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.
ron_66271, I hope you’re right. However, because of all their inside information, the rich also sell high while middle class gets slaughtered.. then the market falls and the rich buy back in at low prices.. so they inject their gains back into market and cycle starts over again..
Jmho
Nd9
kingpindg, nice find. I wish I would have known. I would have tried to go.
ND9
I just checked my TDA acct and don’t see anything.
Nd9
There is a lot of "stuff" no reflected on COOPs official balance sheet.
kingpindg, I think you're right. I scanned it earlier but didn't have time to look for ERHC Energy reps in detail. However, I just looked again. I don't see anybody.
thanks,
ND9
Africa Energies Summit, 17th - 19th May 2022
The May Fair Hotel, London
https://www.frontierenergy.network/events/africa-energies-summit-2022/speakers
"We are the operator for the petroleum contract covering Block 5, offshore Sao Tome and Principe in the Gulf of Guinea. The block covers an area of approximately 0.5 million acres (gross) in water depths ranging from 2,150 to 3,000
meters.
Our block is adjacent to, and represents a potential extension of, a proven and prolific petroleum system offshore Equatorial Guinea and northern Gabon comprising Cretaceous post-rift source rocks and Late Cretaceous reservoirs."
From Kosmos Energy 2021 Annual Report
https://www.kosmosenergy.com/wp-content/uploads/2022/04/Kosmos-2021-AR.pdf
Andy Brown
"So, this is clearly 1 for Thore. I think what's exciting is this is the first sort of deep water well in Sao Tome. So this is -- this opens up the potential for a lot of opportunity, but Thore, give us some color to the exploration well."
Thore Ernst Kristiansen
"Yes. Of course, we are really excited about this because this is truly frontier. It has been an area where many of the leading companies in the industry wanted to farm in. We have had been in the luxurious situation that we could choose partners. We have a very strong partner now in Shell in Sao Tome. We are drilling, we spudded on the 25th of April and moving rapidly ahead.
What is really exciting in Sao Tome is that, since it is the frontier play, and Galp is an owner, not only in Block 6 where we're drilling right now, we're also an owner in Block 11 and in 12. We actually see 10 to 12 additional prospects that then potentially could work if this works. But there is a lot of ifs there. This is frontier drilling with high probability of failure. But if it works, it can really be interesting. And I would be a little bit careful of being too precise on this first one. But it's certain where we're drilling right now could be a standalone development if it works."
"We did spud Jaca in Sao Tome on the 25th of April, an ultradeep water high potential frontier exploration well that will target a new play of the cretaceous age."
Speaker: Andy Brown - Vice Chairman of the Board and CEO
From: Galp Energia, SGPS, S.A (OTC:GLPEF) Q1 2022 Earnings Conference Call May 3, 2022 6:30 AM ET
https://seekingalpha.com/article/4506413-galp-energia-sgps-s-glpef-ceo-andy-brown-on-q1-2022-results-earnings-call-transcript
5/6/2022 Latest "Notice of Termination of Receiverships"
Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 05/06/2022
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10181 Florida Community Bank Immokalee FL 05/01/2022
10423 Tennessee Commerce Bank Franklin TN 05/01/2022
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the
Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on May 2, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-09700 Filed 5-5-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/05/06/2022-09700/notice-of-termination-of-receiverships
5/6/2022 Latest "Notice of Termination of Receiverships"
Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 05/06/2022
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10181 Florida Community Bank Immokalee FL 05/01/2022
10423 Tennessee Commerce Bank Franklin TN 05/01/2022
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the
Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on May 2, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-09700 Filed 5-5-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/05/06/2022-09700/notice-of-termination-of-receiverships
Shell posts record quarterly profit of $9 billion
Shell has lots of money to drill in EEZ :>)
*********************************************
Shell posts record quarterly profit of $9 billion
By Reuters
Published 5:25 AM EDT, Thu May 5, 2022
https://www.cnn.com/2022/05/05/investing/shell-earnings-record-profit/index.html
Opus X, well, maybe, but look at offshore Namibia and how word leaked out about finding over a billion barrels. Hard to keep that a secret.
