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Yes And No because of the "Exchange Event" that occurred. Then They where converted to a like instrument for the benefit of WMI and See page 5 for a Great Visual and how it works!
Page 5 of PDF Visual
Regards warrior
B
No it mandated WMI SET ASIDE>>>>> If the OTS so directs following the occurrence of an Exchange Event (defined below), each Trust Security will be automatically exchanged for a like amount of fixed-to-floating rate depositary shares representing a 1/1000th of a share of specified classes of preferred stock (the “WMI Preferred Stock”) of WMI. >>>>>>>outside hence If you have these you will be paid, you are a debtholder that the debit must be repaid. Its like hedging your hedge with a alike amount of $$$.
K Regards,
B
WASHINGTON MUTUAL 144A 939ESC84
from T.D. Ameritrade's description.
THEY ARE COMING BACK TO US AND THE ARE MOST DEFINITE REAL K'S
FORM 8-K May 2007
In connection with the closing of the transactions described above, on May 24, 2007, WMI entered into a Replacement Capital Covenant (the “Covenant”) whereby WMI agreed for the benefit of certain debt holders that it would not repurchase or redeem the Series 2007-A WaMu LLC Preferred Securities, the Trust Securities or the WMI Preferred Stock (including any depositary shares representing WMI Preferred Stock) unless such repurchase or redemption is made from proceeds of certain qualifying securities issuances and on other terms and conditions described in the Covenant. A copy of the Covenant is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
3.1 Articles of Amendment of Washington Mutual, Inc. with respect to the Series M Preferred Stock filed with the Washington Secretary of State on May 23, 2007.
99.1 Replacement Capital Covenant dated May 24, 2007, by Washington Mutual, Inc. in favor of specified debtholders.
I think I am getting my brain somewhat around it. I keep reading.
Thank you regards AZ
B
So my question is does then the court make a summary judgement and enforce a default summary judgement?
Regards,
Barry 792
That could be a wholelata worms if that canh got opned back up. So if (JPMC) they haven't fulfilled there obligations then what happens it defaults to equity and the LT gets reopened and the it flows through to equity?
Trying to get my head around this....
Regards,
Bary
Hey thanks Az,
The six year IRS Filing Rule.....correct? So the hence the extension request.... possibly? However, only for disputed Equity? If allowance is granted?
As this is concerned with Wmih, this ruling won't apply to that which comes from outside the BK and marries back to WMIH. This reunion of property still can occur regardless of the Ruling?
Am I somewhat on the trail?
Thank you,
B
"LargeGreen" Never thought about it Excellent point ! How the hell do you do that!
Here is the real funny(phony) action - how in the hell does one borrow 600 million dollars with a .50 cent shell company with supposedly no assets - now in my view, there is absolutely NOBODY in their right mind that would do such an action UNLESS there was more to the story.
Good catch regards.
B
Thank you for the nice brief of your take on the LT! As always very much appreciated.
Cowboy regards,
B
I get from That again that this either way is a of no consequence to moving WMIH and the plan forward. As we all know the liquidation trust is the last one to empty the proverbial safe before the meet they Trustee at Doorway to Case and put the sign on it CLOSED!
Regards,
B
Court Filing
The more I ponder this WMIH is moving forward and this has is reflective in the ongoing litigation with respect to the FDIC-R-WMB- and Jpmc. This I am tending to believe is in speaking with Janice and Debra is the on going lit, discussions and issues.
Will all keep working it .
Regards,
B
Iprelude /court Filing
I am at my bsn and had time top glance over the Helluva going on with this latest court filing. I read it twice but will get my head around it. Three intial thoughts but will clarify my think later as it's else where still had to respond though.
1. as I read it on the Effective Date in accordance with
the Plan. As has been stated in the past, such Escrow CUSIPs were issued solely to facilitate potential future distributions,
if any, to eligible former shareholders of WMI if Claims involving Disputed Equity Interests are disallowed
That states:Disputed Equity Interests are disallowed
2 the Depository Trust Company (“DTC”) established and
maintains positions in the aforementioned Escrow CUSIPs. TThese Escrow CUSIPs represent nominees’ positions that
would be used to make future distributions
.....DTC holds these in case of disallowance for of Disputed Equity.
3.IF these clams are disallowed then they break them down accordly.
if the claim is disallowed, the related portion of the shares
will be redistributed to beneficiaries of the Trust in accordance with the distribution mechanics set forth in the Plan.
In the event any future distributions of WMIHC common stock are made from the Disputed Equity Reserve,
DTC will be instructed to allocate such common stock to each of the Escrow CUSIPs on a pro rata basis.
In June 2015, several Claims were disallowed and 1.4 million shares were subsequently distributed to holders of Escrow
CUSIPs on a pro rata basis;
I will revist this off break.
