Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
WMI chapter 11 process has long been terminated.
WMB receivership by the FDIC is still ongoing but they have stated multiple times that there will not be any payments to equity, because there are bns of bonds which have prior claims to any assets.
simple fact that the Ch 11 process has been terminated for the holdco.
Underwriters did NOT want a claim in the lower class.
They made a claim in both classes and their Class 18 claim was disallowed - while their Class 19 was allowed.
The Ch 11 process for the holding company has long been terminated - there are no values left.
yep, they didnt manage any money - but made plenty of money for themselves
Not sure
A&Ms contract got terminated last year I think as all they did was to provide personnel to the Lt which was no longer needed.
Escrows have been deleted weeks ago - so how could anyone make an offer to anyone to sell non-existent Escrows?
No, he hasn’t shown anything to be false.
He just made another unsubstantiated claim, like he did the day when Escrows got cancelled, although he had made another claim before that they couldn’t be cancelled.
Etc.
The holding company WMI never had 299 B in bank accounts or anywhere else.
WMB had assets of 299 b and liabilities of 250 or 260 b - which both went to jpm
Awesome - this should be stickied
‘the liquidating trust can go ahead and pursue them’
But the LT has not pursued these claims and cannot pursue them going forward because it will no longer exist.
of course this has nothing to do with COOP whatsoever- but it creates a nice Q3 2022 deadline
Its just the LT‘s old former website, which was taken offline a few weeks ago - as had been stated well in advance by the LT.
Thanks, I had exactly the same thought.
Response from TD simply confirmed that the LT asked for Escrows to be deleted and that there was no connection to COOP - both are facts which had been stated many times before.
They didnt manage any assets, they provided personel to the LT including the CFO and charged very handsomely for this
They provided personnel to the LT including the CFO, who charged hundreds $ per hour
If it takes between 1 and 14 days for this capital measure, then it should be pretty obvious by the end of this week whether any capital measure has actually taken place
Or not
Customer deposits are liabilities for the bank, because the bank needs to repay them
No, not wrong - straight from the 10q
https://www.sec.gov/Archives/edgar/data/933136/000104746908009146/a2187197z10-q.htm
WMI had 309bn assets and 283bn liabilities in June 08.
Yes, that‘s effectively what Az is saying.
COOP could have already easily triggered this „debentures“ clause through a reverse stock split to bring the pps above 50 if they wanted - or they could keep the price below the 50 forever through one or more stock splits.
Who would believe that?
This theory has been propagated so many times that people now assume it to be true.
It‘s not true of course but that doesnt matter, like in the case of so many other theories…
The only thing which COOP will reveal in the 10-K is its own financial performance in 2021.
Nothing else - as with any other financial report before.
How can you continue to make these nonsensical claims about holy grail etc?
This is a merger of two regional banks without any link whatsoever to WMI
JPM also assumed over 250bn of WMB liabilities, the bulk of which were customer deposits.
No, its not.
COOP is already using the NOLs and is not paying federal taxes.
The idea of COOP selectively issuing shares to some investors makes no sense.
It was always clear that these WMB bonds were not JPM‘s responsibility, otherwise they wouldn‘t have traded at pennies on the dollar…
Why don‘t you just say what these recent updates were, which apparently only you are able to see?
What‘s keeping you from telling everybody?
Why don‘t you provide some details on the ‘recent WMB Notes Broker Directives' that have been given to the Direct Owners' (like AZ)…’?
What is actually in them, given that it has been known for 13 years that they are the sole responsibility of the FDIC and not JPM?
You wont get an answer, because there have been no changes to these notes.
It was clear from the beginning that these would not have to be repaid by JPM, that‘ s why they have always been trading at single pennies to the dollar.
They are the responsibility of the FDIC, who doesn‘t have the money to pay them.
COOP has to reach 50 bucks for 6 weeks first
At least that‘s what someone on this board claims who knows everything….
Why do you make up a statement like ‘WMIIC is now free to distribute now that Globic is finished’?
WMIIC can’t distribute anything because it simply doesn’t exist anymore; it was dissolved 2018 i.e. almost 4 years ago. It also had no assets at the time of its dissolution.
https://www.prnewswire.com/news-releases/wmih-corp-announces-dissolution-of-wmi-investment-corp-300584678.html
How can you not know that COOP doesn’t OWN any mortgages?
It only services them for a small fee so it never had to have any funds to acquire them…
How can you continue to make up these things?
Isn‘t it time to finally acknowledge some simple, easily verifiable facts such as the number of shares outstanding instead of these incessant make-believe stories?
Of course we know this - she wrote it in her court filings
She never actually spoke to „the source“ herself…
You‘re really asking if I made things up, because you didnt read two simple 8Ks: One in Aug announcing the buy back from KKR and the other in Sep clarifying the new number of shares after the acquired shares had been cancelled?
https://investors.mrcoopergroup.com/financials/sec-filings/default.aspx
Because I can read
Unless you believe that the buy back from KKR was just invented (which would mean KKR would still hold the shares which COOP has claimed to have bought back)
In which case you should probably let the SEC know