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Ron when you post anything to try and prove your case you MUST use Amended POR 7 signed by the court on 2/23/2012 and do not obfuscate with any previous PORs. However you refuse to do this by cherry-picking items from previous PORs that were denied by the court.
Yes, most of us fully understand some items from previous PORs made it into Amended POR 7 but when you try and make your case YOU MUST use Amended POR 7 and show in the huge document where items are located that proves your case or just move on.
CHEERS...all here will do just fine provided they have timely signed-releases.
...
ron, hopefully, we will all soon find out how a DST and CSC TRUST COMPANY OF DELAWARE plays a vital role in our eventual distributions. Many here want to ignore the following.
I suggest you do more work on the Ownership Change that happened on 3/19/2012 resulting in the transfer of the former WaMu Estate to those investors who signed timely releases by March of the year 2012.
However, there is one very important fact that MOST of us agree on that has done any significant research and have timely-signed releases and that is there will be very large monies that get distributed at some point.
***LET EACH SECTION OF THE FOLLOWING SINK-IN***
________________________________________
From Amended POR 7 signed by the court on 2/23/2012
• set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf
WMI LIQUIDATING TRUST AGREEMENT WMI LIQUIDATING TRUST AGREEMENT, dated as of March 5, 2012 (this “Trust Agreement”), is by and among Washington Mutual, Inc. (“WMI”) and WMI Investment Corp. (“WMI Investment” and, together with WMI, the “Debtors”), as debtors and debtors-in-possession, William C. Kosturos, as liquidating trustee (together with any successor or additional trustee appointed under the terms hereof, the “Liquidating Trustee”), and CSC Trust Company of Delaware as the Delaware resident trustee (together with any successor Delaware resident trustee appointed under the terms hereof, the “Resident Trustee” and collectively with the Liquidating Trustee, the “Trustees”) of the WMI Liquidating Trust (the “Liquidating Trust”).
WASHINGTON MUTUAL, INC. By: /s/ Charles Edward Smith Name: Charles Edward Smith Title: Executive Vice President & General Counsel WMI INVESTMENT CORP. By: /s/ Charles Edward Smith Name: Charles Edward Smith Title: Executive Vice President & General Counsel WILLIAM C. KOSTUROS By: /s/ William C. Kosturos Name: William C. Kosturos CSC TRUST COMPANY OF DELAWARE, not in its individual capacity, but solely as Resident Trustee By: /s/ Alan R. Halpern Name: Alan R. Halpern Title: Vice President
,,,
Ron, here are some facts.
1) Technically former preferred & common prospectuses were still alive until the (ED) Effective Date of 3/19/2012 then canceled on the ED of 3/19/2012. An Ownership Change happened on 3/19/2012 altering the former WaMu Estate ownership to those who signed timely releases by March of the year 2012 nullifying all former preferred and common prospectuses
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
3) If there were monies set aside for preferred then on August 01, 2012, some four-plus months after the ED, an 8K filing was filed discussing Preferred Equity Interests and Common Equity interests would have never been filed to address the message board and other concerns regarding the 75/25. Further, if you want to claim this was done this way to ensure all received monies if not enough then the 8K would have reflected this stating something like once preferred reach Face Value ALL remaining monies go to class 22 however no language exists
4) Judge Walrath was concerned with investors getting more than they should so there is no way the Judge would have allowed the former preferred to get more than Face Value which was $1,000.00 per WAMPQ
5) August 01, 2012, 8K would have never been needed however since it was filed if class 22 was supposed to get the remaining estate/monies, the 8K filing would NOT have been written to show Preferred Equity Interests get 75% and Common Equity Interests get 25%
6) Ron, this case is simple, whatever remains will be returned 75/25 but at any rate, there should be huge amounts distributed at some point so no point in discussing details that we will never get correct in their entirety UNLESS you are AZC who claims he was already paid...now this is really funny
...
Some keep ignoring the fact that all preferred and common prospectuses were cancelled along with ALL associated documents by the court on 3/19/2012
How can there be two sets up prospectuses which would mean dual ownership when there was an ownership change signed by the court on 3/19/2012?
Then an 8K filed later on 8/1/2012 showing 75/25 with 75% of every dollar going to preferred equity interests and 25% going to common equity interests
Ron been eating to many dumb pills again…
…
Let’s go with box cars and close this mess. I expect to see the distribution on Friday!
What you say?
Fred, where are you getting this potentially great news? Is it credible and reliable on the most part?
…
newflow...sounds promising but no way to tell until we see filings or funds deposited into our accounts.
