AZ,

Thank you for your service after all these years.

Would you please, in plain terms, cover what you believe will be the recovery for P, K, and Common?

I only have old PQ. Please throw an old girl a bone with some numbers?

Thanks
-Kel

I have old PQ since 2008. Log time poster, just don't visit that often anymore. Have to keep sadness on the downlow.

Can someone fill me in on the latest with possible distributions news floating around? Possible dates, amounts, cash/shares/etc.

Much appreciation, and all polite feedback/info/theories welcome!!

GLTA!

Don't forget that Melvin is not out yet, when you read any story that they have lost 53% in revenue in January.

They are not out yet, as this is unrealized losses. Posts and headlines like this can be misleading and they need more context.

The sell volume does NOT support their statement they have sold out AT ALL! They refused to provide the news any data or reports to back up this claim.

I feel they have had their news partners post these stories in an attempt to stop the short squeeze on them, or other Hedgies going short on GME...it is inevitable and unstoppable.

The market is in for a wild ride!!!

Luv to all
-K

Contact your Brokerage Firm immediately!!!!

Senator Tom Coburn. Wiki shows he Died: March 28, 2020, Tulsa, OK. Is that the gentleman you are referring to?

Very sad for his family. I hope he has someone to pick up where he left off. Many have died during the past 13 years, waiting for the WAMU saga to end.

May we all have better fortune soon.

Looks like maybe KKR got some COOP w/ a conversion or exercise price of $13.20 ??

Very true, and its meant to be silly. No real DD at all. Just made me laugh.

We all really shouldn't take this so seriously now, since its obviously completely out of our hands. I'm just going to relax and watch the show...

"888"

Something of coincidence - for fun, since we are really so serious lately. I thought this might be a colorful distraction:

(Number 8 Symbology) "The single number 8 is full of energy, as it is an infinite number with no beginning and no end. Therefore, the power of this number is increased <<< 3 FOLD >>> when it presents itself as 888."

---------------------------------------------------
$8.88 vol 800K Today. Multiply 8 X 3 = $24/share. Spooky.
---------------------------------------------------

This is just for laughs people...
<<GLTA x 3>>

My Opinion Only:

To honor the waterfall priority, and allow for all classes to share in the whole pie, per POR7 ruling:

PIERS pmts fulfilled 100%, then waterfall to next class down Preferred, until made 100% whole at PAR, then waterfall goes down further to Preferred/Common pro rata sharing 75%/25%

Again, this is only my opinion based on being here just about daily for 10+ years.

Only time will tell if ANY of us have it at least partially correct.

GLTA!!

What's "steeped?"

POR7 was Confirmed in 2012, thus as a condition of the approval of POR7, ... and yes, as you correctly stated...

"their foundational documents/contracts were cancelled and made null and void in 2012."

POR7 therefore is how we will proceed NOW going fwd regarding these matters since they canceled those certain prior agreements. It is all in there.

Cheers, and good reading...it is over 900 pages!!

..POR7 doc bottom pg. 56 thru top page 57 states in summary:

My Summary - non professional wording: In regard to Preferred Equity Shares: Preferred to receive Pro Rata share of 75% trust when all above classes paid in full.

In regard to Common Equity Shares: Common equity to receive Pro Rata share of 25% of trust when all above classes paid in full.

Basically, Common Receives pro rata portion of 25% of trust when above class Preferred equity and all others above paid in full first. There is no waterfall trigger to Common Equity at 25% until Preferred Equity PAR paid first (ex WAMPQ at $1000 each share.)

Everyone including Preferred Equity has to wait for higher tiers to be paid before waterfall trickles down to the next guy.

Once Preferred Equity PAR paid then all Equity shares 75/25 till the end of Trust bounty.

Am I incorrect in my assumption? I am not any financial or professional person. Read the POR 7 and decide using legal advice.

Final POR7 agreement of Equity Committee/all parties, as an acceptable solution/settlement of issue...signed by Walrath ??

It was some time ago but I was right there and read it when it was released.

Am I incorrect?

It is PAR Value to Preferred FIRST...then 75/25 till the end.

