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.
~ Goodie, ... This Is What I Did' ~
Just in Case' ... beyond all of my own Holdings, I'm also heavy in WMB Fixed Income' ... So, I opened positions in JPMC & DB' ... just in case' ...
I released everything at the reorg, ... and I've never sold any of my WMIH-Corp shares, ... I've only added, and added, yes, a lot' ... but, I've also read and heard that many folks have sold all of their WMIH-Corp shares for many individual reasons, ...
I just think it is a good idea to have some type of an actual open and operational account, ... again, just in case ... so, I thought suggesting a buy of say 10 WMIH-Corp shares, ($10 bucks ish) plus a fee' ... like $20 bucks total, ... was a good idea, and accomplishes one having that open position, ... again, just in case' ... that's all
AZ
~ Bo' As Always, Well Done ~
That is why I thought that no one should either ... "Take a Chance" ? ... or, ... "Leave Anything tooooo' Chance" ? ... Not with this group' of secret keepers and slick wording' specialist' ... the BOD's and the WMI-LT ...
My caution was a result of My Own' conclusions arrived at, after my study of the DTCC process (DTC, Clearstream and Euroclear) ... Computershare' ... as well as correspondence that I have had with KCC' ... our designated ... "Claims Administrator" ...
The DTC through ones Registered Broker, is the distribution mechanism' ... however, ... it also appears to me that ... Neither' ... the DTC or ones Broker, can actually Open' a new position on ones behalf' ...
So again, ... I'm simply not leaving anything at all to chance' ... I was not included in the Steering Committee's Settlement discussions, ... So, I'm also not sure who' said okay to what' ... ? ...
(maybe ? DB wasn't "able" to pay up with cash' ?) ... hope so, but then again, like you said, ... Right ?
Remember, ... "Tracking Markers, in and of themselves, Do Not depict Value" ...
AZ
~ Turning The Page, While We Wait ~
In My Opinion, ... for a very long time now, as I have believed and stated, many times' ... This ? IS a true derivative of the original Plan 6' ... legally, reworked to segregate the WMB Bondholders (needing to be, properly subordinated under Rule 510)' ... and then, the failed Plan 6 transitioned into the Approved Plan 7' with attachment H' reworked ...
the WMB Bondholders - Refused - to accept a debtor representation offered, Class 12, General Unsecured placement, and the WMB Bondholders, forced subordination beyond the - Creditor Class - Plan 6 was originally designed to end at the Class 16' hybrid Creditor Class ... so the attempt to get the WMB Bondholders to accept a Class 12 general unsecured placement, would have been a financial home run' for the 16's ... obviously, things did not work out that way' ...
The TPS, argued that the "Exchange Event" did not happen, and then, that it was not legal, ... They' Lost ... The TPS securities transitioned @ 8:00am on 09/26/2008 just ahead of the two bankruptcies filed later the same day, ... to a WMI Preferred, ... obviously, as they transitioned legally to a WMI Preferred Security, ... JPMC was unable to gain financial control of them' ... JPMC' could only "service" the loans within them' ... For Us' ...
There were numerous attempts to disrupt the process' ... yes numerous attempts, by many motivated factions' ... the ending result at the actual owners of the estate, ... has been upsetting to many' ... the WaMu financial prize has, and currently is ? ... massive' ...
Now that the Settlements are "Both" documented and finalized ? (WMI I' which was completed with the Approved Plan 7 Reorganization ? ... and, ... WMI II' now in the final stages of completing its own Settlement requirements) ... the process will soon begin' ...
AZ
~ CKaufman, ... 100% Correct' ... It Is What It Is ~
The choices ? They have already been made by the individuals ... Nothing, Absolutely Nothing, Will ? or Can Change That' ... I just chose not to listen to all of the presentations that were being made on the net' to do this' or to do that' back in the first quarter of 2012' ...
I had followed both cases, ... the ongoing process in, Judge Walrath & Judge Collyer, ... and made my own choices back then moving forward, ... I'm not upset about any of my own choices, ... nor, am I arguing about this issue with anyone ...
AZ
~ Again ? Seriously ?, I'm Not Continuosly Bringing This Issue Up' ~
This issue is obviously quite a sensitive subject matter for a few of you, ... Yes, I did the deeper document study and the research, and in an effort to help the larger group, ... I revealed what the documents actually stated ... in lieu of what the WMI-LT Propaganda Machine had been presenting by use of a Net', put into place group, ... as well as the ambiguous wording that the LT chose to use' ...