Let us hope there is a connection between this filing and those investors who signed timely releases by 3/2012.
...
GOODIE, yes, this is what Royal Dude sent...thanks
Thanks RD. As big as JPM is, very hard to say what they are using the investor funds for and they always use boilerplate language to disguise their real intent.
...
Xoom, you said the following:
—————————————-
3. When do we peons see $$$ the WMI/DST already received/collected from the Receivership, as a Secured Creditor( as reminded in the WMB abandonment letter) to the tune of at least $ 271.2 B + whatever PREMIUM WMB FSB fetched, as JPM BOUGHT 100% of the WMB fsb stock from the Receivership ?
——————————————-
Let us see who wants to try and respond intelligently and see how that looks but of course there will not be proof.
I can always post the FDIC pie chart that proves 299B in WaMu assets with no loss to the FDIC DIP funds…and do not respond with something stupid like these were deposits as they were NOT DEPOSITS as SHOWN BELOW!
I have said for years that DSTs will play a vital role in our eventual distributions
WaMu 299 BILLION in ASSETS - FDIC OWN PIE CHART PAGE 7
WaMu 299 BILLION TOTAL ASSETS PER THE FDIC
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF 299 Billion in Assets - This Number should Come Up Again
https://www.fdic.gov/about/financial-reports/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf
Bottom of page 7 below pie chart
...
Xoom, you said the following:
—————————————-
3. When do we peons see $$$ the WMI/DST already received/collected from the Receivership, as a Secured Creditor( as reminded in the WMB abandonment letter) to the tune of at least $ 271.2 B + whatever PREMIUM WMB FSB fetched, as JPM BOUGHT 100% of the WMB fsb stock from the Receivership ?
——————————————-
Let us see who wants to try and respond intelligently and see how that looks but of course there will not be proof.
I can always post the FDIC pie chart that proves 299B in WaMu assets with no loss to the FDIC DIP funds…and do not respond with something stupid like these were deposits as they were NOT DEPOSITS!
I have said for years that DSTs will play a vital role in our eventual distributions
…
Have Net-Jet card ready and fatties rolled, sprinkled with dust and ready for the trip of a lifetime
We still on for distributions in year 2050?
BBANBOB, you said the following:
Ron
You suggest that the 25 bill was set aside to SATISFY CLASS 19's claim correct?
HMMMMMMMMMMMMMMMMMMMMMMMM
THEN WHY IS CLASS 22 participating as well
Doesn't this SUPPORT THE CLAIM THAT ANY AND ALL DISTRIBUTIONS will be split 75/25%, you know LIKE TO THE END
...
Xoom , yes you are correct a very hot topic then
Ron, you act as if POR 6 was approved, it was denied by the court. If POR 6 was valid there would NOT be an Amended POR 7! You also believe or previously believed that Preferred and Common Prospectuses are still valid when the court canceled Preferred and Common Prospectuses along with ALL associated documents on the Effective Date of March 19, 2012, when an Ownership Change happened.
How do you ignore major documents signed by the court? Sure, some of the items in previous PORs made it into the court-approved Amended POR 7 on 2/23/2012 however, ALL previous PORs were denied.
Please, when you cite items as facts, please point them out in Amended POR 7 and IGNORE as the court did ALL previous PORs.
...
BBANBOB, you said, I laughed when some said that is why they didn't sign the waivers so they could sue later... NOW THAT BE REALLY FUNNY
Especially when they do NOT have at least net worth of 100 million to start any suit against the likes that are involved...JUST HILARIOUS to say the least!
The ONLY THING Ron has been correct about and since that money has not transferred to us yet, that is not even a guarantee, the fact is there is a lot of money THAT SHOULD TRANSFER to those who signed timely releases by 3/2012
Ron, those of us who signed timely releases should all be fine in the end so do not fret the incidentals...after all,... there are over 800 court-redacted and sealed docs in this case.
....
newflow, thanks for the interesting info. I believe you have posted this before but very interesting....same two people (Logan & Smith) that know where all the bodies are buried are now found in Arizona.
...
ron, you said the following:
_____________________________________
That means that the Plan 6 LT exists, and was carried through to Plan 7. Didn’t need to be discussed in Plan 7 because it had nothing to do with the Creditors other than Class 19 and some other set aside money for Creditors.
_____________________________________
Ron, you are just way too FUNNY making up your own legal system for the WaMu cases. You could NOT BE MORE WRONG!
THERE IS NO POR 6 or any PRIOR to POR 6 as these were ALL DENIED!
