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.
~ Yes' Just Who's "News" Will Preempt' Who ~
Does the LT Preempt the NewCo ... ? ...
... ? Or' ? ...
Does the NewCo' Preempt the LT ... ? ...
AZ
~ The Last Creditor Class Has Been Left IMPAIRED ~
The Last Creditor Class, PIERS, Tranche 4 Class 16 Securities, ... have achieved ... "Basis" ...
Well' ahead of either of the original projections and Well' ahead of the Credit Facilities needing to be utilized' ... (AAOC's or KKR's)
The Delaware Bankruptcy Court's approval of Plan 7' in it's original presented form, has now been realized' ...
... the employee claim issues already have a DCR assignment' ...
Claimants in Class 16, PIERS, received an LTI at around the Effective Date. These LTIs initially did not have basis for tax reporting purposes. As LTIs in the more senior classes of claims were satisfied by distributions from the Liquidating Trust Disputed Claims Reserve, basis in the Liquidating Trust shifted pursuant to the waterfall set forth in the Plan. As of June 30, 2017, PIERS claimants have basis in the Liquidating Trust.
~ Ouch ? Well, If YOU' Have Truly Been "Day Trading" WMIH ? ~
Maybe you are simply in the wrong line of work' ... ? ... the goal is supposed to be, to make money' ...
good luck, and my last response' ...
AZ
~ Wow, To Acknowledge I WAS Originally Correct ? ~
... That ? Was Definitely Quite A Long Way Around The Barn’ ...
Again, ... Only Twice to date, has the newco traded @‘Exact Value as SEC Reported ... originally upon the exit into reorganization ... and yesterday 10/25/2017
Yesterday's Close ?
10/25/2017 0.74 0.77 0.6115 0.7502 1,204,801
[ ... blah, blah, blah, doesn't matter with ongoing unsettled dual tracking litigation ... ]
Originally' Opened ?
03/28/2012 0.63 1.1 0.63 1 2,596,805
-------------------------
OK sure
Ts
~ Well ? Your Presentation Is Flawed ~
WMI Holdings Corp, opened on the pinks’ on March 28th, 2012 @‘.63 cents and closed @ a buck even’ on the same day ...
AZ
~ Yep' I Know Exactly Why I CHOSE' To Be Invested In WMIH-Corp ~
~ I Know Exactly What I Own ~
and
~ I Know WHO We' Are Dealing With ~
The Massive WaMu Values Have Never Disappeared, ... they have just grown larger' ...
Hedge Funds and Private Equity' ... They', are driving the bus, ... I'm just along for the ride ...
AZ
~ Yesterday, WMIH-Corp Held Steady @ Exact Value' ~
FIRST' ... WMI Holdings (a Washington Company) originally opened in March of 2012' and began trading @ Exact Value', = .63 cents ... 200,000,000 shares issued X's .63 ...
which the BOD's ... "SAID" ... they had zero' knowledge of ... however, ... irrelevant of what anyone said' ... There was ongoing litigation in D.C that was still working through the D.C legal process' ... So ? in my own opinion ? ... at the time, it was open season for the controlling market factions to have their way with the newco' while the litigation in D.C. remained unsettled' ... (now thankfully completed)
SECOND' ... Yesterday, 10/25/2017' WMIH-Corp (now a Delaware Company) held' and closed @ Exact Value', = .7502 cents ... 206,380,800 shares issued X's .7502 ...
I keep track of the SEC reports filed and are legally submitted and signed off on' ... and' ... In My Opinion ? ... There have only been TWO' times in the last Five Plus Years that the exiting reorganized ... WaMu ... has traded and closed at Exact Value' ...
turn the page' ...
WMIH-Corp (a Delaware Company) ... needs' to address the Original Releasing Owners' in an effort to couple its own owned, ... "100% Owned Equity Interest In WMIIC", ... with the Original Releasing Participants portion of Ownership' (Institutions and' Individuals alike) ... However' ...
WMIH-Corp can NOT Legally do this, with any semblance of an enhanced PPS' different than what this newco' is currently reporting to the SEC' ... as of 06/30/2017' 10-Q' ...