Here is my ... unchanged ... opinion on the subject' ...
The 75% / 25% distribution calculation' ... IS LIMITED, ... to a RE-DISTRIBUTION of ONLY, what ends up being the remains of', or the unused portions of', the WMI-LT's original Court Assigned, Disputed Claim Reserve (DCR) ...
No, ... I have not changed my mind on this issue, ... nor, do I care about the remains of, if any ? Of this WMI-LT ...
I'm Truly Only Here for the big money' ... the now allowed, "Settled" returns aligned with, ... WMIIC / WMI / WMIH-Corp / WMB Bonds / WMI Preferred Offering / plus', plus', plus ... These, are the subjects of my focus' ...
Here is a suggestion, ... read a WMI-LT QSR, ... the relevant and large financial returns, ARE SIMPLY NOT THERE' ... or, ... contact the assigned "Claims Administrator" and simply ask, when YOU are scheduled to be issued an Interest in the WMI-LT, (an LTI) ... my research is quite thorough, involved and encompassing ...
These reveals of information, are based on my own conclusions and opinions on the subject, - Everyone' Can Believe What Ever They Want, ... It's OKAY' ... after all, Right ? ... I like to deal with reality, not wishful thinking' ... but that's just me, ...
AZ
~ T's, I Know Right ? ~
A bit of an over reaction by a few of these boys ? ... Why would anyone discourage someone from spending like $20.00, to have an open WMIH-Corp account, - just in case - unless ? ... memorez' of 2012 ? ... like I said, I'm not taking any chances ...
AZ
~ So Now, A WMIH Review of its Capital Structure ? ~
These guys are toooooo much, ... didn't any of them ever think to read the parent corps SEC Submissions ? ... I think I recently posted the SEC Filing reveals (choose to review either the most recent WMI 10-K, or the 10-Q), that ... WMI was actually a "Holding Company", ... WMI WAS NOT A ... "Bank Holding Company", ... as well as the SIC Code applied to the new company ? ... seriously ... ? ...
How can they keep saying this stuff with a straight face' ...
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2008
https://www.sec.gov/Archives/edgar/data/933136/000104746908009146/a2187197z10-q.htm
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007
https://www.sec.gov/Archives/edgar/data/933136/000104746908006870/a2185889z10-ka.htm
The Parent is not required by the OTS to report its capital ratios, and as the Parent is not a bank holding company it is not required by the Federal Reserve Board to report its capital ratios. Nevertheless, capital ratios are integral to the Company's capital management process and the provision of such metrics facilitates peer comparisons with Federal Reserve Board-regulated bank holding companies. The ratio for the Company's tangible equity to total tangible assets, along with the estimated ratios for Tier 1 capital to average total assets and total risk-based capital to total risk-weighted assets which exceed minimum regulatory guidelines, are presented below.
Effective October 17, 2007, Washington Mutual Bank consented to the issuance by the Office of Thrift Supervision ("OTS") of a cease and desist order requiring Washington Mutual Bank to comply with the Bank Secrecy Act ("BSA") and related BSA regulations and regulations governing suspicious activity reporting. Although no fines or restrictions on Washington Mutual Bank's activities have been imposed by the OTS, failure by the Company to comply with the terms of this order or other applicable laws and regulations could have a material adverse effect on the Company's business, financial condition or operating results through the imposition of additional sanctions
Like all depository institutions with federal thrift charters, our subsidiary depository institutions continue to be subject to examination by their primary regulator, the OTS. The OTS examinations occur throughout the year and target various activities of our subsidiary depository institutions.
~ Interesting' PR & 8-K, Well, I'm Leaving Nothing' To Chance ~
"Tracking Markers' in and of themselves do not depict value" ... hhmmmm, where have I heard that before ... ? ...
Well, you guys do want ever you want to, ... to me a few of you sound like its the 1st quarter of 2012 all over again' ... I did my own DD and my own thing' back then as well, ... no piers and I released everything' ...