While there may be some pieces from prior PORs that made it into AMENDED POR 7, THERE ARE NO VALID PORs prior to AMENDED POR 7 signed by the court on 2/23/2012!
Ron, whatever you post if YOU CARE TO BE HONEST, post the information from AMENDED POR 7 signed by the court on 2/23/2012 if you care to be taken seriously and knock off trying to recreate history.
...
Pooling/Servicing Agreements + DSTs + WaMu Holy Grail + Holy Grail 2 + Book-Value Must be Paid + Preplanned Defective Title -Long Post – Read Carefully
***DST***
http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf
WMI LIQUIDATING TRUST AGREEMENT WMI LIQUIDATING TRUST AGREEMENT, dated as of March 5, 2012 (this “Trust Agreement”), is by and among Washington Mutual, Inc. (“WMI”) and WMI Investment Corp. (“WMI Investment” and, together with WMI, the “Debtors”), as debtors and debtors-in-possession, William C. Kosturos, as liquidating trustee (together with any successor or additional trustee appointed under the terms hereof, the “Liquidating Trustee”), and CSC Trust Company of Delaware as the Delaware resident trustee (together with any successor Delaware resident trustee appointed under the terms hereof, the “Resident Trustee” and collectively with the Liquidating Trustee, the “Trustees”) of the WMI Liquidating Trust (the “Liquidating Trust”).
WASHINGTON MUTUAL, INC. By: /s/ Charles Edward Smith Name: Charles Edward Smith Title: Executive Vice President & General Counsel WMI INVESTMENT CORP. By: /s/ Charles Edward Smith Name: Charles Edward Smith Title: Executive Vice President & General Counsel WILLIAM C. KOSTUROS By: /s/ William C. Kosturos Name: William C. Kosturos CSC TRUST COMPANY OF DELAWARE, not in its individual capacity, but solely as Resident Trustee By: /s/ Alan R. Halpern Name: Alan R. Halpern Title: Vice President
***WMIH Link to Pooling/Servicing Agreements***
Thanks Dmdmd2020 for the research and this is what the document looks like when opened.
Here is proof of WMIH/COOP Participation/Pooling...Look toward the bottom of page two where you will see WMIH listed also on pages 3, 4. 6, 7, 8, 9...almost on ALL nine pages. Be careful as proof and facts could be very troubling.
http://www.consusgroup.com/Report/default.aspx?&Company=washington-mutual-bank-fa&Category=services-218&Library=Companies&Id=100&Page=2&Auth=84bf64ed03
Starting on pg 2 WMIH is listed as the last entity in the participating entities with dates from years 2007 down to the year 2002
Preview
Full Doc
2002
Pooling and Servicing Agreement
? WaMu Bank; ? Fannie Mae; ? ISDA; ? Freddie Mac; ? Long Beach Securities Corp Asset Backed Cert SER 2002 2; ? McGraw-Hill Companies; ? Wachovia Bank; ? Wmih
then open link takes us here with doc's from 2016 all the way down to 2009
***WaMu Holy Grail***
*RETAINED ASSETS*YOUR HONOR*They Will Still Be There*
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
***WaMu Holy Grail Two***
Proof JPM was ONLY Servicing - Monies have been building in court-sanctioned/supervised accounts on behalf of the former WaMu Estate now OWNED by those investors who signed timely releases by 3/2012 and who also have our beloved ESCROW SHAREMARKERS in their respective brokerage accounts.
__________________________________
WaMu Asset Acceptance Corp., as Securitizer, is filing this Form ABS-15G in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which it acted as depositor and which are outstanding during the reporting period.
On September 25, 2008, JPMorgan Chase Bank, National Association (“JPMCB”) acquired the banking operations of Washington Mutual Bank from the Federal Deposit Insurance Corporation (“FDIC”). It is JPMCB’s position that certain of the repurchase obligations of Washington Mutual Bank remain with the FDIC receivership.
Assets are reported herein in accordance with Rule 15Ga-1 regardless of the validity of the demand or defenses thereto, and nothing in this report shall constitute, or be deemed, a waiver of any rights, defenses, powers, or privileges of any party relating to these assets.
http://whalewisdom.com/filer/wamu-asset-acceptance-corp
See FOOT NOTE ONE - Following Link
http://www.sec.gov/Archives/edgar/data/1317069/000092963815000128/wamu-67348_abs15g.htm
From the GSA:
http://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
***Exhibit Z***
Loan Servicing. From and after the Effective Date (3/19/2012), 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).
Notice that it says WMI and NOT WMB?
