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Moron working 24X7 with no stake the subject talking about...loda kb is quite.
AI -Based on the search results provided, Liquidating Trust Interests refer to the beneficial interests issued by the WMI Liquidating Trust to creditors and former equity holders of Washington Mutual, Inc. (WMI) in exchange for their claims against or equity interests in WMI under WMI's Chapter 11 bankruptcy plan that became effective on March 19, 2012.
The key points regarding Liquidating Trust Interests are:
They represent beneficial interests in the WMI Liquidating Trust, which was established to liquidate and distribute certain assets of WMI to its creditors and former shareholders under the bankruptcy plan.
Liquidating Trust Interests were issued to holders of allowed claims against WMI (creditors) and former WMI shareholders in exchange for their claims/equity interests in WMI.
Holders of Liquidating Trust Interests are entitled to receive pro rata distributions from the assets held by the Liquidating Trust as they are monetized and distributed.
Liquidating Trust Interests are generally non-transferable except by will, intestate succession or operation of law.
So in essence, Liquidating Trust Interests represent the new securities issued to WMI's pre-bankruptcy creditors and shareholders, entitling them to a pro rata share of the distributions from the Liquidating Trust's assets under WMI's confirmed Chapter 11 plan.
How about W-9s?. Did they delete those too?. You have any clue?.
Liquidating Trust Interests
On March 19, 2012 (the “Effective Date”), the Debtors’ Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, as modified by the Modification of Seventh Amended Plan dated January 9, 2012, the Second Modification of Seventh Amended Plan dated January 12, 2012, and the Third Modification of Seventh Amended Plan dated February 16, 2012 (collectively, the “Plan”) became effective and, pursuant to the Plan, certain of the Debtors’ assets were transferred to the WMI Liquidating Trust for the benefit of certain holders of claims against, or equity interests in, the Debtors. Such claim and equity interest holders (the “Liquidating Trust Beneficiaries”) are being issued beneficial interests in the WMI Liquidating Trust (each such interest, a “Liquidating Trust Interest”) in exchange for their claims against, or equity interests in, the Debtors. The Agreement provides that the Liquidating Trust Interests are not transferable except by will, intestate succession or operation of law. Pursuant to the Agreement, the Liquidating Trustee will be responsible for liquidating, converting to cash and distributing the Liquidating Trust Assets to the Liquidating Trust Beneficiaries in accordance with the distribution procedures and priorities set forth in the Agreement. These distribution procedures include a reserve mechanism to allow for the resolution of claims that are disputed, in whole or in part, as of the Effective Date and the issuance of Liquidating Trust Interests and Runoff Notes in respect thereof if and when such claims are allowed.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000131/mm03-2312wlt_8k.htm
uptick... why were there four EC members on TAB?.I AM SORRY YOU MISSED THE BOAT.
uptick... did they show you the amended and restated liquidating trust agreement? what were they hiding?
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm
Did not they say that?. LOL.
Its not a fantasyland, it was a 100 year old company with too many assets which were about to be stolen by AAOC and other institutions.
You can call it a lie, but technically it was not.They informed everybody that there was no money coming from WMILT in Jan 2020, and they cancelled WMILT in Dec 2021.WMILT was under administration since Jan 2020.They had to go thru the original books and records, valuing and monetizing assets during administration. Other way was to consolidate into another entity. Why would any bk 11 company say that there is so much value to be distributed come and buy stock for pennies and make millions?.All they did was submitted to court Assets = $33 B and Liabilities = $7.5 B.
Why would they inform you money is coming?. Is n't it senseless?
reiko...should we read page 4 or no?. ...""Pursuant to the plan,the liquidating trust assets are treated, for U.S. Federal income tax purposes, as having been transferred directly to the holders of claims or equity interests in satisfaction of their claims or cancellation of their equity interests"
Page 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
loda kb u are full of _ _ _ "adjudicated" read page 69
Then, how is WAMU making money for JPM?.If it was a failure business?
