or in any way related to the servicing of any loans for the WMI Entities (or their Affiliates).
Notice that it says WMI and NOT WMB?
Also, notice that most of the loans are single-family residential loans?
And let's see what is noted in the P&A between FDIC as RECEIVER of assets from WMB and JPM.
Let's zoom in on Schedule 3.2 (it is called PURCHASE PRICE OF ASSETS, by the way, to avoid any misinterpretation):
(a) cash and receivables from depository Book Value
institutions, including cash items in the
process of collection, plus
interest thereon:
(b) securities (exclusive of the capital stock of Market Value
Acquired Subsidiares), plus interest
thereon:
(c) federal funds sold and repurchase Book Value
agreements, if any, including interest
thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value
outstanding extensions of credit:
(g) Safe Deposit Boxes and related business,
safekeeping business and trust business, if Book Value
any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiares: Book Value
(j) amounts owed to the Failed Bank by any Book Value
Acquired Subsidiar:
(k) assets securing Deposits of public money, Book Value
to the extent not otherwise purchased
hereunder:
(1) Overdrafts of customers: Book Value
(m) rights, if any, with respect to Qualified Market Value
Financial Contracts.
(n) rights of the Failed Bank to provide Book Value
mortgage servicing for others and to have
mortgage servicing provided to the Failed
Bank by others and related contracts.
(0) Bank Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value
If you read all this, isn't it very obvious the off-balance figures on the JPM 10k were made public in 2014 and the closing of P&A in 2014 are related? Not the mention the 38 billion of loans which have not been repaid or liquidated returning to the FDIC receivership?
Isn't it very obvious that JPM, as stated in the GSA, was the pure servicer for Single Family Residential loans (a.k.a. mortgages) and that checks and payment are to be remitted to WMI?
THIS REALLY SHOULD MAKE INVESTORS THINK
https://www.sec.gov/Archives/edgar/data/933136/000119312521320180/0001193125-21-320180-index.htm
MR. COOPER GROUP INC. : Entry into a Material Definitive Agreement,
Creation of a Direct Financial Obligation
OR
an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits
WaMu 299 BILLION in ASSETS - FDIC OWN PIE CHART PAGE 7 - ALL COMING TOGETHER
WaMu 299 BILLION TOTAL ASSETS PER THE FDIC
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF 299 Billion in Assets - This Number should Come Up Again
https://www.fdic.gov/about/financial-reports/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf
Bottom of page 7 below pie chart
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF
XXX
Lodas, have I told you lately how much more, more and more I love my timely signed releases (by 3/2012) that continue to grow immensely every single day forward?
xxx
You were given something else besides escrow. I see you didn't mention that.
Bbanbob, when the processes show the way forward and dots that seem to connect many facts to backup then the posting is nill, so I guess actions are very telling.
Looks like we will be getting a COOP 8K by yearend 2022 but more than likely before October 2022 is complete showing assets purchased from a DST, shell company or similar but shares ultimately to those investors who signed timely releases by 3/2012.
Have I told you lately how much more, more and more I love my timely signed releases (by 3/2012) that continues to grow immensely every single day forward?
Xxx
how the DST came about.........as a result of the agreement for the GSA, WMI was to receive 4 billion dollars in Depositor funds, as well as about 2.5 billion dollars in tax refunds....A/M was hired to gather all assets of WMI (thats what they were paid for), and gathered about 400 million in various assets WMI were holding, for about 6.94 billion dollars, with which to settle Creditor claims, and bring WMI out of chapter 11.... the money was placed in a DST , and Kosturos was in charge as administrator to disburse these funds to Liquidating Trust Interests who held valid claims in all classes up to class 18...also to oversee the WMILT, a TAB (trust advisory board) was made,and consisted of Mike Willingham, representing equity shareholders, so that no fraudulent expenditures from the DST could be made...Doreen Logan, and Charles Smith were administrators for the WMIL-T...the DST was funded with enough money to satisfy the various claims, and no money could return to the Trust, since it was a Tax Free Grantors trust with WMI as the beneficiary...the money that was left over was given to charity... so the Trust was exhausted, claims were settled, left over money was given to charity, the TAB was disbanded, Kosturos, Doreen, and Smith left.. the WMIL-T was extended to allow claimants time to cash out their claims, as some were delinquent...so, the point....there was only one DST, and that was to fund claims to settle the bankruptcy... Kostrous, and all officers have left, and the DST is over... Rosen stated in the WMIL-T that there were no safe harbor assets held by WMI....Lodas
Bban could you please put this post in a ‘filing’ ?
