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No war is needed to payback to rightful shareholders.
Mega settlement under cover of war in the news. Nobody will care about our settlement as the war will dominate the news.
Lets hope this is not the end of the world...
Sure as the company authorizes them but before they can be put to use there would have to be all the details including Face Amount
This save a company a lot of time when they are authorized before they actually need them by as much as two or three months. Plus they can quietly do it after time has pass because most people would have forgotten about them and just think they canceled their plans to use them. Less attention the better especially in this particular case and history
CONSERVE AND PROTECT ASSETS FOR THE BENEFICIARIES/OWNERS
In 2010 or 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
-------------------------------------------------------------------------------------------------------
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
In 2012 EC FAQ mentioned about sources of distributions and WMILT
------------------------------------------------------------------
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
In 2012 LT Agreement was executed with what Trustee can't touch
---------------------------------------------------------------
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
2020 after creditor claims were paid off.
-------------------------------------------
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
Several Libor cleanup settlements underway giving a green light to the final mega settlement.
Can shares be authorize at unknown value?? Never heard before! I have nothing to do with finance or economics but what I understood was:
If you float a small Co. With $1M then you may float 100k shares of $10 each.
Why are we celebrating?
400 B as I remember from this board, and expected settlement was at least 80 B.
No Face Value attached YET but could be any denomination that works for the Big Money Players so could be 1K, 5K, 10K or more
They have had these authorized since the ED of March 19, 2012 so obviously they have had a plan for years and I feel the time is getting very close for them to put those shares to work. Yes, this is part of what we have been waiting for
..,
Yes I thought same 10 m shares I did not follow so closely. Any value on those or zero.
No, LG does not say there are ten million preferred authorized and shelf-ready shares available on a minute’s notice but the filings say this since the (ED) Effective Date of 3/19/2012 and again post Reverse Split (1-12) during October of year 2012 confirms the aforementioned!
So, get your facts straight. I have just educated some.
..,
So those are 10 m shares LG says ready to be distributed?
Correction:
Rosen said: Examiner do not need to look at those assets. Equity committee would like to look at those assets. I forgot "NOT"
Thought the Libor claims were for billions?
"in full and final settlement of the claims asserted in this Action, the Settling Defendants have agreed to pay $3,450,000"
Really? Probably you'll say this was only for certain Hedge/mutual Fund companies and not the FDIC lawsuit but come on... A $3,450000 "Settlement"? Really??? I bet the Cost of Usage of the Courtroom/Toilets/toilet paper in the courts where all these "Lawyers" 'Converged/Colluded" to 'argue in the Court proceedings' would have cost more than this!
Coop already stated dividends are not something they will be paying at time…..which means not for years to come…
AHAHAHAHAHAHA...now that was the funniest thing i heard in a LONGTIME !!!!!!!!!!!!!
Dr A is long gone, had incomplete information, and is irrelevant.
silly RABBIT............TRICKS are for KIDS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
You are correct. However, as I wrote in my post, I never said that it was brought up by the company. It was just someone’s speculation that never materialized!
That was something only discussed here, as a possibility. Not something COOP has mentioned.
People here discussed how they would like share buybacks to stop, and instead receive a divy. Or have both..
I know that this hasn’t come up for some time, however, what ever happened to COOP paying dividends? I know of a poster (not to mention a name, he knows who he is) who mentioned that this would happen years ago and was again brought up not too long ago. Any idea!
So where is the money…..even cactus can not prove there is money…just theories…. Why not just ask….he will claim it is just an opinion….
That is because cactus never shared that information with you and you have no clue who it is as well….he is your best bud why has he not shared it with you….
RAY
""How they can issue pfds of 10B and those were approved by stock exchange. This indicates some assets exist outside court proceedings."""
Where are you getting these numbers as they are 100% incorrect
WMIH/COOP has today 10 mill shares of PREFERRED shares that HAVE NO FACE VALUE assigned to them, at this point they have NO value 0 zero zilch nadda not worth .10 cent
So the COMPANY could be worth 100$ and still have 10 mill shares authorized with NO AGAIN NO FACE VALUE YET
SETTLEMENT AGREEMENT BETWEEN EXCHANGE-BASED PLAINTIFFS AND CREDIT SUISSE AG, LLOYDS BANK PLC, BANK OF SCOTLAND PLC, NATWEST MARKETS PLC, PORTIGON AG, WESTDEUTSCHE IMMOBILIENBANK AG, ROYAL BANK OF CANADA, RBC CAPITAL MARKETS, LLC, COÖPERATIEVE RABOBANK U.A., THE NORINCHUKIN BANK, MUFG BANK, LTD., AND UBS AG Case 1:11-md-02262-NRB Document 4011-1 Filed 04/11/24 Page 2 of 88
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/Exhibit-1/nysd-1:2011-md-02262-04011-001
B3 here is AZs last post!