The Newco' will be the "Tell" ... In My Own Opinion ? ... I believe what was originally planned for ? happened yesterday' ... and' has not yet been reported' to the public ... a "Shares For Value" event with the Original Releasing Owners' ...
Judge Collyer said it best, IMO ... "Once One Understands Who Is Who ? This Isn't So Difficult to Understand" ... (paraphrased)
... If' ? ... the volume explodes ? the process is on the move' since the float will have changed to a 4 or 5 multiple' ...
~ Watch Your Six ~ and' ~ Know What You Own ~
AZ
~ Oberthal, Again’ It Simply Won’t Matter ~
You, *(and me) will receive just exactly what is decided to be legally released’ and distributed ... period’ ...
THAT’ is why I have been telling everyone, for a few years now, to take the time to ~ Know What You Own ~ as well as, ~ Who You Are Dealing With ~ ...
many of us went out our way to try and help Everyone, to try and Understand the basic distribution functions and mechanics of an ABS-Cert, and how they function as an individual financial mechanism ...
AZ
~ It’ Doesn’t Matter What You (or me) Want ~
It never has, ... then ? or now’ ... You, (and me) were simply able to be involved’ ... period ...
AZ
~ ItsMyOption, ... Yes’ You Surely Can Be Issued “Shares For Value” ~
What you originally received for your Class submitted “Release” ... are not ... escrows’ ...
That term ? ... has been loosely and wrongfully bandied about’ ...
What you received for your original Class submitted “Release” ... are ... “Tracking Markers”, designating your own original percentage of ownership participation in each released class’ ... a necessary counting mechanism, if you will’
AZ
~ Thanks Matt' ~
Everyone Waits' Together' ...
Everyone Loses' Together' ... (When the WMIH-Corp PPS' Tanks like it has been)
Everyone Will Benefit Together' ... (When The WaMu Truth and Values Begin to be Revealed)
Institution and Individual ... Alike' ...
AZ
~ Tacoma, People Like You' Are Why I Still Post Here ~
So, to your question' ... ? ... I will will refer to a few issues that are revealed in the filings' that may help ...
At the March 2012 Reorganization, as we all remember, AAOC provided a credit facility to the newly reorganized company' WMI Holdings Corp (a Washington Company) ... This Credit Facility was originally designed to be replaced as reasonably quickly as possible (it's documented)
I'm not sure where or who got KKR interested' ... But "Interested" KKR became non the less', ... first with the A series and then with the B's ...
This afternoon I found myself also reading the CITI' Bank "Escrow Agent Agreement" for the Original $598,250,000.00 minus some additional fees' ...
CITI, as the designated "Escrow Agent" for the actual money' front paid' ($600 million ish') was to invest the funds' in interest bearing securities, until called upon to be utilized by WMIH-Corp' ... Which has obviously not happened' ...
So, I found myself curious this afternoon, as to how the invested returns were designed to counterbalance the 3% coupon' payable to KKR, however' I did not see that listed' ... maybe variables' I don't know ... anyway' ...
KKR was brought on to provide the cash' which would allow for the replacement of the Original Credit Facility' ...
I truly believe that KKR' expected WMIH-Corp to actually NEED' to utilize the B" preferred transitional securities with the $600 million (ish)' provided ... But ? ... here we are and so far ? Not yet' ...
If I were to encompass a thought' ? ... I believe that everyone' thought the process was moving forward back in 2015' ... But, Did Not' ...
And Now ? as time has moved forward ? ... The "Settlement"(s) have all now been completed' ... and' ... personally, I do not think that WMIH-Corp will need to be financially dependant on anyone' ...
please refer to my previous posts placed here this afternoon, with the Amendment Point 18.15' which Terminated the Jan 2014 A Series Issue' with the ReIncorporation of WMI Holdings Corp' (a Washington Corp) ... now, ReIncorporated to Delaware' ...