JACA-1 Video on You Tube.
ND9
He just said high risk but possible high reward.. sound about right to me..
AZCowboy, ok, as you said below, the "company" has controlled all the Preferred Managing Sub earning returns and use of funding. Ok, I got that. Thank you very much.
So if they used the money for run-off notes and KKR, then when you say preferreds are toast, are you saying that we preferred escrow owners are getting nothing back? Or maybe, just because the company used the Preferred Managing Sub's money, maybe they will give us something else (e,g, preferred stock, cash from elsewhere)?
A simple question for you because I am still trying to understand your bottom-line. Are WAMPQ escrow holders getting something back?
Thanks for helping me understand.
ND9
johnlconfer, yes, but is AZCowboy saying that in his opinion, nothing is coming back for preferreds, or maybe, he's saying it's a reduced value, or it's coming from a different source, or sources? I was hoping he would elaborate.
ND9
AZCowboy, would you please elaborate on your comment below, where you stated "the Preferreds are now Toast?" What do you mean by that? Are you saying that in your opinion, Preferreds aren't getting anything? Or maybe a reduced return, or what?
Thanks,
ND9
*********************
Nightdaytrader
Thursday, April 28, 2022 10:35:24 PM
Re: AZCowboy post# 686948
Post#
687074
of 687383
AZCowboy, "the Preferreds are now Toast?" Come on AZCowboy, do you really believe all the Hedge Funds, that were in control of the bankruptcy, would allow that? It doesn't make sense....
JMHO
ND9
Kosmos Energy is producing 33,000 Barrels per day in Equitorial Guinea, just East of STP EEZ Block 5. Here is what Kosmos said about Block 5:
Sao Tome and Principe
We are the operator for the petroleum contract covering Block 5, offshore Sao Tome and Principe in the Gulf of Guinea. The block covers an area of approximately 0.5 million acres (gross) in water depths ranging from 2,150 to 3,000 meters and provides an opportunity to pursue the same core Cretaceous theme that was successful for us in Ghana.
Our block is adjacent to, and represents a potential extension of, a proven and prolific petroleum system offshore Equatorial Guinea and northern Gabon comprising Early Cretaceous post-rift source rocks and Late Cretaceous reservoirs
https://investors.kosmosenergy.com/static-files/3bd3f0ef-3129-415d-94b8-841eb6938eca
Thank you Krombacher. This is starting to get exciting. Let's hope for the best.
ND9
Lovemelongtime,
This past week, I was on business travel and saw your message. That was very nice of you and it made my day. Thank you.
ND9
Ooops, sorry, Kingpin already posted this article on drilling in STP.
ND9
*********
Sao Tome and Principe begins first oil drilling in the Exclusive Economic Zone
04.30.2022 at 18:37
LUSA
Sao Tome and Principe began, about a week ago, the first oil drilling in its Exclusive Economic Zone (EEZ), which is taking place "within normality" in a block owned by Shell and Galp, an official source announced.
In a press release, the National Petroleum Agency of Sao Tome and Principe (ANP-STP) mentioned that the drillship Maersk Voyager, which is conducting the operation, entered the Sao Tome EEZ last Sunday and was accompanied to the location of the 'Jaca' well in block 6, by the Portuguese Navy patrol vessel 'Zaire', which is on a maritime training mission for the Sao Tome and Principe Coast Guard.
"The drilling campaign started the following day [Monday], and operations are proceeding within normal limits," said the office of the executive director of the ANP-STP director.
The statement cites the executive director of the ANP-STP, Luiz Gamboa, who highlighted the operation as an "important step" for the collection of oil information in the Sao Tome and Prince EEZ.
"The start of exploration drilling at the Jaca well marks an important stage because it will allow, for the first time, the collection of more accurate information about our EEZ," said Luiz Gamboa.
The newly sworn-in director of the ANP-STP added that "the priority of the consortium formed by Galp, Shell and ANP-STP is the safe execution of the Jaca operations to achieve the objectives of the well and collect quality data for its evaluation."