Are you from Oregon?. Yes they are in sync. Mr. Cooper with DB Cooper who jumped, WAND Merger and Paladin.
reiko...""Pursuant to the plan,the liquidating trust assets are treated, for U.S. Federal income tax purposes, as having been transferred directly to the holders of claims or equity interests in satisfaction of their claims or cancellation of their equity interests"
Page 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
Should we read page 4 or not?.
reiko..that means we should read page 4?.
loda k b u have problem in speaking truth. reiko read page 4 what did they exchange for cancelled equity.
COOP is using equity assets. What is Steven Scwieve doing at COOP as a director?. Whose interests he/she represents?.
loda kb "adjudicated" page 69 full of _ _ _
Deposits are not assets, but liabilities. WMB had $158 B in insured deposits and $30 B uninsured deposits. JPM paid 1% premium of $1.88 B for those deposits to FDIC. WMB had overall $350 B in assets and $266 B in liabilities. There was $80 to $90 B equity.
BUT THE ASSETS WERE NORTH OF $330 BILLION RON. WMB fsb.
FILED IN 2020, BUT TALKED ABOUT EQUITY?? WHY??
yeah this case was filed in 2008.
FORM 8937 FILED BY COOP - https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
I SENT SEVERAL EMAILS TO COOP ASKING ABOUT PAGE 4/5 REGARDING LTIs EXCHANGED IN CANCELLATION OF EQUITY.THEY ARE NOT RESPONDING AND I SUSPECT THERE IS SOMETHING GOING ON.WHY STEVEN SCHWIVE STILL WORKING AS A DIRECTOR AT COOP?.WHOSE INTERESTS HE IS REPRESENTING?.TAGAR OLSON REPRESENTS KKRs.
loda k b - "this is one who will not defend his viewpoint, but hide behind denial."....loda k b.
Senate Banking Committee Chair calls for ‘new leadership’ at the FDIC following scathing report
https://www.cnn.com/2024/05/20/economy/fdic-chair-gruenberg-senate-banking-committee/index.html
loda k b u know nothing.You can't speak truth.
They are pumping it, wait for they start shorting it soon once the interests rates start declining imo.But i missed all this action.
loda why did coop filed this in year 2020 about EQUITY?. "Pursuant to the plan,the liquidating trust assets are treated, for U.S. Federal income tax purposes, as having been transferred directly to the holders of claims or equity interests in satisfaction of their claims or cancellation of their equity interests"
Page 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
No problem, you are welcome Bill.
WROTE TO COOP ABOUT 8953 FORM FILED BY COOP AND LTIs - 5 emails sofar.
https://investors.mrcoopergroup.com/shareholder-information/irs-forms-8937/default.aspx
Particularly about LTIs and the language mentioned on page 4.I asked the same to loda too.Both did not respond yet.
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
WINK WINK or PANDORA BOX??
I am always in disagreement with liers.
FILED IN 2020.
loda page 4 https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
SAYS IT ALL.OTHER THAN ASSETS ALLOCATED TO DEE.IN CANCELLATION OF EQUITY.EOM.
Tax Withholdings by Liquidating Trustee. The Liquidating Trustee may withhold and pay to the appropriate Tax Authority all amounts required to be withheld pursuant to the IRC or any provision of any foreign, state or local tax law with respect to any payment or distribution to the holders of Liquidating Trust Interests. All such amounts withheld and paid to the appropriate Tax Authority (or placed in escrow pending resolution of the need to withhold) shall be treated as amounts distributed to such holders of Liquidating Trust Interests for all purposes of the Trust Agreement. The Liquidating Trustee shall be authorized to collect such tax information from the holders of Liquidating Trust Interests (including, without limitation, social security numbers or other tax identification numbers) as in its sole discretion the Liquidating Trustee deems necessary to effectuate the Plan, the Confirmation Order, and the Trust Agreement. In order to receive distributions under the Plan, all holders of Liquidating Trust Interests (including, without limitation, holders of Allowed Senior Notes Claims, Allowed Senior Subordinated Notes Claims, Allowed CCB-1 Guarantees Claims, Allowed CCB-2 Guarantees Claims, Allowed General Unsecured Claims, Allowed Late-Filed Claims, Allowed PIERS Claims, Allowed WMB Senior Notes Claims, Allowed Preferred Equity Interests, Allowed Common Equity Interests, holders of Dime Warrants, and Accepting Non-Filing WMB Senior Note Holders, who in each case, deliver a release in accordance with the provisions of Section 41.6 of the Plan) shall be required to identify themselves to the Liquidating Trustee and provide tax information and the specifics of their holdings, to the extent the Liquidating Trustee deems appropriate in the manner and in accordance with the procedures from time to time established by the Liquidating Trustee for these purposes. This identification requirement generally applies to all holders, including those who hold their Claims in “street name.”