I hope that was helpful'
AZ
~ Ron, Thanks for Reading The Text ~
Now that the “Settlements” are complete, ... with WMIH-Corp having 100% ownership of the ... “Equity Interest” ... in WMI Investment Corp . ... (the Original Delaware Corp. and Gaurantor) ... WMIH-Corp doesn’t need to convert the B’ series security’s ...
March 2012, AAOC provides the original credit facility ...
January 2014, the A series take effect ...
January 2015, the B series take effect ... using WMIIC as the guarantor’ ... BUT’ ...
it is amended as of 12/19/2014, to “Terminate” the Jan 2014 A series IF ? a “Reincorporation” takes place’ ...
WMI Holdings Corp (a Washington Company) ... Reincorporates to WMIH-Corp (a Delaware Company) ... Canceling / Terminating the Jan 2014, A series offering, as the point 18.15 Amendment States ...
WMI Investment Corp. ... IS the Original Delaware Company
None of the credit facilities are needed ...
AZ
~ Hedge Funds ? & Private Equity ? ~
WMI's (now, WMIH-Corp)'s, ... WMB Banking Sub, That Has Now Been Removed From The Original Consolidated Taxing Group ? ... And' a Replacement Credit Facility that Was Not Needed ? ...
The Second Lien Notes have been fully redeemed by the Company and in connection therewith, the Second Lien Indenture was satisfied and discharged as of October 2, 2017 as provided under the terms of the Second Lien Indenture, which resulted in the release of the liens on the assets of the Company that secured the Second Lien Notes.
AMENDMENT AND WAIVER dated as of December 19, 2014 (this “Amendment”) to the Note Purchase Agreement dated as of January 30, 2014 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Agreement”) by and among WMI Holdings Corp., a Washington corporation (together with its successor in the Reincorporation (as defined below), the “Company”), WMI Investment Corp., a Delaware corporation (the “Guarantor”), and KKR Management Holdings L.P. (the “Purchaser”). Capitalized terms used herein but not specifically defined herein shall have the meanings ascribed to them in the Agreement.
2. Amendment. The Agreement is hereby amended to add a new Section 18.15 as follows:
Section 18.15. Automatic Termination of Agreement Upon Reincorporation. Notwithstanding anything to the contrary contained herein, this Agreement shall terminate and shall have no further force and effect immediately and automatically upon the consummation of the Reincorporation, without any other or further act or deed on the part of the Company, the Guarantor, the Purchaser or any other Person. In the event that the Reincorporation is not consummated, this Section 18.15 shall have no effect. If this Agreement is terminated pursuant to this Section 18.15, such termination shall not affect the Company’s and the Guarantor’s obligations under any Notes outstanding at such time. For the purposes hereof, “Reincorporation” shall mean the reincorporation of the Company, not later than 180 days after January 5, 2015, from Washington to Delaware, resulting in the increase of the size of the Company’s Board of Directors from 7 to up to 11 members and the authorization of a number of shares of the Company’s common stock sufficient to permit the conversion of all shares of the Company’s 3.00% Series B Convertible Preferred Stock offered and sold on December 19, 2014.
~ Intuitive, You Are Welcome ~
The "Equity Interest" in WMI Investment Corp. (WMIIC) ...,
... (as referenced, WaMu BK Filing # 1; ... per S. Landefeld, "100% of the Equity Interest in WMIIC belongs to WMI"), ... obviously now reorganized into, WMIH-Corp' ...
Is directly referring to the Original WMI' percentage of the "Loan to Value" participations' in Asset Backed Securities Certs' (Trusts), again referred to as ... ("Equity Interest") ...
WMI' the parent corp' had used these percentage participations in ABS-Certs (Trusts) as all financials did' and still do' ... as Cash Generating Monthly Income Return' Financial Mechanisms' ... Which Needed To Be Protected, Separated, and Segregated, from The WaMu TWO' Bankruptcy Proceedings' ...
I mapped all of this out within my linked' and documented presentations of "The First Day Filings" a few years ago' ... this research that I revealed, obviously bothered someone ? or, some group of someone's ... however, the work took a lot of time to sequence' ...