Speaking to Lusa, by telephone, Luiz Gamboa explained that "the operations will last about 60 days with a view to installing the minimum equipment for the stability of the hole and it will take another 45 days to carry out the study and declare or not the reliability of the area" .
In December last year, ANP-STP and shell and Galp representatives promoted a round of presentations to the holders of the sovereignty bodies and local, regional and civil society powers in São Tomense, in order to share the information on this project, which, according to the former director of ANP-STP, Olegário Tiny, has been awaited "with expectation" by the St. Tomes for more than 20 years.
At the time, Olegário Tiny clarified that from a financial point of view the beginning of drilling does not translate "any immediate direct impact" on the country's economy, but, "from the point of view of geological knowledge of the area, this first hole can have a very great importance".
"It creates an expectation, not only for the population and the authorities, but for all the partners in the area," said the former director of ANP-STP, noting that "everyone is waiting."
https://visao-sapo-pt.translate.goog/atualidade/mundo/2022-04-30-sao-tome-e-principe-inicia-primeira-perfuracao-de-petroleo-na-zona-economica-exclusiva/?_x_tr_sl=pt&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
You continue to make my point…. Duh…. oh this too easy..
The proof is you and your friends, posting non-stop for 13 yrs telling us there is nothing returning.
Qatar Petroleum/Energy is now doing business in South Africa, Namibia, Angola, Nigeria, Egypt, Mozambique, etc... So they are being aggressive...
Qatar has established relations recently with Sao Tome Principe, and Equitorial Guinea..
Qatar recently invested $5B in Nigeria...
Qatar Petroleum/Energy is partners in Africa with Shell and Total...
Hmmmmm.
ND9
Another old but good Qatar Petroleum post
ND9
*****************************
QP farming into ultra-deepwater block off Angola
So Qatar Petroleum also partners with Total and Sonangol in Angola.. Total and Sonangol are now also in STP EEZ Block 1. Interesting.... With Qatar establishing relationship with STP, maybe they team up with Sonangol and Total.....
ND9
*****************************************
QP farming into ultra-deepwater block off Angola
Qatar Petroleum has entered into a farm-in agreement with Sonangol and Total to acquire a 30% participating interest in block 48 offshore Angola.
Aug 18th, 2020
https://www.offshore-mag.com/regional-reports/africa/article/14181919/qatar-petroleum-farming-into-ultradeepwater-block-off-angola
I told you about Qatar and EEZ/JDZ a year ago.
ND9
********
Nightdaytrader
Thursday, May 13, 2021
8:33:44 PM
Re: None
Post#
346184
of 349931
Qatar, Sao Tome and Principe establish diplomatic ties.
********************************
Now this is really interesting... Qatar Petroleum is establishing ties with STP (article down at bottom). QP is partners with both Shell and Total, and drilling for oil in other countries per two articles and links directly below.
QP in deal with Shell to become partner in two offshore exploration blocks in Namibia
April 06 2021 07:48 PM
https://www.gulf-times.com/story/688275/QP-in-deal-with-Shell-to-become-partner-in-two-off
Total, Qatar Petroleum extend partnership to Namibia
Aug 27th, 2019
https://www.offshore-mag.com/deepwater/article/14038905/total-qatar-petroleum-extend-partnership-to-namibia
Could it be that Qatar is establishing ties with STP so that they can become partners with Shell and or Total in STP EEZ?
ND9
***************************************************
Qatar, Sao Tome and Principe establish diplomatic ties
05 May 2021 - 9:19
Doha: The signing ceremonies of a joint communique to establish diplomatic relations between the State of Qatar and the Democratic Republic of Sao Tome and Principe took place at the headquarters of the Permanent Mission of the State of Qatar to the United Nations in New York.
Permanent Representative of the State of Qatar to the United Nations Ambassador H E Sheikha Alya Ahmed bin Saif Al-Thani signed the communique on behalf of the government of the State of Qatar, while Charge d’Affaires of the Permanent Mission of the Democratic Republic of Sao Tome and Principe to the United Nations H E Alcinio Cravid E Silva signed the communique on behalf of the government of the Democratic Republic of Sao Tome and Principe.
