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Yea.. so even if coop goes to 60 to 100.. old timers holding coop shares would still be way below F&R if nothing comes through escrows.. coop would need to hit.. several hundred dollars to resemble anything close to F&R...
Oh yea definitely gonna hold the wmih turned coop shares that were given to us.. but tough to think of buying more.. and coop.. would need to rise maybe 10, 20 or 50x for what would amount to a F&R share price for legacy holders.
was just thinking the same thing..
most legacy holders already 'invested' enough before and during the BK.. and we still don't have our F&R as far as many of us are concerned..
not sure dumping more $ into coop will help us get any closer to F&R.. could be another money sucking pit..
hear hear
Yup.. even if coop became a 10 bagger from current prices.. legacy holders would have still been at an enormous loss.. considering all the reverse splits.
and what a disappointment our WMIH shares have been so far.. COOP would need to be in the hundreds of dollars per share to resemble anything worth calling F&R (.. If nothing comes from escrows)
I'll believe it when the wmilt says it is so! Fingers crossed..
Hopefully theres some news before Sept 26.. as the court dates are often anti climatic with just the judge and Rosen chatting with each other.
Yup. hopefully the wind blows back at them hard.
Makes you think if they had paid us when we released 7 years ago.. say even at par.. 10B?. none would have been wiser and most of us would have moved on.. now at possibly the 11th hour this could potentially blow up in their face
settling would be smart.. but they might use all the resources they have to fight bopfan.
though.. if say they offered 30B (i.e. what Dimon accidentally found in the ashes of WMI).. that would probably put an end to this saga.. and they would still have pocketed tens of billions behind the scenes..
Par for preferreds would be a nice start..
foot note on Alice's page 3.. amusing:
"Again, given that WMI’s senior management understood that the banking entities were subject to seizure by the FDIC and that their wealth in WMI equity could disappear along with such a seizure, human nature suggests it is unlikely that these managers left the lion’s share of MBS assets in the names of the banking entities. Stupidity is a possible answer, but not a likely one. "
I wonder that too.. when has he ever tried vouching for equity in the past decade..?
Hopefully at least the 10b.. which would make legacy preferreds whole..
is it possible Rosen announces motion to close BK at this hearing??.. still another 1.5 month
$3k / p would be nice..
Yea walrath herself mentioned the 10b. P's deserve at least par..
hopefully BR is getting ready to file paperwork to close the BK in the next month or two then..
Sure hope so.. 20B will make all flavors of old equity wet.. hopefully there will be certainty before years end..
Wasn't there supposedly a deadline for MaRta to refile?
No doubt the UW would have more information. At least they have their own team of lawyers in the background . We haven't had any true legal representation since Susman left and we 'accepted' F&R..
How hard could it be to work through one more potential claimant ..? Seems to me it's just another reason to delay a bit more..
Too bad the court never stipulated some sort of drop dead date to close the bk .. and instead the wmilt is allowed to keep stringing this decade old bk on and on..
well hopefully since the Underwriters ended up in class 19 too.. that there will be something for P's..
yea.. we would be lucky to get a brk.b type price if / when this all wraps up..
Thats a big time range..
Same I was wondering about this prospectus..
Nothing from escrows yet obviously.. but it's not like coops been a darling either and we have been greatly diluted.
whenever i see sargent's email from way back when.. i still wonder how this is considered F&R years later .. considering the WMIH shares we received for giving our releases have become pittances of COOP.. and still worth very little.. hopefully our escrows will bear some real fruit soon.
seeing a 1 to 2 x par recovery to our escrows before year's end would be nice..
if we are fortunate.. maybe at the end. he will be like 'oops'.. look what i found.. someone left a bag of billions at his front door with a note to pay equity..
yup..
the F&R is all we want. as of the moment we are just holding a pile of COOP that isn't worth much..
sure hope so! time to close it.. it's been too long..
as a follow up from my earlier post regarding the W-8 form from last week.. i received an email response from the WMILT:
"The WMI Liquidating Trust is requesting an updated W-8 form so you can retain your ability to receive potential distributions in Class 18. We do not have details regarding the distribution mechanics at this time."
what's left in Class 18?
at least we are getting closer and closer to Class 19 it seems.
WMI Liquidating Trust
800 Fifth Ave, Suite 4100
Seattle, WA
98104
Apparently someone on board post got one too.
By letter mail direct from the Wmilt
I once owned a bit of Dime way back at the beginning of this BK. Aren't Dimes finished ?
yup same with my brokerage. its done online. so i found it a bit odd wmilt asked for one directly.
I received a letter from WMILT direct to my home address, that requested I send in the appropriate signed W-8 form.