Lodas only looks for ‘filings’
This is a post for the execution of the trigger of COOP and the reset of COOP and other major institutions. GLTA If not we may have been used to stretch this out and Jamie wins. What a waste of $$$$$$
If only I have more than one post?????
COLUMBUS DAY 2022 SCHEDULE
TRADE
DATE
T+1
SETTLEMENT
T+2
SETTLEMENT
10/5 10/06 10/07
10/06 10/07 10/08
10/07 10/11 10/12*
10/10 10/11 10/12*
10/11 10/12 10/13
*Double Settlement
Dates
DTCC JPM distribution September 26th
DTCC 9/30 (t+4) cash and interest
DTCC 10(Oct) 10/4/5/6 Merger reset
DTCC 10(Oct) 10/11/12/13 Merger reset
Double settlement 10(Oct)11/12
Long form Oct 18th Reclaim Oct 19th merger reset.
If you want all the dates in one doc copy out and study.
If the cash does not arrive on September 30 it is because they do not have any plans to execute this and that the DTCC has designed for us and AMEN. So one should be able to wait until October 19th the deadline.
https://www.dtcc.com/-/media/Files/pdf/2022/9/16/17367-22.pdf?fbclid=IwAR1epCUPGKZCLzoKBAyrWp90Cr6C1meEdxEvdypi7A2dIXoROkma-i5vfok
https://www.dtcc.com/-/media/Files/pdf/2022/9/16/17367-22.pdf?fbclid=IwAR0fKSeSvzWh1ctNQiirZA0hoiRWEBPbS7A3Q0CPcIOG2sMvEq_ryy5e0X0
another sources
https://www.dtcc.com/-/media/Files/pdf/2022/9/15/REVISED-a9208.pdf?fbclid=IwAR2bk4dfJp9yLafrSOofsk8l-i5OEwdvNhEsgt1A-xddQncqeIk1Ilse-og
This will give you all the dates and please copy and study. The Truth will set you free.
Maybe because he did not post recently…it is just a repost from years back and nothing came of it….You need for for him to post something recently that is not bs…
CLASS 19, AS CLOSE TO PROOF as we get UNTIL Distributions-THANKS to Dmdmd1 for FABULOUS RESEARCH!!!
The very last couple of paragraphs are updated with IMO…my conclusions as of September 24, 2022 @ 0956 CST:
Quote from: Dmdmd1 on October 08, 2020, 03:55:19 PM
IMO ...my conclusions as of October 08, 2020 @ 1453 CST:
The Bonderman et al. Timeline :
1988: Robert M. Bass Group along with David Bonderman (COO of Bass Group) bought American Savings Bank from FSLIC (predecessor to FDIC)
__________
August 1989: Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
https://www.uscfc.uscourts.gov/sites/default/files/opinions/SMITH.AMERICANSAVINGSCORRECTED061611.pdf
PDF page 4 of 27
“ In August 1989, Congress enacted the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”), Pub. L. No. 101-73, 103 Stat. 183. The result of this legislation, in part, was that the Note Forbearance and Warrant Forbearance were invalidated, thus depleting the amount of regulatory capital held by American Savings. Accordingly, the bank had to increase its levels of “real” capital that is investments of money or property that increased the bank’s net worth. This is unlike “regulatory capital” which only exists because regulators accept it for regulatory compliance.
During a deep recession in the California economy, American Savings became profitable and recorded net income of $247.6 million in 1990. Am. Sav. II, 62 Fed. Cl. at 10. It described itself in 1991 as “one of the most profitable depository institutions in the nation.” Id. (internal citations omitted). In 1996, Plaintiffs entered into an agreement to sell American Savings to Washington Mutual, Inc. Pursuant to its warrants, the FDIC, as FSLIC's successor, would have been entitled to receive a portion of the sales price in the Washington Mutual transaction after distribution of the preferences. However, the FDIC and the Bass Group negotiated a modification of their prior agreements under, which the FDIC agreed to accept 14 million shares of Washington Mutual stock, with the Bass Group receiving 26 million shares (a 65-35% split). In January 1997, the FDIC sold its Washington Mutual shares for a net amount of $651.7 million.“
__________
July 1996: WMI bought American Savings Bank making Robert M. Bass Group the biggest shareholders of WMI, and putting David Bonderman and J. Taylor Crandall on the WMI BOD.