The two sides affirmed the keenness on strengthening and developing the relations of friendship and cooperation in the political, economic, commercial and cultural fields, and stressed the importance of establishing bilateral relations in accordance with the principles of the UN Charter. Both sides expressed confidence that the establishment of diplomatic relations will contribute to promoting the bilateral cooperation and consolidating the world peace.
https://thepeninsulaqatar.com/article/05/05/2021/Qatar,-Sao-Tome-and-Principe-establish-diplomatic-ties
US Bancorp
AZCowboy, "the Preferreds are now Toast?" Come on AZCowboy, do you really believe all the Hedge Funds, that were in control of the bankruptcy, would allow that? It doesn't make sense....
JMHO
ND9
Itsmyoption, you don’t know that with certainty. That is your theory and or opinion. Nothing more.
Nd9
I maintain that if Paladin is so important and parent of all those wmih subs, it (Paladin) wouldn’t have a business address listed as a residential neighborhood in North San Antonio. This is a red flag that probably indicates Paladin is not a wmih company.. Maybe just Charles smith forming a small investment firm.
However, you just can’t just discard this San Antonio address and say it’s a wmih company.. something is not right..
Jmho
Nd9
Krombacher, I just called Questrade but the gentleman who answered said that because I was a US citizen living in USA, I could not open an acct.
Nd9
Mine will say, "ThankUGOD"
Keep an eye on Qatar Petroleum. They continue to expand into Africa oil fields with their partners Shell, Total... they are also expanding their Diplomatic Relations into Sao Tome, Equitorial Guinea, Namibia, etc.
ND9
Qatar, Sao Tome and Principe establish diplomatic ties
05 May 2021 - 9:19
https://thepeninsulaqatar.com/article/05/05/2021/Qatar,-Sao-Tome-and-Principe-establish-diplomatic-ties
Equatorial Guinea: Diplomatic relations with Qatar
29 Apr 2021
Equatorial Guinea and Qatar signed a joint statement to establish diplomatic relations on 9 April, in a ceremony at Qatar’s delegation to the United Nations. The statement was signed by Equatorial Guinea’s UN ambassador Anatolio Ndong Mba and his Qatari counterpart Sheikha Alya Ahmed Bin Saif Al-Thani.
https://www.africa-energy.com/article/equatorial-guinea-diplomatic-relations-qatar
QP in deal with Shell to become partner in two offshore exploration blocks in Namibia
April 06 2021 07:48 PM
https://www.gulf-times.com/story/688275/QP-in-deal-with-Shell-to-become-partner-in-two-off
Total, Qatar Petroleum extend partnership to Namibia
Aug 27th, 2019
https://www.offshore-mag.com/deepwater/article/14038905/total-qatar-petroleum-extend-partnership-to-namibia
Qatar Shell is now one of Dadu’s ‘Founding Family’ members
Asmahan Qarjouli
April 19, 2022
https://dohanews.co/qatar-shell-is-now-one-of-dadus-founding-family-members/
Sao Tome President Carlos Vila Nova visits Equatorial Guinea
April 20, 2022
By Manuel Dênde, Journalist for STP-Press Agency
São Tomé (São Tomé e Príncipe), 20 Apr 2022 (STP-Press) – The President of São Tomé e Príncipe, Carlos Vila Nova is in Malabo, Equatorial Guinea where he began a three-day state visit today.
Equatorial Guinea is a neighboring state with which Sao Tome and Principe has good relations and which served as a rear guard for Sao Tome nationalists in the anti-colonial struggle that resulted in National Independence on July 12, 1975
Today, the two states develop excellent relations, and there is even agreement in the area of joint exploration of hydrocarbons in the border area between the two countries.
This morning, moments before leaving São Tomé, Carlos Vila Nova told reporters that in Malabo, he will discuss strengthening bilateral cooperation based primarily on oil, education and health.
In Malabo, dozens of Sao Tomes study in various areas of higher education while Equatorial Guinea intends to place Guinean paintings in São Tomé for Portuguese language learning.
And in the oil industry, the parties have on the table prospects of creation (a dossier dating back more than five years) of a mixed oil exploration company in the overlap zone between Malabo and São Tomé.
