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I've been sitting on this stock for a while too.
some highlights,
There was a slow but steady build up of positions awhile back.
Continued talk of a contract renewal coming up in March, especially with the new push for green tech.
Also the company updated the last four years of annual reports with the state recently.
https://www.sosnc.gov/online_services/business_registration/annual_report/5394046
As to what's really behind this? your guess is as good as mine
good luck
much less due to FJR ruling long ago
their total balance was around $240M
last quarterly report - 7/30/2015
doc #12077 pg18
projected ending balance $51,389,448
seems like a partial call on the remaining shares of runoff notes
it's from a seekingalpha article from last month
www.wmitrust.com
SPECIAL ANNOUNCEMENT DATED 10/24/2014:
NO DISTRIBUTIONS WILL BE MADE TO HOLDERS OF LTIs ON NOVEMBER 1, 2014. UPDATED LIQUIDATING TRUST INTEREST STATEMENTS FOR MEMBERS OF CLASSES 2 SENIOR FLOATING RATE NOTES, 12, AND 16 WILL BE MAILED BEGINNING NOVEMBER 7, 2014.
DNU,
from quarterly report:
$60.6m to piers
original balance $240.1m
so distribution will be about 60.6/240.1 = ~25.2% of total claim
DNU, I think we will get a check in the mail.
distribution.
from page 10 of pdf:
Note 3: Distributions to LTI Holders
The Plan and Liquidating Trust Agreement provide that the Liquidating Trustee will make distribution on at least a quarterly basis, subject to certain exceptions. The next scheduled Distribution Date is August 1, 2014. The Trust will distribute approximately $78.4 million to LTI holders. The principal source of the funds includes the receipt of $44.7 million from the Tax Refund Escrow (see Note 6), a release of $48.4 million from the DCR as a result of the application of the 502(bX7) Cap (see Note 9) and other miscellaneous items; however, such amount to be distributed includes a holdback of $15.6 million (in addition to $7.2 million held back in prior quarters) to fully fund the Trust's operating budget on an as-extended basis and reserve for additional contingencies.
I just checked. About 3/4 were replaced with cash at par
thanks
Scottrade informed me that the CB7A8 would be called on 7/15. I spoke with two reps, but neither knew exactly at what price.
Well, In my case, value does not equal quantity. Otherwise the $/share = 1
Regardless, I will find out soon enough
the quantity shown in my account has an assigned market value.
so I divided, that is $/share = value/qty
It's probably still wrong, last week it was about $0.15/share
Received a call from Scottrade this morning informing me that senior bonds are being called on 7/15. They weren't sure about rate, but currently showing a market value of $0.858/share
None so far.
when I select one of the symbols (CB7A8, CB0B6), it brings up a search screen, as if the symbol cannot be found.
Besides the interest in cash and PIK, they now also show a market value (I think it's wrong). hopefully they will get their act together soon.
my Scottrade account is showing a market value of ~$0.1488/share for 1st lien, and ~$0.1187/share for 2nd lien notes.
I guess they're still trying to get these in order.
WMI Liquidating Trust Announces Distribution Of Approximately $17 Million
http://www.prnewswire.com/news-releases/wmi-liquidating-trust-announces-distribution-of-approximately-17-million-229758441.html
From the last Quaterly report
PIERS are definitely a part of Trance 4
WMI Liquidating Trust
Next Dollar Analysis - Projected LTi Balance after August 1, 2013 Distributions
Remaining aggregate Distribution
Distribution Description
LTI Distribution Recipient (1)(2)
-------------------------------------------------------
Up to $16,923,393
Until LTI holders of CCBs claims are paid in full
CCB CUSIPs 96.30%
General Unsecured Claims 3.70%
-------------------------------------------------------
$16,923,394 - $74,277,519
Until Debtor begins to pay actual post-petition interest as pposed to by reason of contractual subordination
General Unsecured Claims 3.56%
PIERS CUSIPs 96.42%
-------------------------------------------------------
$74,277,520 - $311,199,502
Until LTl holders oi Remaining Post-Petition interest, PIERS and GUC are paid in full
Remaining Post Petition 19.63%
interest Claim -- Senior Floating
General Unsecured Claims 3.58%
PIERS CUSlPs 76.78%
-------------------------------------------------------
NOTES:
(1) The percentages represent the percentage of each incremental distributed dollar each group would receive. The percentages represent the
group in total. Due to various elements including, but not limited to, the pro rata calculation on interest versus principal and the timing of the
allowance of a claim, the percentage for an individual claim and/or group will vary from the group's total percentage.