__________
December 24, 2002: Bonderman and J. Taylor Crandall were forced to resign from WMI BOD due to pending American Savings Bank litigation against the United States (FSLIC/FDIC)
https://www.americanbanker.com/news/wamu-wants-shares-in-keystone-escrow-account-released
Published December 24, 2002
“Wamu Wants Shares In Keystone Escrow Account Released
December 24, 2002, 2:00 a.m. EST
2 Min Read
?
SEATTLE - Washington Mutual Inc. announced Monday that it is seeking to have 18 million of its own shares and about $85 million of cash released from an escrow account formed when it bought American Savings Bank in 1996.
The $262.2 billion-asset Seattle thrift company said that the account, managed by Bank of New York, was scheduled to be dissolved Friday. But the account's beneficiaries, the Federal Deposit Insurance Corp. and the former owners of American Savings, are disputing that termination, a Wamu spokesman said.
The FDIC has requested that Bank of New York not release the shares and said that the account's life can be extended for up to four years, Wamu said in a press release.
According to the company's annual report, 65% of the escrow account should be released to the former investors in American Savings' previous parent, Keystone Holdings, and the rest to the FDIC's Federal Savings & Loan Insurance Corporation Resolution Fund, when Wamu receives proceeds from a 1992 filed by American Savings against the U.S. government.
A Wamu spokesman said that the funds should revert to the company if the shares are released but should have "no material impact" on earnings.
The disagreement over when to release the funds has prompted a change in the structure of Wamu's board. "In order to facilitate discussions among the parties," two directors affiliated with Keystone have resigned, the thrift said.
The directors are David Bonderman, who owns 1.4 million shares held in the escrow account, and J. Taylor Crandall, who owns 2.4 million, according to Wamu's most recent proxy statement.
The dispute stems from a lawsuit in which American Savings, of Irvine, Calif., accused the government of breach of contract in the sale of distressed savings and loan assets to Keystone. When Wamu bought Keystone in 1996, it put 8 million shares in a litigation escrow account for the benefit of American Savings' previous owners and the FDIC, to be released when and if Wamu received proceeds from the lawsuit.
Thanks to two stock splits, those 8 million shares have ballooned to 18 million. The escrow account also holds accumulated interest and dividends.
The U.S. Court of Federal Claims gave its summary judgment to the case in April and concluded that the government had breached the contract. The FDIC claims the summary judgment established the conditions for an extension of the escrow account.
A spokeswoman for the FDIC would not discuss the matter.
As a successor to American Savings, Wamu said it can still take home reimbursement for its part in the long-running suit, if the proceeds exceed $516 million. The company is still waiting for a decision on the monetary settlement to the case.”
__________
April 08, 2008: Bonderman et al. (“TPG Investors” = $2 billion + “Institutional Investors” = $5.2 billion) infused $7.2 billion cash into WMI. Thus making David Bonderman a WMI director again.
__________
June 11, 2008: China sovereign fund invests $2.5 billion into TPG VI
https://www.perenews.com/report-china-invests-2-5bn-in-tpg-fund/
“TPG has reportedly become the latest US buyout firm to attract Chinese state investment, with the country’s State Administration of Foreign Exchange agreeing to commit more than $2.5 billion (€1.6 billion) to its sixth buyout fund [TPG VI].”
__________
June 24, 2008: WMI BOD ratifies plan to sell more than 50% of WMI (I.e. toxic assets like Long Beach Mortgage) to TPG investors.
__________
September 25, 2008: WMB was seized by OTS despite being solvent, and WMI was also looking to sell itself during the summer of 2008.
__________
September 26, 2008 @ 0800 EST: Exchange Event occurred.
Bonderman et al. were issued preferred stock.