... Now ? It has been some Nine Years Later' ... and, the Trusts have obviously continued to perform' ... simply consider DB'
WMI' the parent corp's percentage of participation ? originally held in WMIIC ? ... needed to be protected' ...
the WMI Preferred Program ? was already separated and was fine' and functional ... as well as the WMB Noteholder program', again fine and functional ...
If one takes the time to parse the words spoken by the WMIH-Corp BOD's ?, they do not lie' ... they simply do not reveal what is not ? or was not available at any defined moment in time' ...
Now ? Now that the "dual tracking" litigation process has all been finally "Settled" ? I believe things will change' to the good' ...
The WMI Preferred Offering defines "Equity Interest" to "NOT BE CONSIDERED DEBT"
AZ
~ WaMu’ ? Only Happened Once’ ~
The investment protocol changed in 2009’ ... WaMu ? ... Was Different’ (and’ should NEVER be compared to the Kmart issues, not even close) ...
I don’t ever, ... “wish and hope” ... when I am investing hard cash ?, ... I do the work, and then I invest accordingly ... period’ ... and Yes, I Can Afford to be here’ ...
I saw the nonsense being promoted during the 1st quarter of 2012’ ... which continued on at an accelerated level on these discussion forums, ... and chose’ to step in ... again, in an effort to help ...
... If ? ... your DD leads you to a different conclusion ?, ... so be it’ ... I won’t be bothered ...
... It is the lying, by some that puts a burr under my saddle ...
AZ
~ No, NOT Dummies At All’ ~
That ? Is Not What I meant At All’ ... It’s bad enough that the LT propaganda machine, ... Goes out of its way to, “Twists” things up, ... don’t you do that as well’ ...
Most normal and intelligent investors, simply do not follow the intricacies of a multiple staged’ ... “litigation process” ... at these levels ...
investing ?, is one thing, ... bankruptcies ?, are quite another, ... litigation legal process ?, ... WaMu ? ... is in a class of its own’ ...
I am here to diffuse the nonsense
AZ
~ JWW, Yes I Am Convinced 100% ~
AZ
~ It’s Simply Over Your Pay Grade, Nothing More ~
... The WMI-LT’s propaganda machine, has done a good job of “Twisting”, things up’ ... as well as, confusing honest people ...
However, ... It doesn’t change a thing’ ... The WaMu values, have NOT Disappeared, ... only some of the participants have, ... as was planned’
AZ
~ Well ? Sort Of' But Not Entirely ~
The ... "Equity Interest' ... in WMI Investment Corp ... ? ... has been sort of tied up in litigation, until just recently' ...
AZ
~ Well ? Read an SEC Report Once in Awhile ~
The current pricing structure is consistent with reported "value" as reported in the WMIH-Corp, 06/30/2017 SEC 10-Q Filing' ...
... Follow ALL of the process, ... Not One Part ...
AZ
~ Yep, You Are Quite Funny' ~
... Maybe a WMIH-Corp comedy special ? in lieu of a book ? ...
I actually presented my "source" a very long time ago over on the other forum' ... you know, the derivative of the original LT's propaganda machine' ? ...
guess you' missed it' ? ... OR' Chose To SIMPLY Be Quiet ? ...
AZ
~ Here', This May Help ? ~
... WMIH-Corp, As the now' reorganized WMI' ... IF' ... WMIH-Corp wants to gain control over, ... "100% of the "Equity Interest" in WMI Investment Corp" ... (as just one of a few examples)
WMIH-Corp needs to do business with its current remaining, ... "Partners" ...
WMIH-Corp's current partners are, Those of us that properly' Class Released at the "Original Reorganization" ...
Lots of participants "Released" ... Individual and Institutional Alike'
~ Know What You Own ~
AZ
~ Not Hardly' - Paying Attention Pays Off ~
(Always)
AZ
~ WMIH = "Not" An Empty Shell With Some NOL's ~
... This load of ? Was "Always" Complete & Total Purposely Misleading Nonsense' ...
I have said this presented' notion was total nonsense, consistently over many, many, years' ...