Regards,
B
Not that it Matters, I do not predict as its a educated Guess.
However by 2 mins in after hours this stock closes higher!
WAG for fun regards,
B
I think most everyone acknowledge it was a possibility did not say we would find out then. Maybe some but I do not believe it as a public event we would all be aware of. Its least that's the way I took it.
Regards,
B
Large & Ron,
Thanks for the update and explanation. Much appreciated!
Regards,
B
Dang Nabbit! Is there anything these mongrels wont do to satisfy their greed.
Thank you
B
Az, So are you saying that is how they are con trolling the price action here?
Regards,
B
Ron,
Thank you for your take. We have some real qualified posters here and you are always much appreciated. Thank you much!
Much appreciated regards,
B
Az Thank you for taking the time I greatly appreciate all you do thank you for answering.
Az Appreciation regards,
B
Azcowboy,
So as I am going thru all of the trusts I am still confused trying to calculate the payout to Q,K,P and how its structured this is where it gets a bit difficult. I get the mechanics of it however struggling with the payout structure.
Anyway thanks as always you are a tremendous help.
Kind regards,
B
I think the flow chart will help some out here with the Cayman's exchange event
wmish.com/joshua_hochbergs_joke/epic_fail/4533/WMIPC_500002044.0001-28.pdf
Washinghton mutual preferred Cayman
Page 5
Regards,
B
That is the Spaghetti Bowl Lodas
I believe the majority of assets have been accounted for. However I do believe that some of those same assets: and who is currently is, receiving benefit, or had received benefit from, is still being sorted. WMI JPM AND THE FDIC'S own inter-party escrow Accounts are still being sorted.
Reconstructing accounts, ownership and rights has been and still being done by A&M to this day. Now of course this is all being done In accordance with the plan 7's parameters,
Plan 7 governs the rightful ownership, rights to title and benefactor in which any value or right that was held by or accounted for, been, or is to be, received distributed pulled back has not been fully completed.
The unwinding and placement of rightful ownership as to accounting for all dollars is still being sorted IN accordance to the plan!
If you look to A&Ms 1st glance at the books days after the seizure they knew it was going to be along time to figuring out just how Deep each "data drawer" was going to be.
Its a process.
Bw
JPMorgan Chase did not purchase ownership of $615 billion
http://bpinvestigativeagency.com/why-jpmorgan-chase-did-not-purchase-ownership-of-615b-worth-of-wamu-loans-in-three-simple-steps/
Investigator Bill Paatalo questions the practice of using “Substitution of Trustees”. Paatalo points out that WMAAC and WMMSC have never been dissolved and still exist. Although the loans did not go through the FDIC, Chase executes assignments from the FDIC in order to substitute trustees. In this article Paatalo demonstrates that JPMorgan Chase did not purchase ownership of $615 billion in Washington Mutal loans in three simple steps.
Please visit Bill Paatalos’s informative blog at http://www.bpinvestigativeagency.com. Paatalo has investigated and exposed the fraudulent WaMu/FDIC/JPMorgan Chase fraud and is one of the most talented foreclosure fraud investigators in the country.
Posted by Bill Paatalo on Jul 24, 2017 in
Here is a simple “3-step Analysis” to show that “ownership” of at least $615,000,000,000.00 (over half a TRILLION Dollars!) of WaMu loans were not purchased by JPMorgan Chase from the FDIC.
Do you wonder How get paid?
Az, Ron, Cura, and many more ,however Az has been hammering on this point and I think Cura Asand's post needs to be read by all whom wonder how. This couple paragraphs nails down the mechanism and shows the way in irrefutably form as to the vehicles that will return money to escrow holders! It clearly states what and who is the benefactor of what.
I may add as to why I believe some of The original Hedgies have reduced their holdings is do to the fact KKR will not have a greater influence on WMIH going forward. Davids Teppers crew and such got what the got originally when the y all got caught with their hands in the cookie jar so the became escrow holders on approval ,however since they do not need to triple dip because of possibly KKR's lesser influence. Whether we get news now or latter rest assured your escrow shares truly are gold.
Cura real nice job! As always Az and such thanks for shining light years ago to the path leading us HOME!
CURA ASANDA
I noticed the morning that your post was overlooked by many.
SEVENTH AMENDED JOINT PLAN OF AFFILIATED DEBTORS
PURSUANT TO CHAPTER 11 OF THE UNITED STATES BANKRUPTCY CODE
Section 2.19. Loan Servicing. From and after the Effective Date, JPMC
shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit “Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit “AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to
WMI all checks and/or payments received in connection with those loans in its possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is holding with respect to such loans and (ii) provide WMI an accounting with respect to each of the foregoing. Notwithstanding the foregoing, any dispute that may arise relating
to the servicing of such loans during the period from and after the Effective Date shall be brought pursuant to such servicing agreements and this Agreement is not intended to create any additional rights, obligations or remedies. The Parties acknowledge and agree
that (y) the Loans are the only loans that are or will be, from and after the Effective Date,serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their Affiliates or their successors in interest) and that the Service Agreements are the only
servicing agreements between the JPMC Entities (or their Affiliates) and the WMI Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or liability to any of the WMI Entities (or their Affiliates) with respect to or in any way
related to the servicing of any loans for the WMI Entities (or their Affiliates).