Also notice that most of the loans are single-family residential loans
And let's see what is noted in the P&A between FDIC as RECEIVER of assets from WMB and JPM. Closing date 25th of September 2014
Let's zoom in on Schedule 3.2 (it is called PURCHASE PRICE OF ASSETS by the way, to avoid any misinterpretation)
(a) cash and receivables from depository Book Value
institutions, including cash items in the
process of collection, plus
interest thereon:
(b) securities (exclusive of the capital stock of Market Value
Acquired Subsidiaries), plus interest
thereon:
(c) federal funds sold and repurchase Book Value
agreements, if any, including interest
thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value
outstanding extensions of credit:
(g) Safe Deposit Boxes and related business,
safekeeping business and trust business, if Book Value
any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiaries: Book Value
(j) amounts owed to the Failed Ban by any Book Value
Acquired Subsidiary:
(k) assets securing Deposits of public money, Book Value
to the extent not otherwise purchased
hereunder:
(1) Overdrafts of customers: Book Value
(m) rights, if any, with respect to Qualified Market Value
Financial Contracts.
(n) rights of the Failed Ban to provide Book Value
mortgage servicing for others and to have
mortgage servicing provided to the Failed
Bank by others and related contracts.
(0) Ban Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value
If you read all this, isn't it very obvious that the off-balance figures on the JPM 10k were made public in 2014 and the closing of P&A in 2014 are related? Not the mention the 38 billion of loans that have not been repaid or liquidated returning to the FDIC receivership?
Isn't it very obvious that JPM as stated in the GSA was a pure servicer for Single Family Residential loans (a.k.a. mortgages) and that checks and payments are to be remitted to WMI?
It's a done deal, of which the proceeds will happen. If you own them, that is.
Also interesting tidbit from the P&A:
(f) Servicing. The Assuming Bank shall administer and manage any Asset subject to purchase by the Receiver in accordance with usual and prudent banking standards and business practices until such time as such Asset is purchased by the Receiver.
There we have the kicker right there. According to JPM's own 10k, it is clear that from 2008-2013 there were no purchased assets. In 2014, with the closing of P&A, these assets were ultimately purchased for Book Value.
Hence the off-balance figures we saw on the R-203 document. Assets were finally purchased and merged into JPM. That's why in 2014 we don't see any former WMB subsidiary on the JPM Subsidiary List anymore.
And:
All transfers with respect to Assets or assets under this Section 3.6 shall be made as provided in Section 9.6. The Assuming Bank shall transfer all such Asset or assets and Related Liabilities to the Receiver without recourse and shall indemnify the Receiver against any and all claims of any Person claiming by, through, or under the Assuming Bank with respect to any such Asset or asset, as provided in Section 12.4.
***Preplanned Defective Title***
10) This all ties in PERFECTLY with Dmdmd2020 defective title research
https://bpinvestigativeagency.com/washington-mutual-bank-sold-these-67529-toxic-loans-and-not-one-single-foreclosure-by-the-investors/
Excerpt - Here, Chase executes this self-serving assignment to itself from the FDIC declaring beneficial rights to the deed of trust even though they disclosed to the borrower that the owner of the loan is “Deutsche Bank Nat Trust Co as Trustee for WAMU 2007-FLEX1.” This particular investor trust was the subject of litigation within the Washington Mutual, Inc. bankruptcy proceeding (See: WaMu Inc Investor Complaint 2010.)
According to the complaint, the WAMU 2007-FLEX1 was a part of three asset trusts set up by Washington Mutual Preferred Funding, LLC (WMPF), which purchased the assets from WMB in 2006 and 2007. The following asset trusts were labeled “Preferred Trust Securities”:
ASSET TRUST I, ASSET TRUST II, & ASSET TRUST III
(Washington Mutual Home Equity Trust I)
(WaMu 2006-OA1)
(WaMu 2007-FLEX1
Excerpt - Very little information is available regarding these “Preferred Trust Securities” outside of this “Confidential Offering Circular.” (See: Asset Trusts Offering Circular.)
However, one thing is crystal clear. WMB sold “67,529” of these toxic loans totaling “$10,947,602,313.00” to WMPF, and was reimbursed for the sale of these assets. WMPF then sold all assets backing these “67,529” loans to investors in these securities. (See: “Appendix E” of the Offering Circular.)
Excerpt – ties in perfectly with Dmdmd2020 research - This fraud story, which Chase and its attorneys continue to stick to, is no longer believable or sustainable based on the cumulative evidence compiled in the public domain.
