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$4 Billion is the TPS.
Remember the Cayman’s?
I,J,K,L,M.
So seeing JPM’s name is no surprise.
JPM paid $4 Billion back to the Debtor in the 363 Sales for the Exchange Event. That money went into the Retained Earnings.
Yes there is two K’s!
As I understand it, mixed up terminology.
Yes Series R, K, and TPS claims are against Class 22 is settled.
Ron
Read Page One of The Equity Community Presentation.
!Martin Factor!
http://www.sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/POR/WaMu_Closing_Equity_Committee.pdf
Now couple page 1 with 41.6 “Willful Misconduct” releases in Plan 7.
?? Was the “Willful Misconduct” language in AAOC’s Plan 6?
I don’t believe so!
“Willful Misconduct” is code words for Civil RICO.
Payment for WMB and it’s assets is the property of Class 22.
Class 22 has generously compensated Class 19’s claim against Class 22
I know of no reasonable reason as to why CES hasn’t distributed the ~$25 Billion in Retained Earnings.
Ron
Start Reading on PDF 147.
http://wmish.com/docs/transcripts/2010.12.07%20Transcript.pdf
PDF-L#
150-L5 Equity Community Requests.
180-> Read
194-3; Explains JPMC as Preferred Funding owner.
196-L11; Solvent Debtor. Again see Equity Community Presentation.
253-L17; What about Dave?
256-L2; Nate.
More Reading, Less IMO.
510(b) is explained,
Ron
ND9, Do We Know When the Topic of 70/30 Started?
Court documents will show when the 70/30 topic first started. Shortly before that date the Retained Earnings were placed into the Treasury Notes.
Yes this is the correct time period for the eleventh year for maturity.
Ron
Ron
I Thought This Was an Interesting Topic.
MBers acted like they needed more information about the leases.
They told us, just not in the direct language we hoped for.
They are not required to!
Ron
I’m Amazed, Well Not Really.
Why do MBers ask questions about DL!
CES controls the checkbook.
DL just writes the checks.
Ron
Investigate The DS Regarding 365 Sales.
365 Sales are regarding sales of Leases.
Yes the FDIC seized WMB, but the FDIC never had the Title to WMB and it’s assets. Therefore the lease obligation of WMB was transferred to JPM. JPM has been paying for the leases to the Parent and still is.
The FDIC received Title to WMB when the Debtor (WMI) abandoned the Title (the stock) just before implementation of Plan 7.
Remember; WMI/WMIH was/is a Holding Company, Not a Bank Holdings Company.
Also from the Disclosure Statement; see Footnotes for WM Citation and H.S. Home Loan.
Ron
Also Note PDF 1, 2.
The Equity Community was preparing to open the case against JPM/FDIC.
:)
Ron
Same Date for the Transcript.
Start reading at PDF 147.
The request is on PDF 150.
Then jump to PDF 180 and continue reading.
Ron
Thanks JJ. I Had the Year Wrong.
Assets sold in 363 Sales are shown on PDF 20/78.
Example;
Capital Contributions, (Fraudulent Conveyance) $6.5 Billion
BOLI/COLI, $5 Billion
...
This is the money placed into Treasury Notes that became Retained Earnings on the February MOR. PDF 10.
Again, note that the RE are never discussed in the body of the text because the RE didn’t go to the Plan 7 LT.
During the creation of Plan 6, I don’t believe any of us knew about any Liquidating Trust in the Plan.
Why? Because AAOC as impaired Creditors didn’t have to elaborate on the LT. We always wondered how they hid the Sausage.
Simple, The Sausage was placed in a LT during Plan 6.
Now see PDF 76/78;
Liquidating Trust
Yes the Equity Community was granted control of the Liquidating Trust as requested.
The EC then created a new LT for Plan 7 Creditors.
Ron
The Equity Community was Granted Control Of The Liquidating Trust.
The Transcript and Equity Community Presentation Proves that a Liquidating Trust was part of Plan 6, and that the Equity Community was granted control of the Liquidating Trust.
The Equity Community set aside $20.7 Billion in Retained Earnings to be split between Class 19 and Class 22.
Therefore satisfying Class 19’s claim.
Class 19 had a claim against Class 22.
DONE, in principle.
All Court approved in Plan 7.
Plan 7 was to pay the Creditors.
DONE!
The Transcript proves me right!
Ron
Retained Earnings is Your Answer.
Retained Earnings became >part of Plan 7< to satisfy Class 19, but not part of Plan 7 for Creditors.
Note that the February MOR never discussed the Retained Earnings anywhere in the body of the documents text other than the Table on PDF 10.
No explanation of Retained Earnings.
Plan 7 is to pay Creditors.
The 75/25% Sausage lives on.....
The Rest Belongs to Class 22 as owners of the WMI Estate.
Ron
The Bankruptcy Court Only Addressees Creditors.
End Of Argument!
Ron
Wrong Argument.
Plan 7 was approved by the Court to pay Creditors.
Required.
AAOC Plan 6 was the hidden Sausage.