"I'm going to Equatorial Guinea to respond to an invitation from my counterpart," he said.
"And our intention is certainly to exchange views, to know and explore opportunities to strengthen the areas of cooperation, particularly in the areas of education, health and also to see this oil dossier between our two countries," Vila Nova said.
After Portugal where he made his first official visit, this is the second state visit that Vila Nova has made since becoming Head of State of São Tomé and Príncipe.
MD/LM
STP-Press/End
https://www.stp-press.st/2022/04/20/presidente-sao-tomense-carlos-vila-nova-visita-guine-equatorial/
Joint Authority Nigeria/Sao Tome and Principe discuss future in Sao Tome
April 17, 2022
By Manuel Dênde, journalist for STP-Press Agency
São Tomé (São Tomé and Príncipe), 16 Apr. 2022 (STP-Press) – São Tomé and Príncipe and Nigeria, discuss in the Capital of São Tomese, the hypothesis of reviewing the Oil Exploration Treaty between the two countries, – said STP-Press the minister responsible for oil affairs.
According to Osvaldo d'Abreu, Minister of Natural Resources, the hypothesis of revision is put into practice, 20 years after the existence of the Treaty by the common will of the parties as provided for in the document.
It is recalled that the two countries, in Abuja (capital of Nigeria), signed up in February 2001, following the process of delimiting maritime borders and establishing the EELl, which began in 1998, a Joint Exploitation Treaty of Petroleum Resources and others existing in the Joint Zone of the two States.
The Treaty also establishes an international entity called the Joint Development Authority (ADC) composed of representatives from both countries and responsible for the management of the Joint Development Zone (DcZ) on the basis of revenue and expenditure sharing in terms of 60% for Nigeria and 40% for STP.
The meeting taking place in São Tomé is the result of a mandate from the President of the Republic and the Prime Minister of Sao Tomes in order to learn about the real problems and constraints that affect the organisation to the highest level, if some decisions are taken that are necessary.
According to Amadji Geldam, President of the Joint Authority, there are some problems for which some decisions should be proposed, but which are normal situations inherent in the functioning of the same authority and which can be supported by some existing assets of the joint zone itself.
Among existing problems, STP-Press said, is the budgetary situation of the Authority that has been supported unilaterally by Nigeria for many years.
One of the problems concerns the budget/2022 functioning of the Joint Authority based in Abuja, which will be subject, at this meeting of St. Tome, to "some recommendations", as stated.
However, despite these "constraints", STP-Press has learned that the "Joint Oil Exploration Authority will not be in question and that it will continue to guarantee the primary objectives that led to the subscription of the Treaty".
It is stressed that the Nigerian part is led by Amidji Geldam, while the Sao Tome side is led by Osvaldo d'Abreu, Minister of Natural Resources accompanied by Engrácio Graça of Finance, including technicians and managers of the Joint Authority Nigeria/Sao Tome and Principe.
MD/LM
STP-Press/End
https://www.stp-press.st/2022/04/17/autoridade-conjunta-nigeria-sao-tome-e-principe-discute-futuro-em-sao-tome/
Probe ship leaves Namibia on the way to Sao Tome and Principe to drill block 6 of the Exclusive Economic Zone
April 19, 2022
By Manuel Dênde, journalist for STP-Press Agency
São Tomé (São Tomé e Príncipe), 19 Apr. (STP-Press) – The drillship that is expected to drill the first oil hole in block 6 of the Exclusive Economic Zone (EE) is expected to arrive in São Tomé and Príncipe later this month, the country's National Radio revealed.
The source cites, in turn, Roland Magli, GALP's africa director who recently made such statements in the Portuguese capital, Lisbon.
It is refound that GALP and SHELL each hold 45% of participatory interest in this block and the State of São Tomense, 10%.
With the first hole, rescheduled as early as next May, the drill ship, equipped with first-generation equipment, will concentrate on the islands of São Tomé and Príncipe in the prospect of finding marketable oil.
The result of this drilling will determine future actions, assured in turn, Vanessa Gasparinho, also, galp, last December in São Tomé.