I can pretty much assure you that all 67,529 of these loans have non-existent and fatally defective chains of title. But here’s something even more dubious and suspicious. In “JP Morgan Chase & Co.’s” 10-K filings with the SEC for fiscal years 2009-2013, “Washington Mutual Home Equity Trust I,” “WaMu 2006-OA1,” and “WaMu 2007-FLEX1” are all listed as subsidiaries of the company, but vanished as subsidiaries beginning in 2014. What I suspect is that these 67,529 loans, or whatever is left of them, were sold by Chase in hedge fund debt purchases in 2014, along with the non-existent chains of title. I’ll save that for another article.
These trusts were set up as Delaware Statutory Trusts with REMIC status. In virtually all PSA agreements for DSTs that are visible, to which the DSTs are irrevocable and elect REMIC status, they are required to maintain complete separateness from any other person or entity. Chase’s naming of these trusts as subsidiaries certainly smell “fishy.” At best, Chase acquired servicing rights to these loans, but even this should not be assumed. How a service can take control of a REMIC Trust and claim it as a subsidiary on its 10-K is beyond me, but I’d sure like to see the documentation granting this authority.
In the meantime, someone explains to me how tens of thousands of foreclosures have been conducted in the names of private MBS REMIC trusts since the crash in 2008, and not one foreclosure appears to have occurred within this toxic group of 67,529 loans in the name of Deutsche Bank as Trustee for these trusts. The odds are virtually impossible.
Per David Dayen’s book, “Chain of Title...”:
Page 295
“Exhibit C: Phoenix Light v. JPMorgan Chase, a 2013 case where investors surveyed the transfer history for 274 loans in JPMAC 2006-WMC4 mortgage-backed trusts, finding that none of the mortgages and notes were conveyed properly before the closing date, making the trust not backed by mortgages (securitization FAIL) and liable for a 100 percent penalty for violating REMIC tax status. A 2012 case against Barclays Bank looked at three other securitizations, similarly discovering that 99 percent of the mortgages were either unassigned to the trusts or assigned improperly. ”
_______________
IMO...conclusions as of September 13, 2019:
1) There are plenty of examples of MBS Trusts such as JPMAC 2006-WMC4, where 99 to 100 percent of the mortgages were not properly conveyed/transferred to the Trust.
2) thus the main question is: Who owns the underlying loans in an improperly conveyed MBS Trust?
Per New York State law:
“Ownership would revert back to the last verifiable owner in the chain”
3) If you believe that using MERS as the entity that recorded transfers, and became a “Nominee Assignee” lender, made all mortgage transfers into MBS Trusts defective (which I believed happened) in the chain of title, this would equate to all WMI subsidiaries created MBS Trusts (using MERS) as having intentionally defective chains of title.
Thus, all the mortgages would be owned by WMI subsidiaries because I believe the last verifiable owner in the chain is WMI subsidiaries.
Therefore, WMI subsidiaries are owned by WMI Escrow Marker Holders!
IMO...all mortgages securitized ($692 billion between 2000-2008) in MBS Trusts by WMI Subsidiaries are owned by WMI Escrow Marker Holders.
***NOW tie this in with (DST) Delaware Statutory Trust Trustee, Kosturos***
set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
____________________________________
The Debtors in these Chapter 11 cases along with the last four digits of each Debtor’s federal tax identification number are (i) Washington Mutual, Inc. (3725); and (ii) WMI Investment Corp. (5395). The principal offices of WMILT, as defined herein, are located at 800 Fifth Avenue, Suite 4100, Seattle, Washington 98104. In accordance with the terms and provisions of the Confirmation Order, WMI Investment Corp. has been dissolved.
• On 12/8/2017 there were several filings including a California WaMu 1031 Exchange dissolved, a Delaware 1031 Exchange opened
• On 1/18/2018 WMIIC is dissolved, then on 2/13/2018 WMIH announces merger with NSM
• On 7/31/2018 WMIH closed merger with NSM
• "The Delaware statutory trust described above is an investment trust, under § 301.7701-4(c), that will be classified as a trust for federal tax purposes."[8][9]
"[M]ay a taxpayer exchange real property for an interest in a Delaware statutory trust without recognition of gain or loss under § 1031 of the Internal Revenue Code?"[8][9]
"A taxpayer may exchange real property for an interest in the Delaware statutory trust described above without recognition of gain or loss under § 1031 if the other requirements of § 1031 are satisfied."[8][9]
...
RECAPITALIZATION OF WASHINGTON MUTUAL - 310 Billion in Assets - Over 610 Billion in Mortgage Servicing
http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
...