The Hidden Sausage from Equity.
The Equity Community Presentation revealed the first Liquidating Trust.
Were the Prospectus’ canceled with Plan 7????
Yes, No????
And what for?????
Class 19 can’t be Equity without a Prospectus!!!!!
Simple answer; Class 19 has a satisfied claim in principle as approved by the Court.
Retained Earnings satisfies Class 19’s claim against Class 22 with a bonus.
Do the math; ~2.5X greatly satisfies all back interest claims. Another gift from Class 22 to Class 19.
Class 19’s property belongs to Class 19.
Class 22’s property belongs to Class 22.
Very Simple Logic.
Ron
Great Read. Just Let the Jester Finish Her Act.
The Act Is Over. Alice was chasing her own wind.
The Transcript and Equity Community Presentation testimony was already in the record.
THJMW was just asking Alice; What’s your problem? UW’s aren’t getting paid anymore then other claimants in Class 19. Shouldn’t you be happy for them also like you?
Alice’s problem like many here are focused on the Plan 7 LT. The Plan 7 LT was only for the Creditors.
A Trust of Trusts.
The Debtor only needs to show the BK Court How the Debtor has satisfies all the Creditors.
Alice was chasing Small Rabbits.
Ron
Please Better Explain What You are Trying To Say!?
?? Are you saying that the WMI non-Debtor Subs were placed into a trust before BK??
The WMI non-Debtor Subs were addressed, and consolidated into WM Citation and H.S. Home Loan.
No discussion about any Trusts regarding the BK Filing.
?????
The Debtor assets were addressed and became the Retained Earnings with some left over.
Hint; BOLI/COLI....
Are you trying to backdoor your way into ‘knowing all about the trust created by AAOC in Plan 6?’
The very Transcript and Equity Community Presentation that you haven’t read!!!!
Funny stuff!
Like LG’s $7.2 Billion going to the UW’s, as the underwriter for Series R.
The entire Class 19’s Total claim is only $7.5 Billion.
Got links??????????????????
I DoN’t thINk sO!
Ron
Class 19 Had a Claim Against the WMI Estate.
The WMI Estate is Class 22 by definition as “Equity”.
Class 19 , because of BK Preferred could no longer be converted into common Equity. Therefore Class 19 only has a claim against Class 22.
Class 19’s claim is satisfied in principle with a great bonus from 75/25% that ended with the Retained Earnings.
Preferred Funding belongs to Class 19.
Yes I have proven that with links.
Ron
Newflow. That’s Not the Wording from The Transcript.
Your link is not the Transcript.
BBOB needs more help.
Ron
You DIDN’T EXPLAIN YOURSELF.
You made a claim regarding multiple Trusts.
Now prove it!!!!!!!!!!!!!!!!
:)
Ron
Yes I Own Series R.
A nice chunk of P’s.
I’m just being intellectually honest regarding the documentation.
Class 19 has no right to Class 22’s property.
75/25% stops at the Retained Earnings as described February MOR.
Class 22 satisfied Class 19’s claim against Class 22 as the owners of the Debtor’s Estate.
Ron
TOTALLY Incorrect!!
The Underwriter’s were the underwriters for the Series R Preferred. That is why they held P’s.
Class 20 in Plan 6.
Class 19 was the TPS.
Judge ruled that the Exchange Event happened, therefore all the preferred holders were placed into the same class. Class 19 in Plan 7.
Alice’s Court Jester episode...
The best way to handle the Court Jester is let them finish their act.
All over. The Debtor has the money to pay the legal fees.
It’s even more funny that MB posters helped pay the Jester for the episode.
JPM says thank you.
Ron
LG, TOTALLY FICTIONAL NUMBERS.
“Underwriters receive 7.2b plus (no wonder they vigorously fought for it)
Why COOP real value should reach $1000 ?
The answer is ..COOP should own 17.5% of the net worth of the company which is 5.25b (including treasury stock) out of the found value of 30b
The total Series R is only $3 Billion.
The total Class 19 direct claim is $7.5 Billion
As I recall UW claim was $72 million.
Let’s put it this way;
UW will not receive any payment from the FDIC for WMB and it’s assets, other WMI assets.
75/25% stopped at Retained Earnings.
All well documented in the February MOR.
Alice had no Standing or Right to offer a Class 22 claim to the UW.
She can’t give away other people’s property.
She also got zero mileage from the Stipulation argument.
Haven’t read the Transcript and Equity Community Presentation now have you?
Ron
Only Creditor Classes Can Be Impaired!
All Creditors have been satisfied, and are not impaired.
Class 19’s claim against Class 22 is technically satisfied as ruled upon within Plan 7/February MOR.
Class 22 generously guaranteed Class 19’s claim against Class 22.
Ron
Yes, 75/25% of Retained Earnings.
You were told the truth.
The End of 75/25%.
Ron
Please Read the Transcript and Equity Community Presentation.
My post isn’t directed at you Newflow.
>> To the MB!
Plan 7 LT was only for Creditors.