... Me ? ... Yeppers, I have open and available for distribution, "Target Accounts" in ... My Trading Associated Cash Money Accounts ? ... as well as multiple cusip' positions in WMB Fixed Income (Yep, That's Class 17) ... obviously multiple large positions' in WMIH-Corp, ... as well as open positions in DB and JPMC' ... "Just In Case" ...
just sayin'
AZ
~ Well, You Are Honest & Yes, I Actually Understand ~
Individual choices' should be Respected, as well as - Life - also has a way of (financially) affecting people, ...
However, ... If I may ? ... and Just A Suggestion from a stranger on the discussion forum, ... I would encourage you to also open a small position (an active Target Account) ... in WMIH-Corp, ... 10 shares plus a fee for $20.00 bucks or so, ... Just In Case ...
AZ
~ What Happened to your WMIH-Corp Shares Issued ? ~
... Did you choose to liquidate that entire position ? ... or, ... did you keep a few active, to maintain an open "Target Account" ? ...
AZ
~ Well, ... First ? ~
You would have take the time to understand just exactly, ... WHAT ... you actually have in your account, ... and then Second, ... ~ What You Actually Own ~ here, I'll try to explain, ...
WHAT YOU DO NOT OWN, is anything called, ... "escrows" ... the escrows are gone' ... they transitioned at the 03/19/2012 Plan 7 Implementation, ... to, ... a pre calculated designation of shares in the new company = WMIH-Corp, ... as well as ... "Tracking Markers" ... which designate, YOUR OWN SPECIFIC number of released WaMu Securities, ... which are used to calculate your own specific amount of a recovery or a future distribution ...
So in your case' ... IF' ... ? ... your correct assignment of tracking markers shows properly in your account, ... as well as, an open trading account with at least a few WMIH-Corp shares in it, ... as well as, an active associated "cash" money market account, ... Yes, You should be OK ... I don't expect everyone to have the same resources ... now, ... do me a favor, and quit bitchin' every 10 minutes ...
AZ
~ Intuitive, Regarding Your Question ~
A "Target Account" is an Open Destination Account at your own individual chosen Broker, an open and active account, that is in a position for your own chosen Broker to also be in a position to make deposits into' your (target) account' on your behalf once notified by the DTC / Clearstream / Euroclear ... depending on what part of the world that you live'
Neither the DTC or your own chosen Broker' are in a position to actually open a position on your behalf' ... They' can only notify you', and we' should all know by now, how that works out ...
So, ... In My Own Opinion ? ... (and humorously' without sounding mean or hurting anyone's feelings' like a 12 year old' ... yyeeesh' ... Right ? - some here should simply grow up -) ...
I would suggest that you have your Target Accounts in place' in the event of a WaMu related "Settlement" distribution' ...
I've been doing this a long time, (Investing, NOT' posting regarding investing) and I have currently chosen to have Target Accounts, able to be utilized by my own Broker(s) for receipt of any possible distribution returns ... Cash' (each trading account has a funded associated money market account) ... also open monitored positions in WMB Fixed Income ... as well as open monitored positions in WMIH-Corp, JPMC, and Deutsche Bank' ...
Securitization Trusts' Offerings, are prospectus able to be converted to shares of the parent of the same' ...
AZ
~ You Are Welcome, Just Remember ~
Everyone' ... individual and institutional investor alike' ... have ALL been waiting and watching together' ... waiting for these "Settlements" to be completed' ... (WMI I' @ Plan 7's Implementation, ... and now, ... WMI II') ... there is NO' WMI III' ...
As I can obviously only suggest in an effort to help you and everyone' ... Just Make sure that your "Target Accounts" are in proper order, and make sure your Profile is current with your Broker' (s) ...
WMIIC / WMI / & WMIH-Corp, ... were always ? and are' currently, the real deal' ...
AZ
~ You Are Doing Just Fine ~
"Until the formalities are done no one can touch any money" ...
Yes, I Agree, ... simply replace the word "formality" ... with the word, ... "Settlement" ... (as thankfully, we are currently witnessing the completion of the Settled agreements) ...
The Performing ABS-Certs (Trusts) ... are many' ... their prospectus driven cash produced, has been legally placed on hold, accumulated and subsequently held on behalf of the estates original percentage of ownership, ...
The Trust's ... and their monthly Cash production continues, as long as individuals continue to pay their mortgage payments on a monthly basis as well, ...
Now, ... In My Opinion ? ... the accumulated cash held since 10/02/2008 belongs to the Plan 7, releasing (41.6) owners of the Original WMI Estate' ...