__________
November 17, 2008: Docket #301 filed by “TPG Investors” declared redacted amounts of:
1) common shares
2) Series R
3) Series I
4) Series J
5) Series L
6) Series M
7) Series N
__________
April 01, 2011 (corrected opinion filed June 16, 2011): Bonderman et al. (Keystone Holdings Group formerly Robert M. Bass Group) was awarded $83.318 million for “American Savings IV” litigation.
https://www.uscfc.uscourts.gov/sites/default/files/opinions/SMITH.AMERICANSAVINGSCORRECTED061611.pdf
PDF page 2 of 27:
“ SMITH, Senior Judge:
OPINION and ORDER
This Winstar-related case is before the Court following a 15-day trial on damages for the Government’s breach of the Warrant Forbearance, which is on remand from the Federal Circuit, Am. Sav. Bank, F.A. v. United States, 519 F.3d 1316 (Fed. Cir. 2008) (“American Savings IV”). The Warrant Forbearance allowed American Savings Bank to count the value of stock warrants granted to the Federal Savings and Loan Insurance Corporation (“FSLIC”) towards its regulatory capital. Plaintiffs seek to recover damages based upon several alternative theories: lost profits, cost of replacement capital, and/or reliance damages. The Court issues this opinion after considering trial testimony and exhibits, post-trial briefs, and closing arguments. For the reasons stated herein, Plaintiffs are hereby AWARDED expectancy damages for their lost-profits claim in the amount of $83,318,000.”
__________
September 13, 2011: Judge Walrath’s ruling stated “Colorable Claims” of insider trading by AAOC/SNHs
Per my previous post regarding "Colorable Claim" of insider trading:
https://www.boardpost.net/forum/index.php?topic=13141.msg229068#msg229068
"I wanted to separate this thread for ease of access when searching for this document:
http://www.kccllc.net/wamu/document/0812229110913000000000006
As of September 13, 2011, Judge Mary Walrath’s court Gave this ruling:
PDF page 125-126 of 139
“ The Plan Objectors disagree with the Settlement Noteholders’
contention that the settlement negotiations were too tentative to
be material. The TPS Group asserts that over the course of
negotiations it became clear that a settlement was more probable
(as issues were resolved) and that the funds available to the
estate were increasing. The Plan Objectors argue that the
materiality of the information is evident from the fact that as
soon as the Settlement Noteholders were free to trade on that
information they did: engaging in what the Equity Committee
characterizes as a “buying spree” concentrating on acquiring (at
a discount) junior claims because the Settlement Noteholders knew
(although the public did not) that the junior creditors were
likely to receive a recovery. (AOC 18; AOC 54; AOC 62; Au 8.)“
PDF page 137-138 of 139
“ For all the above reasons, the Court finds that the Equity
Committee and the TPS Group have stated a colorable claim that
the Settlement Noteholders engaged in insider trading under the
classical and misappropriation theories.”
__________
October 17, 2011: Wildcat Capital Management, LLC was incorporated in Delaware (David Bonderman’s family office)
__________
November 17, 2011: Thackeray III Bridge, LLC was incorporated in Delaware (IMO...I contend this is one of the many DSTs where WMI and WMIIC transferred assets, including beneficial interests in bankruptcy remote MBS Trusts created by WMI subsidiaries)
__________
March 19, 2012: Effective Date of Chapter 11 emergence
Bonderman et al. Released potentially 822,871,428 shares of common stock (WAMUQ)
1) “TPG Investors” = 228,571,428 shares of WAMUQ
2) “Institutional Investors” = 594.3 million shares of WAMUQ
__________
So main question: Why hasn’t Bonderman’s investors (including the Chinese) sued him for losing $7.2 billion within 6 months from the April 08, 2008 WMI Transaction?
IMO...my answer: Bonderman told his investors to wait for the long game which currently potentially has Bonderman et al. owning approximately 822,871,428 shares of common stock (WAMUQ)
Thus, Bonderman et al. = 822,871,428 shares of common stock / 1,194,340,178 total shares released = 68.89% of the common shares released are owned by Bonderman et al.
Potential recovery for WMI Escrow Marker Holders are at least $101.9 billion (beneficial interests in MBS Trusts created by WMI subsidiaries) not including over 12 years of interest.