BBANBOB, good points. Also, what about the full-year EXTRA the UWs received to decide, plan and get INSIDER INFORMATION?
This was in order to see which class they could get the most out of while ensuring their claim ENDED up in class 19 after actions transpired during the EXTRA YEAR...
AND no way this was by accident...ALL PLANNED with INSIDER INFORMATION as there was absolutely no reason they should have received an EXTRA YEAR to sign timely releases as this should have been considered PREFERENTIAL TREATMENT WITHIN THE SAME CLASS and is NORMALLY ILLEGAL!
...
ReikoBlack, do you believe in the terms Safe Harbor, BK Remote Assets?
If no, then you should have no reason to be following this so diligently as we ALL knew for several years there would be nothing significant in the actual bk cases. If there was, these bk cases would be shown for historical and present times as a fraudulent which could never happen.
So, if you do believe in the realistic bk terms then one should know this would actually have to be played out to the very end before one could be negative to the point of believing nothing is returning. This would mean the following expert legal professionals were and are stupid which I whole-heartedly DO NOT BELIEVE!
1) The very professionals who perform the work of legally protecting Safe Harbor assets such as the UWs are real stupid
2) SG and Steve Susman were real stupid or just sold us out and let the Perps out of a (5AT) Fifth Amendment Taking by deleting the verbiage for ZERO in return.
3) This WaMu drama will not be over until the Receivership is resolved and/or terminated however, distributions would also end this for most of us
4) All the law firms and lawyers who represented the Hedge Funds risk their licenses, standing in society, prison time and much more to legally steal nothing
5) I could go on, on, and on but just a barely coherent individual would get the drift
6) Just remember the following two terms as they will play a vital role in our potential distributions:
A) Delaware Statutory Trusts…(DST)
B) Beneficiary Recipients as a result of being part of a DST
…
XOOM, YOU ARE EXACTLY CORRECT...YES, I WILL SAY IT AGAIN, YOU ARE EXACTLY CORRECT
____________________________________________
Beneficial Holder’s and DST’s are 2 words, Pliss tries to stay away from.
____________________________________________
THE FOLLOWING ARE THE MOST IMPORTANT WORDS LEADING TO OUR EVENTUAL DISTRIBUTIONS
1) BENEFICIAL RECIPIENTS... for those investors who signed timely releases by 3/2012
2) DST = Delaware Statutory Trust...Will play a PIVOTAL ROLE in distributions
...
BBANBOB, are you talking about potential returns between 24B and 625B and potentially more depending on interest which is my guess that would include a couple of separate buckets?
...
Hey fred. If there is to be more litigation regarding the Libor suite, what is the last date to file to ensure the Bar Date does not eliminate their claim?
...
BBANBOB, you stated the following correctly.
________________________________________________
BOTH CLASSES OF EQUITY, BOTH PREFRD AND COMMON EQUITY AND THEIR PARTICIPATION IMHO IS AS THE PAYOUT MATRIX STATES 75/25%
________________________________________________
There was an Ownership Change on 3/19/2012 which would prevent ANY other type of ownership OTHERWISE, there would be duplicate ownership of the same assets and this could NEVER happen in Delaware.
Further, the 75/25 has been dictated by the court in an August 01, 2012, 8K filing showing Preferred Equity Interests and Common Equity Interests to be at the 75/25 ratio, and this decision by the court on the (ED) Effective Date which was March 19, 2012, and will apply all the way to the end whether Safe Harbor protected assets or not. There can NOT be duplicate ownership of the same assets.
Once the ice breaks on this ALL HERE WILL SEE THAT A (DST) Delaware Statutory Trust will play a pivotal role in our distributions!
...
Hey Fred..,this is the MOST logical outcome based on the facts that we know
***BIGTIME PAYOLA***
Yes, otherwise this mess would have been closed years ago
…
stoxjock, you ask the following.
——————————————
Hi LG, Do you know this 'XXXX' the Desert Crooner is crowing about?
——————————————
Let us look at it this way. Forget who XXXX is because it does not matter for the following purposes.
As I have posited for years, a DST will play a vital role in our future distributions. As stated in Amended POR 7, William Kosturos is the DST Trustee who has God-like powers and can arrange mergers, issue stock, transfer real estate, and much more, and those investors who signed timely releases by 3/2012 are Beneficiary Recipients under the DST who own the former WaMu Estate. This happened when there was an Ownership Change signed by the court on the (ED) Effective Date of March 19, 2012
Some investors absolutely refuse to admit that a DST will play a vital role in our future distributions as it does not bode well with their investment decisions before the deadline of March of the year 2012.