AZ
~ WMB', WaMu's Banking Sub' Is Now Gone ~
... WMI's Original Banking Sub, ... WMB' ... Is Now Gone', and has been removed from the Original WMI' and Reorganized WMIH-Corp, ... "Consolidated Taxing Group" ...
... Now ? ... WMIH-Corp publically trades on pure Value' ...
All of which, has not yet been publically revealed and realized' ...
AZ
~ Goodie’ Thoughts ?, Yes I Have ~
And all based on my own DD, and study of the Entire Process ... As I have said many times, ... I believe that a forward move by WMIH-Corp, will be the initial ... “Tell” ...
I would NOT be surprised to see an announcement that the newco’ (WMIH-Corp) is going to re-open under a new name and new cusip’ ... just so that none of the original WaMu stigmatizm is attached moving forward ... and eventually ? ... forgotten ...
Outstanding share float ? ... Continuing Operational Subs’ ... Multiple Cash Returns ? ... Anything is possible at this point in time, now that the restrictive litigation has all been “Settled” ... What HAS NOT EVER disappeared ? ... Are the Original massive values’ ...
AZ
~ Well ? It NOW' Depends On What YOU' Owned And Released ~
Your Original (segregated, tracking markers) received for your Class Releases' ...
Currently' ? and aligned with my own conclusions and calculations' ? ... YOU (and me')' ... are NOW' going to deal with a publically traded company, with a real BOD's and real shareholders' and REAL SEC Responsibility's ... a New Company, that needs to do business with the Original WaMu Class Releasing Participants' ...
... So' ? ... The Newco' (WMIH-Corp) is mandated to do business with the Individual Owned Classes Released' ... (Reference = S. Landefeld as Filed')
This ? Is why have tried to prepare everyone for the future events that I HAVE ALWAYS believed were on the horizon, Once these "Settlements" were finally completed' ... (thankfully now completed)
So, ... In Short ? ... WMIH-Corp will do business with just exactly who this Newco' needs to do business with' ... FIRST' ...
AZ
~ It Is A "Shares For Value" Event ~
Calculated at the current decimal level pps' ... aligned with an original and initial' returning cash infusion, and a recognition of the actual releasing owners of the Original WaMu Estate' ... (~ Know What You Own ~) - (No' LT' Propaganda Nonsense double talk')
WMIH-Corp doesn't have any negotiated value "other than" shares of itself' ... the "credit facility" will not need to be used' ...
WMIH-Corp, in its present tense, is trading at SEC 06/30/2017’ properly reported value
this coming event has zero to do with the existing market, post the implementation date 03/19/2012 ... the initial' cash infusion will align perfectly with the calculated share distribution' ...
the reorganized newco' (WMIH-Corp) needs to do business with the Original Owners of the Estate' ... First' ...
... My Opinion ? and, My Conclusions' ... I believe that a 4 or 5 multiplier of the original share transition, to the original releasing owners of the estate' ... is coming' ...
Simply Put ? ... If $890,000,000.00 million dollars (ish) is initially returned to newco ? ... existing owners will need to be issued a multiple of 890 / 200, or 4.5 to 5 times the original distribution of the reorganized company that a participant received for their associated Class Release ...
Again, ... My Conclusions and My Own Opinions' and reasonably Rough Calculations' ...
AZ
~ Reorganized WaMu (WMIH-Corp) Present Tense ? ~
I've just never been convinced that everyone, has truly taken the time over the last five plus years' since the Implementation of Plan 7 on (03/19/2012) ... to actually take a moment to review what they' ( ... We' ... ) are involved in' the "dual tracking" litigation at hand, and the financial enormity of it' ...
The WMB Noteholders, ... are' ... the ad-hoc, "Steering Committee" as they are referred to in March of 2016' as the "Settlement" occurred later the same year, in August 2016' ... now, as that "Settlement" requirements have all been completed' ...