And Also, ... In My Opinion ? ... IF' ... WMIH-Corp is interested in also financially gaining, from these unstoppable cash producing ABS-Certs, Trusts' ? ... then WMIH-Corp must also approach the Plan 7, releasing (41.6) owners of the Original WMI Estate' ...
The accumulated "Cash" is one thing' ... however, If ? WMIH-Corp wants to approach the releasing WMI Estate owners ? ... currently, the new company is Cash poor' ... and can only approach the releasing owners, with a ... common or preferred share offering' ...
These are my own opinions, and conclusions' ...
AZ
~ Yeah, I Don't Do That ~
I bring the WaMu "dual tracking" process and associated WMIIC / WMI / WMIH-Corp due diligence, filings, documents, etc., ... to these open discussion forums, in an honest attempt to allow the individual to make their own choice or decision' ... sorry, I simply don't make buy, sell, or hold, security suggestions ... I never have' ... there has been so very much that has been misrepresented, purposely in my opinion ...
However, ... What I will do is refer you to an updated review of Landefeld, ... WMI owns 100% of the equity interest in WMIIC' ... and obviously now, WMIH-Corp, is the reorganized WMI ... or, ... do a search of Washington Mutual Preferred Funding, LLC. ... Read' the 196 page original offering' ... in my opinion ? that document is one of many. that is very' intriguing, ... then ? ... do what you' think is the best
my best encompassing suggestion to EVERYONE ? ... would be for everyone, to make sure that your "Target Accounts" are in proper order, and that your Individual "Profile" at you chosen "Broker" (s), ... is current and accurate' ... the DTCC, (DTC, Clearstream, and Euroclear) and the process forward IS' very important ...
AZ
~ The Reason ? Has Always Been The Same ~
The WaMu Truth (WMIIC / WMI / WMIH-Corp) to actually be revealed, ... so that another attempt at the confusion, happenings, "calculators" and misrepresentations, of the First Quarter of 2012' at WMI I's Plan 7 Approved Reorganization, as well as some 30% of the common shareholders - NOT' - being involved, ... Does NOT' Happen Again' ... Now That' WMI II (the WMB Action) has been Settled as well ...
I am preparing the linked presentation of the letters submitted to Judge Sleet' in January of 2012, submitted by bopfan / csny, ... a JPMC professionally' conflicted party and TPS motivated participant' ...
Letters that were submitted (Jan 2012) to Judge Sleet in D.C. after the Plan 7 mediated result, in an effort to have Judge Sleet intervene and shut down Judge Walrath's Approval of Plan 7' ...
The first attempt to disrupt the process, was in November of 2010' ... the second attempt to disrupt the process was in January of 2012 ...
~ Know What You Own ~ ... as well as ... ~ Who is Present, and, for What Purpose ? ~
AZ
~ Maybe ?' People Remember The WaMu Events Differently ~ On September 26, 2008, the Company issued a press release announcing that an “Exchange Event” had occurred under the applicable documents governing the preferred securities (the “Securities”) of Washington Mutual Preferred (Cayman) I Ltd., Washington Mutual Preferred Funding Trust I, Washington Mutual Preferred Funding Trust II, Washington Mutual Preferred Funding Trust III and Washington Mutual Preferred Funding Trust IV. In connection with the Exchange Event and in accordance with the terms of the documents governing the Securities, the Company effected an exchange (the “Conditional Exchange”), effective as of September 26, 2008 at 8:00 A.M. New York time, of the Securities into depositary shares representing a like amount of preferred stock in the Company.
However, ... opinions, misrepresentations, and obvious misunderstandings, ... DO NOT or WILL NOT, change the actual WMIIC / WMI / WMIH-Corp process moving forward ...
In My - Own - Opinion, This is the reason that an honest return and reference to the actual documents is always important' to ALL TRUE' Investors ...
JPMC' DID NOT receive ownership of the "Trust Preferred Securities" (Washington Mutual Preferred Funding, LLC.) ... statements being made to that effect are just silly' ...
Also, The TPS "Exchange Event" DID NOT / or COULD NOT' happen, until the OTS had actually taken action against WMB on 09/25/2008'... statements being made to the contrary are just silly'
And Also, The TPS "Exchange Event" transitioned these "Overfunded Supporting Trusts" to a WMI' Preferred Security, once the OTS had actually taken action against WMB on 09/25/2008'... statements being made to the contrary are just silly'
The fact that the TPS' were transitioned into a WMI' Preferred Security should also be obvious as they ALSO converted to a Class 19 Preferred Security, at the Approval of Plan 7' ...