From everything I think I have learned is WMI is still alive however, to me it does not matter so let us just call the so called XXXX Grandfather WMI or even ABCD
…
COOP Annual Report For Year 2022 + Annual Meeting info
https://www.sec.gov/Archives/edgar/data/933136/000119312523084561/d412788dars.pdf
https://www.sec.gov/Archives/edgar/data/933136/000119312523084552/d382577ddefa14a.htm
…
boarddork, very nice cliff note version, and summation. I will add, there is no doubt that a DST will play a pivotal role in our eventual distributions so WMI DST as shown in Amended POR 7 with William Kosturos as Trustee with God-Like powers.
Those of us who signed timely releases by March of the year 2012 will be considered Beneficiary Recipients of a DST as NO ONE can own a DST outright.
------------------------------------------------------------------------
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
..
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PRIOTECTED
...
Mr. Cooper Group Incorporated or MCGI…so probably another DST
…
Sounds very promising fred...may be in for a twofer...UWBKQ/WaMu... St Pete is a great area and much more affordable and the Venice area is also very promising...prices all over are skyrocketing in Fla due to DonnyJohnny saving Fla from the rest of the country and world total domination by the corrupt and criminal cabal.
...
Hey fred, now this makes sense and love this "QUITE NICE" return blurb as long as VERY NEAR is not close to the year 2050.
Fred, I am now in your part of the country BUT, I NEED that change to get my LUXURY HIGH-RISE unit overlooking the Gulf and the rest of Florida...hurry...hurry...HURRY or I will be expired at the previous rate of time passing!
There is some fine-looking equipment flying out of this little port in south Naples.
...
clintonj, here you go with the link and more.
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PROTECTED
Xxx
Cura Asada and Dmdmd1 On Same Page For Potential Distributions-Enjoy If An Investor Has Timely Signed Releases By 3/2012
Thanks goes to Dmdmd1 and Cura Asada for sharing their work
From Cura:
The reason for no distribution to Escrow holders is before or on the Closing Date, February 11th, 2023.
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th, 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023, between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
WMB Bk distr dates Feb 1 st, May 1 st, Aug 1 st, Nov 1st
WMI/WMIIC Bk Mar 1st, June 1st, Sept 1st Dec 1st
Litigation Trust Agreement
http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023, between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
These are shares icw the February 12, 2020, $ 2.75 billion loan agreement, to buy outstanding equities that were merged into Nationstar
_____________________________________
From Dmdmd1:
IMO…I try to keep things simple these days, and I’ve learned a lot from this bankruptcy education :
1) I believe the $165 billion refers to the R-203 document, stating the off-balance sheet Private securitizations per JPM 10-k
2) I think they were all Deutsche Bank MBS Trusts that JPM only serviced.
3) THE FDIC-Recivership has no jurisdiction over these bankruptcy remote assets, and a FDIC lawyer stated that in a letter to a WMI shareholder. I contend that the delay in WMI recoveries is not due to FDIC-LIBOR litigations
4) WMI retained beneficial interests in these securitizations ($101.94 billion original face amount)
5) The “source” confirmed my valuation estimates and I think it also confirmed Alice’s valuations too.
6) The WMI recoveries are waiting to by distributed after some timing mechanism, some confluence of events. What that it is, has obviously been kept out of public purview.
7) Other than the FDIC-Receivership being open, there is no other impediment to WMI recoveries. So, common logic has me believing that it is the last obstacle. But I don’t think it is. I believe that WMI recoveries can start despite the FDIC-Receivership being open.
8. Everyone is waiting, and since the “source” confirmed the growth of WMI recoveries (since 2008 from $101.94 billion to $625 billion as of 2021), I think the big boys are happy that it isn’t dead money doing nothing.
9) eventually the WMI recoveries will start, and my WAG is in Q1-Q2 of 2023. The announcement might be as early as first week of April 2023 (deadline for proxy materials to be sent out prior to annual shareholder meeting in early May 2023).
10) IMO…one thing is for sure, every day we wait, the bigger the WMI recoveries grow.
I contend almost 99% of all MBS Trusts have been liquidated into cash by now, and since DSTs have to keep cash in short term obligations, it’s very coincidental that there is an inverted yield curve with respect to bond yields. This inverted yield curve is good for short term obligations!
https://www.investopedia.com/terms/i/invertedyieldcurve.asp
Excerpt:
“ Does Today’s Inverted Yield Curve Signal a Forthcoming Recession?