Hint;
The Plan 7 LT is closed. DONE. Completed, and BK assets have not surfaced....
AAOC had already hid the Sausage in the AAOC Plan 6 LT. YES AAOC created a Liquidating Trust in Plan 6.
The Equity Community took control of the Liquidating Trust on December 7th, 2011.
Read the Transcript!
The Equity Community set aside $20.7 Billion in Retained Earnings to generously satisfy Class 19’s claim against Class 22 with a 75% distribution on the fund.
The End of 75/25%.
Class 19 will NOT receive any payment from the WMB Receivership closure. That all belongs to Class 22.
Hint;
The DST is still functioning.
Ron
What is Class 19’s Claim?
Class 19; TPS, Series R, and Series K.
1X Face? , $7.5 Billion?
“2) If you want to believe in the 4.6 par for former preferred, this goes against what Judge Walrath stated in court, "shouldn't I be concerned with someone getting more than they should", so your 4.6 par on preferred goes against what she stated which would not happen ”
What is your number LG?
~60X Face?
Back to point 2!!!
Or just Class 19’s property?
TPS, ~2.5X.
Series R, ~4.6X.
Series K, ~2.5X + their portion of Preferred Funding.
Yes I have proven Series R Performance Payment two ways, and accounted for the 2.5X that Alice only has a ‘source’ for.
Ron
You Haven’t Done Your Homework.
The Transcript and Equity Community Presentation will prove you wrong.
Ron
No Right To Comment.
Read the documents request, then comment.
Ron
LG, Do Your Homework.
AAOC Plan 6 Liquidating Trust.
I have posted the links and PDF pages.
You post to many unrelated, extraneous stuff.
Example;
Ownership Change?!?
Did it happen?
May have!
Documented.
Your argument is braking-down fast because you refuse to read the other documents that don’t support you desired out come.
Ron
Alice’s Stipulation Argument was TOTALLY STUPID.
Where was no issue regarding the Plan 6 vs. Plan 7 Stipulations.
I have posted many times on BP on this topic. JPM was just buying time with the Court Jester. The Jester even got MB Clowns to help pay JPM’s Jester bill.
Ron
The best way to shutdown a Court Jester is to let them finish their act!
The Debtor has plenty of money for legal fees.
LG, Your Points 2 & 6 are in Disagreement.
The Prospectus cancellations was only in regards to the old tradable shares.
Your P’s remain in Class 19 because that is your property. WMI Preferred Funding and 75% of the Retained Earnings
Payment for WMB and it’s assets belongs to Class 22.
You haven’t done your homework.
Ron
Performance Payments Proven!
WMI Series R operates the same way.
December 7, 2011.
Transcript and Equity Community Presentation.
AAOC Plan 6 LT!
Ron
Looks Like the MB is Afraid I’m Right.
The Transcript and Equity Community Presentation is correct.
You not reading the documentation doesn’t change the facts
I confident that you haven’t read the documents I have posted with PDF page numbers is because your opinion would change regarding a “Plan 6 LT” just as mine did.
Now I know where the assets are.
Ron
So, No One Has Done Their Homework!
But still posting about what they don’t know.
The lights will come on after reading PDF150. Start at 147.
Then ~180....
It turned on my lights.
Ron
Yes, Purely Illegal. RICO.
Yes WMI Sued JPM for RICO shortly after the Discovery Document was filed. December 14, 2009.
JPM Settled ASAP.
Remember the Dual Track?
JPM lost in DC.
Not my problem that many of the MB haven’t been able to keep up.
You had the opportunity to read the links.
Ron
I Don’t Know The End Date for Maturity.
Then some process time.
Yes we are very due this distribution.
Come on CES. Due your job!!!!
Ron
Earn the Right to Comment.
You must first read the Transcript and Equity Community Presentation before commenting.
Date and documents given by myself in past posts.
I never said that Plan 6 was approved.
Plan 7 is all about paying the Creditors. DONE!
Hint;
The Equity Community shot down Plan 6.
RE/DCR, the End of 75/25%.
Ron
WMB Stock Abandonment.
The FDIC/JPM didn’t own WMB until WMI abandons the WMB stock to the FDIC.
Remember that; WMB was a “Fifth Amendment Taking”.
WMI never surrendered the Title to WMB.
JPM doesn’t own WMB until JPM pays the FDIC to pay The Owners of the Debtor’s Estate.
Currently JPM only operates WMB until the FDIC is finished processing the final valuation now that the FDIC holds the title.
Now remember the Dual Track?
Ron
ND9, I Don't Know The When.
RE $20.7 Billion, now ~$25 Billion split 75/25 to Class 19/Class 22.
All agreed to with the transition from 6 to 7.
Greatly satisfies Class 19.
Class 22 owns the Debtor’s Estate.
BTW; how about a hint regarding the date? Why then?
Thanks,
Ron
Correct. Plan 7 LT is Only for Creditors.
The Retained Earnings are in Treasury Notes to be distributed 75/25% to satisfy Class 19’s claim against Class 22.
Ron