________________________________
I want to post this here because it’s important to the timeline.
Nate Thoma testified in front of Judge Walrath in summer of 2011:
http://s.wsj.net/media/sg061011.mp3
Listen to the whole thing, it’s very interesting with plenty of evidentiary data.
03:33—October 18, 2010 hearing, SNH claimed : 70% of PEIRS
Thoma stated: disenggenuous because the SNH owned:
10% Senior Notes
74% Senior Subordinated Notes
69% PEIRS
10:21–Appaloosa first purchased PEIRS on 9/29/2008 @ $0.0004 per share
Owl Bridge & Centerbridge first purchased PEIRS on November 2008 @ $0.02 per share
Aurelius first purchased PEIRS on January 2009 @ $0.03 per share.
All purchased Subordinated Notes in a bankruptcy stock above par!!
14:01—If creditors wanted to get their recoveries sooner they could have just sold on the open market. WMI Senior Notes were trading above par for ten months since February 2010 (prior to the date of the hearing…July 2011…not sure of the exact date of Nate Thoma’s testimony in court).
Senior Subordinated Notes traded above par for nine months since March 2010.
_________
IMO…my conclusions as of September 24, 2022 @ 0956 CST:
1) Bonderman et al won their American Savings litigation on April 01, 2011.
“ April 01, 2011 (corrected opinion filed June 16, 2011): Bonderman et al. (Keystone Holdings Group formerly Robert M. Bass Group) was awarded $83.318 million for “American Savings IV” litigation.
https://www.uscfc.uscourts.gov/sites/default/files/opinions/SMITH.AMERICANSAVINGSCORRECTED061611.pdf
PDF page 2 of 27:
“ SMITH, Senior Judge:
OPINION and ORDER
This Winstar-related case is before the Court following a 15-day trial on damages for the Government’s breach of the Warrant Forbearance, which is on remand from the Federal Circuit, Am. Sav. Bank, F.A. v. United States, 519 F.3d 1316 (Fed. Cir. 2008) (“American Savings IV”). The Warrant Forbearance allowed American Savings Bank to count the value of stock warrants granted to the Federal Savings and Loan Insurance Corporation (“FSLIC”) towards its regulatory capital. Plaintiffs seek to recover damages based upon several alternative theories: lost profits, cost of replacement capital, and/or reliance damages. The Court issues this opinion after considering trial testimony and exhibits, post-trial briefs, and closing arguments. For the reasons stated herein, Plaintiffs are hereby AWARDED expectancy damages for their lost-profits claim in the amount of $83,318,000.”
2) The above litigation gave birth to the Underwriters indemnification claim of $96 million
3) The Underwriters along with any creditors or SNHs (Senior to Equity Class 19 & 22) could have settled for above par if they bought and sold Senior and Subordinated Notes in the open market throughout the bankruptcy proceedings.
4) The Underwriters even decided not to pursue Class 18 claims ($24 million), they decided to relinquish them in the March 28, 2013 stipulation (over a year after the POR7 was approved on March 19, 2012).
5) I don’t know the exact dates when SNHs started buying Class 19 WAMPQs but they obviously released them.
6) So why would the SNHs buy WAMPQs?
7) Why did the Underwriters want to stay in Class 19?
IMO…the answer is they knew that it would yield the most money in the WMI recoveries matrix.
Xxx
Yep…Lehman the tell…this is so funny
DJN
Curious do you still believe this is ONE OF YOUR LARGE PLAYs $LEHMAN
I do but, I also feel that WMI is JOINED AT THE HIP WITH LEH
Exactly! This line of thinking is pure garbage and is as old as the posts that are being referred to as "due diligence".
I signed my releases and was given escrows ...... escrows that are now gone.
CAT's got their collective tongues...OR MAYBE JUST MAYBE, common SENSE and LOGIC are finally kicking in and the LIGHT BULB HAS GONE ON...........
Pretty hard to DISMISS the LOGIC and COMMON SENSE in DMDMD's post that you have posted or my post............ But sure went quiet
How many investors can a DST have?