Semper Fi
Everyone keeps talking about "the money" with all the fantasy nonsense. Yet, nobody can show anyone "the money"...
It's not my job to prove, what you can't prove exists, doesn't exist. That's stupid. And not how the world works.
Show me "the money" you speak of. You can't, because it doesn't exist. Escrows are gone, deleted, deemed worthless, with no further distribution. The trust ordered them deleted for that reason. The FDIC also has nothing for you. Nobody does.
Picky, remember my Ferrari example.
No need to worry about XXXX
Uncle Sodas, it’s about time you stop reading 10 year old links in circa 2024 and start celebrating.
Just read AZ post, but it was just deleted. I wanted to tell him that I was able to understand what he was saying. Instead of cryptic partial sentences, AZ has actually written complete sentences and it is more readable. As soon as I read it though, it was deleted!!!!! What happened?
did you read the link I posted of the 2013 WMIH 10-K which was a forensic accounting by independent auditors of the remains WMI after the chapter11 was ratified, and settled by all parties involved, including equity holders?????....it is obvious that you did not because you did not raise to discussion any important issues that WMIH disclosed about the monetary conditions on the balance spreadsheets....most importantly to those on the message board expecting additional recovery is the statement, under the penalty of perjury, that WMIH has no off balance sheet assets, nor is any legal proceedings under way by COURT ACTION to retrieve past holdings....if you did not read this document, then there is no sense in any further discussions from you to be entertained.... it is expected in discourse about a topic of discussion that both competing sides be well informed of the facts being discussed, else, it becomes mundane, arduous, and inefficient...you have displayed a lack of intelligence, arrogance, and flippant behavior, and should be excluded from any discussions that you are not informed about.... now, WMIH has stated in an official document , supplied to the SEC, that the chapter 11 has been completed, and new company has exited chapter 11 , with the assets so stated on the balance sheet as being authentic , and intended to be announced to future investors that will trade the stock on an exchange at a future time....if you have an issue with any expressions made by this document, then please present your opposition to WMIH in a logical, concise manner, so that an attorney can represent you in a court of law for fraud that was committed upon you...Lodas
They were not also paid as we were not also paid through the WMILT…..for class 19……maybe cactus was paid….that is a fact….
Cactus stated soon….which could be another 15 years….now he has you hooked……you still trying to see if he will share information with you……
About Pfds issued or allowed as LG says can be given for Ps. This was also talked in 2013, the paradox was , WMIH was only a 200 M Co. How they can issue pfds of 10B and those were approved by stock exchange. This indicates some assets exist outside court proceedings.
Even one day Rozen said in court" Assets are there examiner do need to look at those. Let our equity committee go after those assets." I heard court proceedings on phone.
I never thought this will take such a long time. Now there is no equity committee. No clear situation.
Did Uncle Sodas send the invitation for the Malibu party already ?
Payday is almost here. I am guessing he will send via snail mail, that sometimes gets delayed.
Hard to beat concrete facts
1.Uw's fought tooth and nail to maintain a measly 1% in worthless paper and spent several million $ to do so according to some here.. IS THIS LOGICAL
2. Preferred was NEVER RV'd 12/1 IS THIS LOGICAL COMMONS WERE RS
3 The court ordered that one of the BOYZ sell 800K K;s PREFRDS notice not one of them was forced to disgorge ANY COMMON SHARES were they HMMMMMMMMMM
4. We have 3 Wells fargo Accts that have been receiving mortgage payment now for 15 yrs
5. WE HAD a 1031 exchange WHY WITH NO PROPERTY to PLACE IN IT Is this logical
6. WE currently have a DST. Trusts can NOT be set up with nothing in them..................IS LOGICAL
Sounds to me like there is still something out there , imho THIS IS ALL ONE NEEDS TO KNOW
Now WHENNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN
Ray
""but what points to some hope is UWs struggle to take 1% Ps class 19 and issuance od 10B preferred stock by WMIH:::
Nobody that SMART spends several mill $$$$ to fight for 1% of a worthless issue in ""EQUITY"" that will NOT RECEIVE anything !!!
REMEMBER the UW's had ALL MOST a full year past 3/19/2012 to decide where to be placed and elect to participate and they DID NOT GET reversed 12/1
Also the 10 mill prefrds HAVE NOT BEEN ISSUED nor have they been assigned a face value as of yet
You “live in USA” and believe that you can send the DOJ and the Police to help you with people who have a different opinion than you?