There were the "Settlements" achieved in through mediation in the bankruptcy court' ... as well as' ... three additional lawsuits' ... again, now completed' ... (thankfully)
Added: ... Oh and for those that do not recognize for whatever reason ? ... the following text provided ? ... This is direct text from the Disclosure Statement
I surely hope that ... "everyone" ... at a minimum, class released as instructed to do (41.6) back in first quarter of 2012' ...
The Claims of the Debtors, JPMC, the FDIC Receiver and FDIC Corporate are the subject of myriad disputes in the Bankruptcy Court and three lawsuits in which the Creditors’ Committee and certain holders of funded indebtedness of WMB (collectively, the “WMB Notes Holders”) have either intervened or seek to intervene. The three lawsuits consist of (i) a lawsuit initiated by the Debtors in the United States District Court for the District of Columbia (the “D.C. District Court”) against the FDIC Receiver and FDIC Corporate (the “D.C. Action”) challenging the FDIC Receiver’s disallowance of the claim WMI asserted in WMB’s receivership and asserting various additional claims, in which JPMC has intervened, (ii) an adversary proceeding initiated by JPMC in the Bankruptcy Court against the Debtors and the FDIC (the “JPMC Adversary Proceeding”), in which the parties thereto have asserted various claims, and (iii) an adversary proceeding initiated by the Debtors in the Bankruptcy Court against JPMC (the “Turnover Action”) for turnover of in excess of $4 billion of the Debtors’ funds on deposit in accounts now held by JPMC (the “Disputed Accounts”), in which the FDIC Receiver has intervened.
~ ex, Did You Miss The Jan 2011 Opinion ? ~
Or the Bench Ruling from Judge Walrath ... also in Jan 2011 ? ... which lead to Plan 6’s failure as submitted ? ...
I mean, when there are 13 documents filed “in support of” Plan 6’ by the debtor ? ... and 12 of them needed to be filed under “Seal” ? ... you gotta know, something is up ? ... Right ? ... yeeesh’
... If’ ? ... a few of you were here to simply fall on a sword for a cause ? ... Fine’ ... I’ve only cared about the Truth ? and the Massive WaMu Financial Returns, ... Money’ ...
AZ
~ LG, Yes I Agree, On Paper ?, True Value Is Still Less ~
However, ... IMO, as ... We’ ... have been, ever since 03/19/2012’ ... We’ ... remain in a controlled environment for an obvious purpose ... everyone can see that’
... We’ ... are presently quite close to the original exiting transition numbers’ ... again, IMO for a distinct purpose, which should soon be revealed ...
WMIH-Corp, as the reorganized WMI’ ... (Still), Owns 100% of the “Equity Interest” in WMI Investment Corp. ...
If I were to take a stab at what’s coming ? ... I would say that the LT will try and save face by another preemptive’ Press Release, ... just like the LT’s need to already restate it’s position a few times, ... most recently when the company had its conference call ...
I’m currently watching for anything ... including the transition of my own Tranche 5, original Class 17b, Now Class 18, WMB Bonds ... with their already Nasdaq assignment of a JPMC designation along with, ... The WMB Fixed Income Security’s are no longer listed “In Default” ...
AZ
~ Uptick, How Is This So Difficult ? ~
Wmih-Corp is trading at SEC Filed 06/30/2017 Value’
Any WMB Bank, NOL Tax Advantage and possible value ? ... is now gone with the completed P&A Agreement between the FDIC and JPMC ... WMB IS Gone from the Original Consolidated TAX Group ...
The credit facility has never been used’
The Cash associated with 100% of a B’ Preferred transition, has never been enough for a true M&A ... that ? was never going to happen’ anyway
The relevant dual tracking litigation just recently got completed ... my goodness’
AZ
~ 2221, I Truly Appreciate Any Honest Study Presentation ~
... wwhatthe’s presentation here yesterday, included ... the view presented took time to present, and was very well done’ ...
The way I Currently View Things, ... We’ ... have a, TWO (WMIIC & WMI) ... debtor representation still ongoing, ... as well as a, ... Reorganized Nasdaq Publicly traded company (WMIH-Corp) ... with Real Shareholders and a Real Board of Directors ... Truly, TWO separate issues’ ... (legally) ...