(2) The disputed claims (on an "as ii allowed" basis) are included in the General Unsecured Claims percentages.
yes, that's a good start.
from docket #11341:
"34. Through the resolution of Disputed Claims and distribution of Trust assets, the Trust has distributed approximately $572 million to holders of Liquidating Trust Interests since the creation of the Trust. As of August 1, 2013, Tranches 1 and 2 of the Plan’s Waterfall Recovery Matrix have been paid in full, and only $16.9 million of Tranche 3 remains to be paid before creditors in Tranches 4a and 4b will receive distributions."
"35. As discussed more fully below, distribution of the $67 million in excess reserves as contemplated herein would enable the Trust to pay Tranche 3 in full and the vast majority of Tranche 4a. And, notably, to the extent that Tranche 3 is paid in full, Section 31.14 and Articles XIX and XX of the Plan provide that the Trust can distribute Runoff Notes with a face value of approximately $117 million as of June 30, 2013 to holders of Liquidating Trust Interests. Thus, absent other relief being granted by the Court, granting the relief requested herein could make available for distribution assets in excess of $184 million."
So, if the the judge signs off on release of some claims reserve, it could be up to $184 million
Looks like GS matter was rescheduled again.
docket #11288
Notice of Agenda of Matters Scheduled for Hearing on June 24, 2013 at 10:30 a.m. (EDT)
26. Motion by WMI Liquidating Trust for an Order Authorizing an Examination of Goldman Sachs Pursuant to Bankruptcy Rule 2004 [Docket No. 10869; ?led 11/30/12]
Objection Deadline: December 20, 2012 at 4:00 p.m. (EST);
Extended to February 13, 2013 at 4:00 pm. (EST);
Extended to April 15, 2013 for Goldman Sachs;
Extended to June 17, 2013 for Goldman Sachs;
Extended to July 18, 2013 for Goldman Sachs
Objections/Responses Received: None to date.
Related Documents:
Status: The hearing regarding this matter is continued to July 25, 2013 at 10:30 a.m. (EDT).
yes. great news. former employees are now in the plan trust
another quarter bites the dust.
from 3/31/2013 quarterly report:
"The Plan and Liquidating Trust Agreement provides direction that the Liquidating Trustee will make distributions
on at least a quarterly basis, subject to certain exceptions.
The next quarterly Distribution Date is May 1, 2013. The Trust is scheduled to distribute $22.4 million effective as
of the Distribution Date. The primary sources for the May distribution are the receipt of $24.8 million on account of
interest on, and a partial redemption of, First Lien Runoff Notes (as de?ned in the Plan) held by the Trust; the
release of $14.2 million on account of claimants who did not provide releases required under the Plan as a condition
for distributions under the Plan; and $5.6 million released from the DCR. The Trust has determined to withhold
funds for the future costs of operations and to support potential litigation regarding disputed claims."
This should be good for us.
They had two unresolved claims, a class 18 for 24M, and a class 19 for 72M.
They accepted the settlement terms, which disallowed the class 18 and allowed the class 19 in full.
unless their case was hopeless and they just settled, I would think that they believe that a future recovery in either of the class 19 LTI and/or WMIH shares is likely.