Best of luck…
Key may I suggest you reread AZs recent posts and XOOMs interpretation! Keeping in mind that WMI was a non banking holding company! All the the non banking subsidiaries were excluded from from the bankruptcy by the judge! Confirmed by the FDIC and valued at $40Billion in assets(2008 Book Value). And all the MBSs(Trusts) and their bankruptcy clauses were confirmed by the DC Circuit court. Those trust payments are for WM commons shareholders mostly and preferred shareholders in the Preferred Managing Subsidiary. 15 years of dividends and interest income! Also we should thank Lodas for the big party he is going to throw in Malibu CA when we get paid!
Semper Fi
To put somebody on ignore doesn't help!
We need arguments and good discussions from both sides.
That's too simple said and not the answer to the questions where the money has gone to. Further I remind also the found gap from Nelson, which he has presented in court. All these things have not been clarified yet in detail and thus there is still hope. Or can you disprove these topics with real arguments ??
pick and loda you both are on ignore, don't bother me with responses any more.I live in USA and i can request the Department Of Justice and Police to help me out from you two users,24x7 bothering former equity.Why do you question me?.Mind your business dks.
Looking for the same news, strange no body is talking about LIBOR any more.
CONSERVE AND PROTECT, simple words with BIG impact.
What did they CONSERVE AND PROTECT, starting with Mr.Mc Mahon?,
May be never heard in the history of BK courts as mentioned by one of the creditor's law fiirm.
Yes true, looks like court never listened to that, but what points to some hope is UWs struggle to take 1% Ps class 19 and issuance od 10B preferred stock by WMIH. THIS indicates something is there but main problem is WHEN?.
So where is the 86 billion???? You seem to think you know the truth….so where is it in Cactus’s Wells Fargo account….what ever was left was donated to charity……
The WMILT is done and the administrators are gone….you have contact information for both Doreen and chuck….why not just email them..
It does not matter, you can keep repeating Dr A’s assumptions because the bk did not…….
did you read the link to the 2013 WMIH 10-K fresh start accounting made by independent auditors that I posted this morning?......specifically did you see the part where no current court cases were being administered post chapter 11 closing?....did you read where all assets of the 7 reinsurance trusts were liquidated and placed in the WMIL-T for disbursement to creditors?....did you read where WMIH HOLDS NO OFF BALANCE SHEET ASSETS!!!!!!.....did you read where WMIH was valued at 75 million dollars if sold right out of chapter 11?....did you read that there were 2 employees of WMIH that remained after the closing of the BK, the WMIL-T closed, and the remainder of the WMIL-T funds given to charity.... do you believe that Rosen was lying before a Federal courtroom, before a Federal Judge full of lawyers and accountants when he stated IN PUBLIC THAT WMI HELD NO SAFE HARBOR ASSETS AND THAT THEY WERE ALL SOLD OFF TO GSE'S????.......is it your contention that equity was cheated from further recovery when Susman and Willingham stated after the mediation hearings that the payments in stock given to equity holders was "Fair and equitable"...., and that they were lying about WMI not hiding Safe Harbor assets?....do you have evidence that WMI hid assets from the bankruptcy court when WMI stated both reportable and non reportable asset were placed in the WMIL-T for disbursement to creditors, and if so, where are these assets, and how much are they?....do you possess facts about your assertions, or are they gut feelings?.... do you read the filings as presented to you in official format to the SEC, or do you dismiss them as just lies?....what is your purpose of still investigating the WMIL-T when it has been closed, administers removed, and all remaining funds left over given to charity....in short, it is now defunct without funding, or officers, or a trustee to administer it?....do you believe that further recovery is coming, what is your source, other than posters on the message board....Lodas
MODS please sticky note this message 726151 too.Thanks in advance.
CONSERVE & PROTECT FROM MR.FOLSE's WORDS TO MR.SMITH AND MS.LOGAN's APPOINTMENT AS ADMINISTRATORS
In 2010 or 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
-------------------------------------------------------------------------------------------------------
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
In 2012 EC FAQ mentioned about sources of distributions and WMILT
--------------------------------------------------------------------------------------------
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
In 2012 LT Agreement was executed with what Trustee can't touch
---------------------------------------------------------------
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
In 2020 after creditor claims were paid off.
-------------------------------------------
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
RESTATED AND AMENDED LIQUIDATING TRUST AGREEMENT WAS NOT RELEASED TO PUBLIC.
IMO NEW TICKER 1:1 WOULD BE VERY NICE AND PROBABLY WE MIGHT SEE IT SOON.
In 2024 wmitrust.net is still active.
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Moderators Large Green xoom GO4AWILDRIDE stoxjock ron_66271 |
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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