Am I mistaken? I've been here since this POR was passed.

This waterfall should only be triggered if there is enough money in the trust to do so.

As Always, Good Luck To ALL!

Correct statement that they are technically "unaffiliated entities" but...

This does not mean WMIH does not covet the assets of the trust.

WMIH may have ideas to "purchase" the assets in some way, somehow, and "merge" the assets into the "new" company, thus bringing us back into the "family" again.

Any thoughts on this?

---------------------------------------------------------------
** Nothing here but my theories as a non professional...do not use as investment advice. Trust your own research and seek Professional Advice.

jhd51: As a Mod, is there anyway you can sticky the POR 7 or outline the summary of the official approved settlement.

IMHO, I think that may minimize all the rampant speculation on how escrow would be disbursed. If anyone has questions...we can refer them to the sticky??

What are your thoughts? Anyone want to contribute to the sticky or summary of bulletpoints?

Not a Correct Statement concerning Wamu NOW:

Your post below...

"common shareholders own the company. preferred have a face value, which once paid have no more claim, so by default the only stakeholder left to be taken care of is the common...if it's nada, they get nada...if it's boo-coo value they get boo-coo value..there is no one else."

>>> This statement only applies with non bankruptcy companies without special court ordered agreements, thus nullifying your assertion above.

OK...then please explain the 75/25% to me if the pie is already divided as you say via different trusts.

Is this Distribution for "US?"

After receiving any distributions, we each need to contact a TAX EXPERT or ATTORNEY to determine how the tax laws apply to each of our individual tax situations.

No one can tell you how to roll with this until they look at your situation. Different rules apply for different acct types and situations.

I will be doing this ASAP.

NO CAP on Preferred Shares any longer...NONE!

Please refrain from confusing others that may be newer to the board.

In all respect, please lets move on.

Thank you Sir.

GLTA

Gold Nugget this will make all happy:

It is documented and I have read the filings of the final settlement agreement.

In order to have ALL Equity agree to the settlement...Preferred first get made whole. <<PAR>> (poss + back interest Im not sure)

...THEN the waterfall hits 75/25 to all preferred and Commons alike until Fund is Exhausted.

ANYONE Disagrees needs to include link please.

In the span of several years that may be correct...but only over time IMHO.

If a recovery like this is possible, I feel it may be made in payments over time like an annuity pays. Whatever the doing, I will be happy as long as a payment is made to us in FEB.

...a little here...a little there.

<<Never sell your escrow shares - if they become tradable...your family will thank you.>>>

Can we do a guess for Preferred PQ per share distribution we anticipate in Feb, based on a possible 600+M dist.

..just for fun.

IMHO: Management never straight-out "lies," because of legal ramifications...they just use certain language to hide their real agenda.

M/A did "fail." No lie there...

"They" may have never planned/expected it to be completed at all.

"We," outside the know, will never know the truth discussed behind closed doors. "We" can only make logical guesses based on "their" ACTIONS and eventual OUTCOME.

What do you all think??

HA! That's exactly what my husband said!!! LOL!

Enjoy this old article link...read...very interesting...If not just simply for entertainment purposes.

I have held on to this article I found many, many years ago, and I would like to share...I have been with everyone here for 9 years from the beginning.

It is regarding what to do when you receive a large inheritance or multi million dollar stock/lottery win. It also goes over pitfalls and mistakes many have made when receiving large sums of money without professional counsel.

https://www.ar15.com/forums/general/-/5-749519/?page=1

The first advice is to NOT TELL ANYONE IN YOUR FAMILY YOU HAVE THE MONEY until you retain a lawyer, a tax accountant, and create trust funds for your family, dictating how money will be disbursed for their care.

I am not a professional anything, so don't take my word for financial advice, until you speak with a professional, but ... Some of the investment advice is outdated now about investing a portion of your money in Bonds, since bonds NOW pay a NEGATIVE Yield, (meaning you have to pay to play) and not a good idea to put your money into at the moment. Instead, check out REIT's that pay a Yield, for that portion of the investments, or some other conservative vehicle.