(WMI = Washington Mutual, Inc. = the parent corporation)
https://www.sec.gov/Archives/edgar/data/933136/000089375008000495/form8k.htm
These particular, WMI' (Washington Mutual, Inc.) Preferred Trusts' have continued to operate, originally issued out of Delaware, ... and as stated' ... their return of principle and interest, legally placed on hold since Sept of 2008', should be quite a nice large sum of Cash' ... as their accumulated "Cash" returns will be returned to their rightful owners' ...
This is simply only ONE segment of the returns of the WMI' Estate, to be Returned TO THE - WMI' - ESTATE' ...
AZ
~ Yes, ... Note Four' IS Actually Correct' ~
Is Note Four' Correct ... ? ... Yes' ... Has Note Four' Been Misunderstood ... ? ... again, obviously yes by a few' ... or maybe just one ? ... it doesn't matter now' ... does it ... ? ...
The exchange event occurred as stated in Note Four ... the Capital Trusts as listed, converted to a WMI Preferred Security at 8:00am on 09/26/2008' ... Again, ... They converted to a WMI Preferred Security ... then, WMIIC and WMI filed for bankruptcy protection at 10:15pm and 10:16pm later that same day respectively (time stamped) ...
... JPMC only received the servicing rights associated with what WMI's Bank, WMB was servicing ...
AZ
~ Intuitive, Yep It Is ALL Good ~
The difficult part of this entire WaMu process, for an individual investor, ... has been the slow wheels of our legal system, and the time taken to accomplish these Settlements (WMI I, and WMI II "dual tracking") ... thankfully now as we watch the Settlement requirements being finalized ...
ABS-Certs (Performing Trusts) are not able to be owned, ... they' are only able to be participated in' ... they are all individual cash producing financial products / mechanisms, in and of themselves' ...
AZ
~ LP, ... Yes, I Do Believe That To Be The Case' ~
I believe that within our now completed, "Settled" process, there has always been a place for everything, and that everything has always had a place' ... after an in depth study of Zelin, Carreon, and Mastando, ... Plan 7' is not terribly different from Plan 6' ... "other than" ... Plan 6 had problems, and there was a need to rework the distribution matrix (Attachment H), to properly subordinate the WMB Bank Noteholders, beyond the WMI Creditors' ... (Bankruptcy Rule 510) ... and in accomplishing this, the need to then actually ... "end and complete" ... the WMI Reorganization with the Washington Mutual, Inc., Estate' itself' into a reorganized new company, and subsequently owned by its actual owners' ...
So In my own opinion and conclusions, Judge Walrath's Rulings and these issues have always made common sense to me' ... the WMI' Creditors (Tranche 1 - Tranche 4) were able to be paid with WMI's Cash On Hand' plus the interest provisions, ... The now properly subordinated WMB Bank Noteholders (Tranche 5' Class 17) ... would receive their eventual recovery, (Receivership Certificate's to be issued by the FDIC - per the FDIC's Claims Department submission to DLA Piper) from the exact same Performing Trusts' that the Original WMB Noteholder Program actually originated from and consisted of' ... and again,, ... the same process should be and ultimately would be applied to Tranche 6' Class 19, as the WMI Preferred Securities were connected to the WMI Capital Trusts, ... Washington Mutual Preferred Funding, LLC., ... which occurred when the TPS were ruled to have' experienced their "exchange event" (to convert to a WMI Preferred Security) ... and subsequently ... DID NOT' ... get have the ownership of these Trusts' transferred to JPMC' ...
JPMC, ... was only ever ALLOWED', to ever perform ONLY' the servicing duties on behalf of these financially powerful TRUSTS' ... JPMC was to service these loans, for and to the eventual financial benefit of the Trusts themselves, and for the actual and the eventual releasing owners of the Washington Mutual Inc., Estate' (to be distributed upon the completion of these necessary litigated Settlements') ...