Although they provide equity capital, DST beneficiaries are (((PASSIVE INVESTORS))). DSTs can theoretically have an unlimited number of beneficiaries, though the number usually is capped at 499 by the DST sponsor.May 22, 2022
Passive Investing 101: Definition, Strategies, Pros & Cons
https://www.businessinsider.com › ... › Investing
Jul 18, 2022 — Passive investing is a long-term strategy in which investors buy and hold a diversified mix of assets in an effort to match, but not beat, ...
We bought INTO WMI which WAS A HOLDING COMPANY(LATER TURNED INTO A DST), WMI owned WMB not us, so in short WE ARE the PASSIVE INVESTORS IMHO in WMI via our P's K's UQ's purchases and AS PASSIVE INVESTORS we are RIDING THE COATTAILS of(BILLIONAIRES) the ones INVESTING our funds and imho will be amply paid over time as those assets will be put to work..................IF IF IF WE ARE ALLOWED TO PARTICIPATE if there is a threshold that needs to be met, either on our own ability to make the threshold (IF THERE IS ONE) on our own individual holds or if IF IF done as a group through our brokers
THINGS THAT MAKE ONE GO HMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM
Not sure just how much clearer all of this can be made as the following pretty much sums it up AT LEAST TO ME>>>>>>>>>>>>>>>>>>>>>>>
TRUTH YA REALLY WANT THE TRUTH ? WELL HERE IT IS
1.You can't set up a DST with NO ASSETs, you can't set up any trust with NO ASSETS.
Example;
How a Delaware Statutory Trust Works | DST Investment
https://www.re-transition.com › investing-delaware-stat...
Delaware Statutory Trusts typically require a minimum investment of $100,000, and an investor can acquire or exchange into ownership in one or multiple DSTs.
2. Trustee's OF A TRUST ARE PAID, HOW is KOSTUROUS being paid IF IF IF there IS IS IS NO MONEY IN THE TRUST?????????
3. When a trust has exhausted all of it's assets and have returned assets dues to beneficial interest holders per trust requirements, THE TRUST IS DISSOLVED.
4. LAWYERS WERE PAID CLOSE TO 1 BILLION DOLLARS
5. How does a POS COMPANY with no product no service in BK and 600 mill in debt , secure a 2.7 BILLION DOLLAR LOAN
1. A trust was set up
2. KOSTUROUS IS IS IS BEING PAID
3. THE DST HAS NOT BE SHUT DOWN
4. HOW do ya pay lawyers almost 1 bill if there is no MONEY
5. A POS BROKE COMPANY DOESN'T
HMMMMMMMMMMMMMMM think about it USING COMMON SENSE AND LOGIC and AND then tell US ALL there is NOTHING LEFT
I guess he was supposed to come out and say, HEY not to worry, in about 14 yrs YOU GONNA LOVE ME FOR GETTING YA INTO THIS.
Guess ya also missed all of the other MISDIRECTION in the MEDIA when it pertained to WAMU
And have as well missed IN PLAIN SIGHT the lack of even stating the NAME WASHINGTON MUTUAL in almost ALL articles about the banking crisis in 2008 in the last 14 yrs
When one is IN THE MOVIE ONE HAS TO FOLLOW THE SCRIPT
LOGIC and COMMON SENSE USE EM THEY WORK
Have zero COMMON SENSE or LOGIC
THAT was ONE HECK OF LOT of GOOD DD rolled into a big ball
You left out the bit from 2008 where Bonderman wrote a letter and apologized to his investors for losing their money in WMI
https://www.reuters.com/article/washingtonmutual-tpg-idUSN2631351920080926
Bbanbob, why is it so many here cannot and will not respond to Dmdmd1 post
Facts can be cruel to those investors who did not sign timely releases by 3/2012
Xxx
UNDERSTATEMENT OF THE YEAR
"""THANKS to Dmdmd1 for FABULOUS RESEARCH!!!
"""
PURE BULLSHITE!!!
disposed and wiped off,thanks for your help.
"a derogatory salutation, especially to elders", where did i post something related to any elder on this earth which was derogatory?.