He said at the time that for the first time there will be data to study the future, noting that this first operation "will last between 60 and 90 days".
Vanessa Gasparinho stressed that before this mega operation, a deep environmental impact study was conducted to take care of all environmental risks that seem indispensable.
Block 6 covers an area of 5,024 square kilometres in Sao Tome territorial waters, about 100 kilometres from the country's coastline and about 2,500 metres deep.
MD/LM
STP-Press/End
https://www.stp-press.st/
JPMorgan Chase filing from Sept 25, 2008:
An oldie but a goodie:
***************************************
Transaction
JPMorgan Chase to acquire:
Substantially all of the assets of Washington Mutual’s banks
All of the deposits and certain liabilities of Washington Mutual’s banks
Transaction does not include:
Assets and liabilities of Washington Mutual Inc. (Holding Company)
Unsecured senior debt, subordinated debt and preferred of Washington Mutual’s banks
https://jpmorganchaseco.gcs-web.com/node/79286/html
FEDERAL DEPOSIT INSURANCE CORPORATION Mtg April 19, 2022
**************************************
BILLING CODE 6714-01-P
FEDERAL DEPOSIT INSURANCE CORPORATION
Sunshine Act Meetings
TIME AND DATE: 10:00 a.m. on Tuesday, April 19, 2022.
PLACE: The meeting was held via video conference on the
Internet.
STATUS: Closed.
MATTERS TO BE CONSIDERED: In calling the meeting, the Board
determined, on motion of Director Rohit Chopra (Director,
Consumer Financial Protection Bureau), seconded by Director
Michael J. Hsu (Acting Comptroller of the Currency), and
concurred in by Acting Chairman Martin J. Gruenberg, that
the public interest did not require consideration of the
matters in a meeting open to public observation; and that
the matters could be considered in a closed meeting by
authority of subsections (c)(4), (c)(6), (c)(8),
(c)(9)(A)(ii), (c)(9)(B), and (10) of the “Government in
the Sunshine Act” (5 U.S.C. 552b (c)(4), (c)(6), (c)(8),
(c)(9)(A)(ii), (c)(9)(B), and (10).
CONTACT PERSON FOR MORE INFORMATION: Requests for further
information concerning the meeting may be directed to Debra
This document is scheduled to be published in the
Federal Register on 04/21/2022 and available online at
federalregister.gov/d/2022-08632, and on govinfo.gov
2
A. Decker, Executive Secretary of the Corporation, at 202-
898-8748.
Dated this the 19th day of April, 2022.
Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-08632 Filed: 4/19/2022 4:15 pm; Publication Date: 4/21/2022
https://public-inspection.federalregister.gov/2022-08632.pdf
WaMuClosingBook. txt Division of Resolutions and Receiverships
Thanks to Vitellom (on other Message Board) for reminding me about this version of 112 page P&A. Notice below, where it talks about 5 different types of alternative transactions. Preferred stock is not included in any of them.. An oldie but a goodie.
ND9
******************
WaMuClosingBook. txt
Division of Resolutions and Receiverships
Institution Numer: 10015
Insti tution Location: Henderson, NV
?N~J
Ie C~)
~())
~(~)
Washington Mutual Bank
Closing Book
Date of Closing: September 25, 2008
Confidential Information Confidential Information
Transaction Recap
Washington Mutual Bank
Henderson, NV
In all the transactions offered by the FDIC, the Whole Bank Purchase and Assumption
Agreement
will be tailored to the winning bid. In all transactions, all assets are purchased
by the acquirer and
the preferred stock is excluded from the transaction. The legal documents will be
the governing
documents for this transaction.
The FDIC is offering five alternative transaction structures:
1. All liabilities are assumed except the preferred stock.
2. All liabilities are assumed, except the preferred stock and the subordinated
debt.
3. All liabilities are assumed except the preferred stock, the subordinated debt and
the senior
debt.
4. All deposits and secured liabilities are assumed by the acquirer.
5. All insured deposits and secured liabilities are assumed.
The bid for alternatives 1, 2, or 3 must be at least the FDIC's administrative costs
of the closing
equal to $ (amount to be provided) .