So they maintain those LTIs in a BOOK ENTRY.
Mr. Folse talked in the court around $30 Billion or more down the road paid out by somebody.I think thats a very reasonable number to start with.
Who are the beneficiaries receiving assets as per this? " Liquidating Trust Beneficiaries are deemed to receive the Liquidating Trust Assets in accordance with the provisions of this Trust Agreement, the Plan and the Confirmation Order in exchange for their Allowed Claims or Equity Interests, as applicable, without further obligation or liability of any kind, but subject to the provisions of this Trust Agreement."
Ans: This excerpt from the WMI Liquidating Trust Agreement defines who receives assets from the Trust and how they qualify:
Beneficiaries:
The document refers to them as "Liquidating Trust Beneficiaries." These are the individuals or entities entitled to receive a portion of the assets after the Trust liquidates (sells) its holdings.
Basis for Receiving Assets:
Beneficiary status is linked to having either "Allowed Claims" or "Equity Interests."
Allowed Claims: This likely refers to creditors of Washington Mutual (WM) or its subsidiaries who had valid outstanding debts when the company went into bankruptcy. The Trust might distribute assets to these creditors in partial or full satisfaction of their claims.
Equity Interests: This refers to shareholders of Washington Mutual before the bankruptcy. The Trust might distribute assets to these former shareholders based on their ownership stake at the time.
Distribution Details:
The specific terms for how assets are distributed are outlined in three documents:
This Trust Agreement: This document details the rules and procedures governing the Trust, including the process for distributing assets.
The Plan: This likely refers to the official plan approved by the court outlining the liquidation process for Washington Mutual's assets. It would specify how much of the Trust's holdings would be allocated to different classes of claims or equity interests.
Confirmation Order: This is a court order that formally approves the plan, making it legally binding.
Key Points:
Beneficiaries receive assets based on their claims or equity interests.
The exact distribution details are determined by the Trust Agreement, Plan, and Confirmation Order.
Once beneficiaries receive their share, they have no further obligations or liabilities related to the Trust.
It's important to note:
This excerpt doesn't specify the proportion of assets each beneficiary receives.
The specific details of who qualifies as a beneficiary and how much they receive would depend on the terms outlined in the Plan and Confirmation Order.
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So based on this, equity holders received Liquidating Trust Interests which are maintained in book entry form?
Based on the information provided and the excerpt from the WMI Liquidating Trust Agreement, it's highly likely that equity holders received Liquidating Trust Interests which are maintained in book-entry form. Here's why:
No mention of physical certificates: The excerpt describes ownership being recorded electronically in a book-entry system. This suggests there are no physical certificates issued for Liquidating Trust Interests.
Focus on book-entry system: The document emphasizes the book-entry system as the primary evidence of ownership for Liquidating Trust Interests.
Distribution to former equity holders: While the excerpt doesn't explicitly state "equity holders receive Liquidating Trust Interests," previous discussions mentioned a distribution of newly issued shares to some former equity holders. This suggests a connection between former equity and the Trust.
I do. BF discouraged equity, tried to pump prefferreds.
WMMSC was merged into JPM in 2008-2009, JPM valued it at that time $15 Billion,if i am correct. WMB was valued by Cleveland Fed around $80 Billion. Its peanuts for JPM or other entity to merge with hush money.
Interest on Liquidating Trust Interests. As set forth in the Plan, interest shall not accrue and be paid on the Liquidating Trust Interests themselves, but only with respect to and to the extent provided in the Plan with respect to an Allowed Claim (“Interest”). Interest may, as an incremental adjustment on the maximum amount the Liquidating Trust distributes in respect of a Liquidating Trust Interest, accrue up to and including the date of final payment in full of the Allowed Claim related to the Liquidating Trust Interest as provided in the Plan.
Claims get interest
Equity beneficiaries no interest.