The returning values ? In my opinion ? ... yes, are quite massive’ ... and they will be coming from multiple areas ...
AZ
~ ADDED; PIERS’ Have Achieved “Basis” @ 06/30/2017 ~
So, No 13% interest paid associated with the 2nd lien notes, since, WMIH-Corp, ... did not actually use the credit facility for other than its operations necessary ...
... ouch’ ... Right ? ... sorry piers class creditors, this is the ending result for trying to take it all’ ... or trying to take, too much ... ? ...
no, no ownership markers ?, no newco’ shares ?, capped ? and now ?, no 13% ? ... “dollar for dollar” ... some quite “colorable” events, all thing considered ...
AZ
~ Here Are The WMIH-Corp “Tells” I Am Watching ~
... 1st, ... for a public update or an 8-K, with a reveal of a WMIH-Corp. new company updated process, since all of the 09/30/2017 end of date reporting periods are coming due within a few weeks ... again, there are some SEC filings due ... “as of” period ending 09/30/2017
... 2nd, ... to the current date it appears to me as of 06/30/2017’ (the last Q’ report released for review) ... that WMIH is being held at literal value ... .98 cents plus or minus.13 cents ... with WMMRC showing a net value of $32 million ... and roughly 206 million shares out ...
... 3rd, ... evidence that WMB, Class 17 (the Notes) have (17a & 17b) ALL, transitioned to JPMC, along with WMB’, now that the P&A Agreement is completed ...
...4th, ... evidence that Class 17b (WMB Subordinated Notes) have now properly “subordinated” to Tranche 5, Class 18 ... now that the FDIC’ has completed its business with the WMB Seniors’ Class 17a ... and Class 17b, now subordinated to Class 18, receives alternative LT distributions on a pro rated assignment ...
... 5th, ... and ? A properly updated FDIC WMB Balance Sheet, would be appreciated ...
In My Opinion ? There will be news (positive news), ... ahead of the soon to come SEC Filings, ... date certain filing requirements as of 09/30/2017’ ...
AZ
~ JB92106, That ? Is Actually Correct ~
Yes, ... We’ ... Actually Are Ahead of Schedule, ... WMIH-Corp was originally projected to still owe roughly $108 million dollars of the original $130 million in Run-Off Notes’ ... projected balance remaining as of 12/31/2017’
Now, paid off in full, and the liens released as of 10/02/2017’ ...
AZ
~ What's Next ?, Well, NOW You Will Get To See ~
Now ?, You (and me) will get to experience and see, just exactly what was attempted to be legally kept from you, had Plan 6 actually been approved and the entire "dual tracking" legal process, ultimately end at the PIERS (hybrid) Creditor Class' ...
... (I say it is a lot', yes $Billions') ...
the relevant changes made in Dec 2011' (mediation) after Plan 6 failed were, the proper subordination of the WMB Bond's (forced by the WMB Bank Noteholders "Accredited Investors") ... Now the WMB Bonds are gone to JPMC along with WMB' ...
... and'
The Process, eventually ends with Tranche 6, as it rightfully should' ... The WMI Preferred Offerings Holders, and the WMI Common Shareholders'
In My Opinion, ... We' ... will be now be notified of the sale of WMMRC', by WMIH-Corp, now that the associated debt' has been paid off ...
(the plan to sell off WMMRC' was a part of Plan 6's original submission, Now ? with the debt paid off ?, this can also be done')
AZ
~ The WMIH-Corp Debt Is Now' Paid As Of 10/02/2017 ~
"The Second Lien Notes have been fully redeemed by the Company and in connection therewith, the Second Lien Indenture was satisfied and discharged as of October 2, 2017 as provided under the terms of the Second Lien Indenture, which resulted in the release of the liens on the assets of the Company that secured the Second Lien Notes."
~ The Plan To Sell WMMRC, ~
Was part of the original Plan 6’ submission ... I don’t think that future consideration changed with the transition from the failed Plan 6, ... to the approved Plan 7’
AZ