The rest of the advice is pretty good IMHO. Start to do your own DD.

GLTA!!

Based only on my prior experience with these types of offers/exchanges, we will be completely in the dark, until it is officially announced through our brokerages, that an exchange is waiting for us. We don't even know if or when this would ever happen.

Totally unfair I know, but what can we do...

TENDER OFFER:

This means cash is going to be offered/exchanged for stock or escrow markers period.

EXCHANGE OFFER:

This means value for value exchange of a non cash transaction or stock exchange.

Either can mean the company will be taken private or merged or paid out/bought out per prior arrangement between company and behind the scenes parties.

>>> I have been through a TENDER OFFER before when I owned stock in a Shipping Company and was bought out by Chinese firm. I received a large check in exchange for my stock and the US company was "DELISTED."

Just my guess here but I know etrade does that automatically if you have a certain dollar amt in your acct. Ive been having them contact me quarterly to be my personal planner for many years.

But I really hope he is a courtin' cause WMIH is gonna take off. I think that may fall under insider information and I don't think the low level brokers know anything more than we do here.

GLTA
-Kelly

I will NEVER trade or sell my escrow marker no matter what. Anyone who is thinking about this option needs to SERIOUSLY consult with their broker AND hire a tax accountant AND Lawyer for advice.

In my opinion only, this possible income stream, to us that HOLD long term, would be like a sort of Lottery ANNUITY for YEARS to COME.

Why would anyone want to give away so cheaply. If ever an option...Please get advise before you ever consider.

Best Wishes and Good Luck to All.
-Kelly

If we are sent checks, ETC...then as soon as you receive the money, it is called income.

You will pay tax on this disbursement as income. The rate would be 15% on up to 450K, then after that at 20%

There is only one way you do not pay taxes...If you had your wamu stock initially in your Roth IRA and then they converted to Escrow shares... the escrow shares are still listed inside the protection of Roth IRA. Once disbursements are made...the funds stay inside the Roth IRA.

based on Roth IRA guidelines...

If you are allowed by the IRS to take that money out of your Roth...then no tax.

If this is huge...I will hire A LAWYER, A tax Account and security.

Please don't rely on what I say here...please everyone at lest see tax accountants for Answers.

Very True

So how are you going to enforce this transfer of funds if the person leaves the country or "disappears" or changes his mind?

Sounds to me like this would be a risky situation to put yourself in. I could see future legal issues in your future if you sign a contract to receive funds and the person later declines to turn over the money.

Are you ready to possibly risk legal battles for another few years?

I would not do this myself, but wish you the best of luck with the sale.

I was under the impression Escrows were NOT able to be traded/sold/transferred...unless you die and your beneficiary takes over the acct.

Am I wrong??

Why is there a discussion about buying someone else's Escrow shares? Please explain how you are going to do this please.

I strongly remember that once held property is liquidated for cash, we get the cash trickled down to our accounts, in exchange for each Escrow share.

We get cash, not shares or warrants.

Am I wrong??

Thanks Royal!! I appreciate your DD.

Can you tell me more about the interesting findings thru this backdoor? Thanks!

Thanks for the Great Fact checking.

I WAS CERTAIN I SAW THIS DOCUMENT A WHILE AGO, STATING THAT PIERS GETS PAID IN FULL, THEN WATERFALL TO PQ/KQ. What goes to Common shares depends on many factors.

### Common only receives pmt if So given the terms of the capital trust, the one billion if collected should be split among the P s and K's and the old wmi common wouldn't be entitled to it. In other words, after the piers are paid p's and k's split the first billion then and only then commons only get 25 per cent of anything if over a billion.

### If there is less than 100 million as reported by the liquidating trust, currently the commons would not get anything. OR given that P, K and common were provided for elsewhere in the Plan. does Claim 2134 proceeds go to wmih indirectly as owner of the common stock of the Capital Trust? I have no definitive answer because the POR is vague on the issue. This is from the wmilt website


http://www.kccllc.net/documents/8817600/8817600120326000000000002.pdf

I always thought the Preferred shares were no cap, and common shares max out at only at 25% of Par Value for commons.