Great Job Cura Regards,
Barry
AFTER HOURS 99 and rolling
Jinsong33
I will say you got some cojones making a date prediction! But I like your attitude and demeanor! Keep it flowing. I for one lack the Cojones and specific facts to make that prediction...All the same good on ya!
Cojones Regards,
B
NO ONE I BELIEVE STILL THINKS THAT MAMA FDIC-R is gonna hand us cash..well Maybe some.
Head Bitch (as in female devil Dog Animal/beast) has just been
recalcitrant like a real stubborn controlling MAMA VERRUCA only long nailed picking at and holding the hungry wolfs at bay so as to sort pieces out for this diabolical brood of devilish rapacious,gluttonous beasts ready to tear and devour the raped carcass.
Problem is the spirit left the body and even devil dogs can't eat that chit ....
Anology regards
B
WOW.99
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Jin BBAB
I would tend to agree that the deal was done in 2012, however sure as chit would be nice to glimpse at the package....hopefully it has a bow on it being Christmas and all.. And so we wait... A&M and billing us for managing a two page ledger.
Ledger regards,
B
#6 FDIC Janice @ FDIC DEAD END !
I threw out 30 Billion hoping she would correct me or say no you are misguided this is what she replied... No fruit today or maybe not.
Hi Barry.
I do not have this information available to me. If you submit a request through the Freedom of Information Act (FOIA), that group will route your inquiry to the appropriate program area for an accurate and timely response.
Sorry I could not be of more assistance regarding this inquiry.
Thanks,
Janice
________________________________________
On: 30 November 2017 12:34, "Barry" <barry@e.co> wrote:
Hi Janice,
I am trying to figure at the time of Siezure what is the amount of the WMI Hold Co assets that were recorded in total outside of the Whole bank resolution to FDIC-R? I could not find a number except 30 Billion. Any help would appreciated. Thank you for your time and consideration.
Regards,
Barry
Dead end regards,
B
Az Thank you for keeping "the Hammer Down" on the share button much Gratitude for your d.d. You are a blessing Win loose or draw. I tend to believe your Hypothesis and Due Diligence as it is very precise and detailed.
And the rest of the bad Joo Joo's to heck with them! Where I come from we would dispatch all of them except for six as we will needed them for pallbearers.
Cowboy Regards,
B
Lodas,
Thanks for the info on the putts and calls the other day ! The only caveat is if some type of very positive announcement is imminent than I would say all trading rules are out the window , other than that I will take your lead.!
Trader regards,
B
Go4A....
I will try too. When I push her hard she clams up on me and when I ease back she seems more forthcoming.
Regards,
B
100 percent !!!!!!
Even forgot to take out my name like a dumb ass.
100 percent regards,
B
#5 Janice @FDIC PENDING as crickets chirp! No answer and it's obvious
Why.
Wed 11/29/2017 1:52 PM
Dear Janice,
I know you are no minion in your world . Thank you dearly for helping me thru this process of understanding. Hopefully the Holding Co had a few dollars left for us little people. This process cost me some serious $$.
Happy Holiday regards
Barry
Crickets .....Crickets ....Crickets.....
You got it pard ;)
Regards,
Hi BBANBOB
Hey pard just clearing up some misunderstandings that have been going on for along time!!!! As you and I both know it ain't about the receivership sweetheart!
Sometimes it is better to have it come from the horses mouth than my behind...LMAO.
Just let others read it and it should help. We know were you stand I think :)
BBANBOB WMI regards,
B
TO ALL WHO WANT TO SAY THANKS ..I am just a little Fish doing my part as others here move mountains! I am in this for a penny and a pound!
All whom are here together (in the cause of recovery and restitution) must use our time together to help one another through this Shite storm. Someday we may all look back win loose or draw and be emboldening by the good we found in "The process" WIN,Loose or Draw! I am in for winning !
Little Fish regards,
Barry
# 4 From Janice @ FDIC AHHH The grail as we all know !
Hi Barry.
The holding company is separate and distinct from the failed bank receivership.
Janice
________________________________________
On: 29 November 2017 14:39, "Barry" <barry@.co> wrote:
Janice,
So as WMFSB was the only thing seized by the OTS and placed in receivership The bankruptcy and the assets of the Holding co. WMI is a separate Issue completely from the receivership of the FDIC? Am I thinking correctly ?
Regards,
Barry