It's always perhaps until it happens. Have you not noticed?
even if I wrote positive posts supporting your cause, it would not forward a favorable outcome for you....all parties involved agreed to the terms of the POR 7, and chapter 11 settlement , which SHE APPROVED BY LAW... my words are the result of what transpired, and were not instrumental in any way to create the outcome...it is proper to address others by their name, which shows respect... a derogatory salutation, especially to elders, shows a lack of civility.........Lodas
you confirmed what I said ....A-L= 16 billion dollars hole in WAMU's balance sheet held at the FDIC...they had no liquidity because the depositors drained it all out....these were the words of Califano before the judge when hearings were held to confirm the chapter 11 closing....the Receivership will only close when every last penny is drained from whatever assets the FDIC is holding...does anyone know how much money WAMU borrowed from the Fed Discount Window to make those 2 trillion dollar RMBS loans to investors that ron stated in his post?...there is no way WAMU could have made 2 trillion dollars in RMBS unless they borrowed money from the FED...they paid off Creditors claims but left the FED holding the bag for 16 billions... do you really think the Fed is going to give money back to shareholders and close the receivership with a 16 billion dollar hole left in it?...Lodas
Bbanbob, you posted the following. This is EXACTLY CORRECT in that one MUST have assets in the game to have DSTs period!
You mean MONEY LIKE THIS
TRUTH YA REALLY WANT THE TRUTH ? WELL HERE IT IS
1.You can't set up a DST with NO ASSETs, you can't set up any trust with NO ASSETS.
Example;
How a Delaware Statutory Trust Works | DST Investment
https://www.re-transition.com › investing-delaware-stat...
Delaware Statutory Trusts typically require a minimum investment of $100,000, and an investor can acquire or exchange into ownership in one or multiple DSTs.
2. Trustee's OF A TRUST ARE PAID, HOW is KOSTUROUS being paid IF IF IF there IS IS IS NO MONEY IN THE TRUST?????????
3. When a trust has exhausted all of it's assets and have returned assets dues to beneficial interest holders per trust requirements, THE TRUST IS DISSOLVED.
HMMMMMMMMMMMMMMM think about it USING COMMON SENSE AND LOGIC and AND then tell US ALL there is NOTHING LEFT
1. A trust was set up
2. KOSTUROUS IS IS IS BEING PAID
3. THE DST HAS NOT BE SHUT DOWN
NOW HOWDAYDODAT with NO MONEY just like HOWDAY pay the lawyers almost A BILLION DOLLARS during this case
LOGIC and COMMON SENSE USE THEM THEY WORK
Xxx
disposed and wiped off,thanks for your help.
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Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.
Upon completion of the merger between WMIH Corp. and Nationstar Mortgage Holdings Inc. on July 31, 2018, WMIH became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper), Xome and Champion Mortgage (Nationstar Mortgage LLC d/b/a Champion).
As of October 10, 2018, Mr. Cooper Group Inc. is the new name of WMIH Corp. On July 31, 2018, WMIH, now Mr. Cooper Group, became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper) and Xome.
As early as late 2006, WaMu would begin to become a victim of what would eventually become the worst recession in US history since the Great Depression of 1929. WaMu's aggressive business strategy would begin to unfold throughout the end of 2006 and become increasingly disastrous through 2007. As housing rates were at all time highs before the recession began, WaMu would use its considerable leverage and assets to make large amounts of loans in both subprime mortgages and subprime credit cards. The banking division of WaMu at one point before the end of 2007 had nearly 336 stand-alone branch buildings where various types of home loans were processed and approved. WaMu would eventually over leverage themselves due to the high number of Adjustable Rate Mortgages (ARMs). As the US economy slowed down, the number of home loan defaults began to rise in quick succession. This coupled with the falling home prices throughout most of the US meant that even with foreclosures and the properties back in the hands of the company, they were unable to sell them back into the market, or were not able to derive enough revenue from the sale to cover the loan that was made on them. In the mean time, the credit card division was also seeing a surge in the number of late and non payments being made.
By September of 2008, WaMu's stock price had fallen to $2 from its previous highs of around $50 just two years earlier. Amid strong voices from the shareholders, then company CEO Kerry Killinger was dismissed by the company board. In the meantime, the company went looking for a buyer for part of its banking division. WaMu had been unsuccessful in finding an appropriate buy until its seizure by the FDIC. Overnight the companies banking division was bought by JP Morgan Chase in a secret deal brokered by the FDIC for 1.9 billion dollars. Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc. WITH SHAREHOLDERS INTACT
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