Judge Keeps Hope Alive for WaMu Investors
http://www.courthousenews.com/2012/10/04/50957.htm
I give these guys credit, they just keep on fighting. They might get JPM yet
Withdrawal of Claim(s): 27876 on behalf of Barclays Bank PLC
185M approx, sounds like alot, but in this BK, it isn't much, lol
yes I thought it would be a little more too.
it looks like they are pacing themselves
2nd distribution $10.2B
docket #31082
these requests are for Plan Trust beneficiaries.
I haven't received my letters yet, the ones I read were downloaded from lehman-docket , bottom of home page.
they're for prefs and commons, and the letters definitely mention W-9 requests. I'm not sure what to make of this. It could just be housekeeping for next year, but then I would have expected similar letters for CTs.
glta
hopefully.
up until now, tax forms have only been requested from elgible creditors.
we have time
from the letter:
Your completed tax form should be returned to Computershare Trust Company, N.A.
(“Computershare”), LBHI’s transfer agent for preferred stock, at the following address:
Computershare Investor Services
P.O. Box 43078
Providence, RI 02940-3078
If you have any questions regarding this request, please contact Computershare at:
877-373-6374.
Within seventy-five (75) days following the end of the calendar year or as soon as
practicable thereafter, the trustees of the LBHI Plan Trust will furnish the beneficiaries the
information regarding the income, gain, loss, deduction or credit (if any) of the LBHI Plan Trust
(as computed for U.S. federal income tax purposes) for the calendar year just ended, by posting
such information at the world wide web site maintained by Epiq (www.lehman-docket.com).
yes it is. also, the fact that they are asking for W9s from the people in the Plan Trust is interesting.
The IRS Circular 230 Notice is posted on the bottom of the main page of Lehman Docket.
yes I agree.
they seem to have gone out of their way to keep class 10 alive, but yet out of the money.
hopefully this plays out.
so far though, all LBHI creditors above class 10 have received a percentage of their allowed claims
per the distribution filing on 4.11.12 (Doc#27312)
Percentage of
Allowed Claim (1)
Lehman Brothers Holdings Inc.
Class 3 Senior Unsecured Claims 6.02%
Class 4A Senior Affiliate Claims 4.62%
Class 4B Senior Affiliate Guarantee Claims 4.51%
Class 5 Senior Third-Party Guarantee Claims 3.61%
Class 6A Convenience Claims 26.00%
Class 6B Guarantee Convenience Claims 17.00%
Class 7 General Unsecured Claims 5.66%
Class 8 Affiliate Claims 4.25%
Class 9A Third-Party Guarantee Claims other than those of the RACERS Trusts 3.40%
Class 9B Third Party Guarantee Claims of the RACERS Trusts 2.07%
Class 10A Subordinated Class 10A Claims N/A (2)
Class 10B Subordinated Class 10B Claims N/A (2)
Class 10C Subordinated Class 10C Claims N/A (2)
(1)"N/A" indicates either $0 available cash for Distributions or $0 in Allowed Claims within the specific Class
(2)Distributions reallocated in accordance with Section 6.4 of the Plan
(3)In accordance with sections 6.5(b) and 6.5 (c) of the Plan, LBHI is participating in Distributions in the amount and to the extent set forth on Page 4 of the Debtor's Claims Schedule
well not the claim, but the reserve is released. so the LT should be able to start making payments again, pending the Judge's signature.
with the MBS claim removed, it looks like we're just waiting on the Judge's signature
anyone know where the uq board moved to?
I have a similar history in my account
Date, Settlement Date, Symbol, Description, Commission/Fees, Interest, Amount, Avg Price
3/27/2012 3/27/2012 WAHU.C4 REDEMPTION/TENDER OF xxxx SHARES OF WAHU.C4 $0.00 $0.00 $0.00 No
Did you notice the difference in LEHLQ?
it states: "Plan of Bankruptcy Effective. All shares have been effecitve.**"
it's probably a typo. they didn't even spell it correctly.