At the end of 2022, against a backdrop of surging inflation, the yield curve got inverted again.
As of Dec. 2, 2022, Treasury yields were as follows:
Three-month Treasury yield: 4.22%
Two-year Treasury yield: 4.28%
10-year Treasury yield: 3.51%
30-year Treasury yield: 3.56%
As you can see above, the 10-year U.S. Treasury rate is 0.77 percentage points below the two-year yield. That is an unusually large negative gap and the widest since late 1981—when the economy was pushed into a deep recession.”
_______
And US Federal Reserve stated that it will stop raising interest rates in May 2023.
So with the confluence of events above:
1) Inverted yield curve makes short term obligations more profitable
2) US Federal Reserve will stop increasing interest rates in May 2023
3) Mr. Cooper Group’s annual shareholder meeting in first week of May 2023
4) it would mean that if WMI recoveries start in May 2023 or June 2023, then all WMI legacy shareholders would have a lot of dry powder during a continued recession! Thus, all equities are at a severe discount!
...
Cura Asada thoughts on distributions based on filings he/she has read. I find his thought positively provoking plus in the very near future! As I always say, time passing and filings will show us the way forward.
Remember the following. Even as experienced subject matter expert and former poster, CBA09 said, "we may have to wait on the receivership to be resolved before we see our distributions but also said we are sitting very fine with our timely-signed releases
_________________________________________________
Thanks goes to Cura for his following posts
The reason for no distribution to Escrow holders is before or on the Closing Date, February 11th, 2023.
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th, 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023 between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
WMB Bk distr dates Feb 1 st, May 1 st, Aug 1 st, Nov 1st
WMI/WMIIC Bk Mar 1st, June 1st, Sept 1st Dec 1st
Litigation Trust Agreement
http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023 between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
These are shares icw the February 12 2020, $ 2.75 billion loan agreement, to buy outstanding equities that were merged into Nationstar
...
AZC, you wrote the following:
WMI Washington and WMI Delaware will really get conveniently combined' (not just the SEC allowance slick stuff) ... ALL under the big dog' (XXXX) ... and COOP will be just exactly what it says it is, ... a servicing mechanism ... no more, no less'
————————————————
This is what BBANBOB and I have been saying for years so rather than agree with the known facts you want to try and make this a new revelation…you are too funny…now make sure you keep this correct lightbulb lit.
Sound familiar - The DSTs will play a vital role in our potential future distributions
…
BBANBOB, do you think the following explains virtually no discussion on all the positive posts with proof recently?
The diagnosis could be EscrowFluenza:
EscrowFluenza is a direct result of not signing timely releases by 3/2012 to receive NewCo/WMIH shares and Timely Releases for Future Distributions
Definition of EscrowFluenza - one becomes very irate, irritable, hateful, low self-esteem, dizzy, sleepless nights, uncontrollably squirting feces, and volatile at the very mention of Large Style monies returning to INVESTORS WHO SIGNED TIMELY RELEASES BY 3/2012
XXX
THE FOLLOWING POSTS ARE AS CLOSE TO PROOF AS POSSIBLE FOR NOW ASSETS RETURNING TO TIMELY SIGNED RELEASES BY 3/2012 UNTIL A FILING/DISTRIBUTION ACTUALLY HAPPENS
***READ VERY CLOSELY and remember, the assets will still be there, they can go after them later so NOW is later***
FROM Cura Asada - In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.
*** Thanks goes to JJflash, and Split T***
Issued Feb 14, 2023 for Long Beach (on behalf of WMMSC) signed by same person.
Long beach was merged into WMMSC but still filing ABS 15-G.
WMMSC is filing this Form ABS 15-G on behalf of Long Beach, as securitizer, in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which Long Beach acted as depositor and which are outstanding during the reporting period.
https://www.sec.gov/Archives/edgar/data/1119605/000092963823000577/longbeach_abs15g.htm
And it continues for "WaMu Asset Acceptance Corp"...they live ... under the umbrella of WMMSC
https://www.sec.gov/Archives/edgar/data/1317069/000092963823000579/wamuasset_abs15g.htm
JJ, Camille Coles, a former employee of WAMU has been with JPM since the theft by the FDIC and JPM. Wow, President of WMMSC has little left and is in wind-up mode IMO. The question is, where the hell is our money as beneficial owners?
Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 14, 2023
WASHINGTON MUTUAL MORTGAGE
SECURITIES CORP.
(Securitizer)
By:
/s/ Camille Coles
President
FROM Large Green:
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PRIOTECTED
xxx