AZ
~ SometimesRight and ALL', ... ADDED As We' Move Forward ~ In February 2006, a subsidiary of WMB, University Street, Inc. (“University”) created a new subsidiary called Washington Mutual Preferred Funding LLC (“WMPF”). University and WMB then transferred to WMPF portfolios of home equity and other mortgage loans in exchange for all the WMPF common stock and WMPF preferred securities, respectively. WMPF then transferred the loan assets to statutory trusts in exchange for certificates entitling it to payments of principal and interest on the loans. The WMPF preferred securities paid dividends based on distributions from the trusts. In five similarly-structured issuances between March 2006 and October 2007, the trusts issued approximately $4 billion in Trust Preferred Securities (the “TPS”) which were sold to qualified institutional buyers pursuant to private placements.
As I presented the Washington Mutual Preferred Funding, LLC., "Capital Trusts" original description, these are five (5)' segregated cash producing "Trusts", ... that have had their described "Cash" dividend returns placed on "Hold" since the morning of 09/26/2008' ... while the parent corp's (WMI) litigation was able to be finalized and thankfully' all of these years later, now completed' ... and the reorganized new company, WMIH-Corp is now in a position to move forward without the restraints of the litigation, Now, again thankfully "Settled"
This descriptive of what these Trusts were (are'), is important' ...
and then again,
today ? ... none of this matters any longer, "things are as they are" ... WMI's Plan 7 reorganization, required the individual releases to be submitted for one to be in a position to participate' (41.6) ... while the ongoing "dual tracking litigation" in Judge Collyer's Court, (WMI II the WMB Action') needed to also be settled and its releases finalized, as well ...
The (5) "Capital Trusts" Washington Mutual Preferred Funding, LLC., being ruled to have gone through their exchange event in the morning of Sept 26th, 2008, ... and then WMIIC and WMI, filing for BK protection at 10:15pm and 10:16pm on the same day respectively, ... irritated BOTH' ... JPM and the TPS, (most of whom had bought in "after" the seizure by the OTS on the 25th') ...
~ SometimesRight, Yep the TPS Issue Was Quite Interesting ~
This subject matter is directly and financially related to the WMI reorganized new company WMIH-Corp moving forward, as well as the releasing owners of the original WMI Estate' ...
Not to mention their own attempt to disrupt the eventual completion of the approved Plan 7, with their "insert" placed within the voting packages, ... but also to the January 2012' submissions by the net's own, b-pfan', letters written to Judge Sleet in D.C. requesting he intervene and override Judge Walrath's decision to ultimately approve Plan 7's completed mediated result (December 2011) ...
however, to answer your question ? ... Yes' ... the "exchange event" was ruled to have occurred and the Capital Trust Preferreds became Washington Mutual, Inc. (WMI) ... "Preferred Series" ... ultimately, WMI Tranche 6, Class 19' securities' ...
today ? ... none of this matters any longer, "things are as they are" ... WMI's Plan 7 reorganization, required the individual releases to be submitted for one to be in a position to participate' (41.6) ... while the ongoing "dual tracking litigation" in Judge Collyer's Court, (WMI II the WMB Action') needed to also be settled and its releases finalized, as well ...
The (5) "Capital Trusts" Washington Mutual Preferred Funding, LLC., being ruled to have gone through their exchange event in the morning of Sept 26th, 2008, ... and then WMIIC and WMI, filing for BK protection at 10:15pm and 10:16pm on the same day respectively, ... irritated BOTH' ... JPM and the TPS, (most of whom had bought in "after" the seizure by the OTS on the 25th') ...
Again, ... Today ? ... none of this matters any more' ... everyone made their own choices at the time' ... however, just because a "snake" knows how to type well ? ... doesn't change the fact that it is still a "snake" ... I told the Truth back on Dec 11th, 2016, and I'm glad that bp' banned me' ...
AZ
~ It Is Point # 1, It is Obviously an Agenda ~
Here Is Why' ...
Washington Mutual, Inc. (“WMI”) was a savings and loan holding company, which held inter alia, all of the stock of Washington Mutual Bank (“WMB”). In February 2006, a subsidiary of WMB, University Street, Inc. (“University”) created a new subsidiary called Washington Mutual Preferred Funding LLC (“WMPF”). University and WMB then transferred to WMPF portfolios of home equity and other mortgage loans in exchange for all the WMPF common stock and WMPF preferred securities, respectively. WMPF then transferred the loan assets to statutory trusts in exchange for certificates entitling it to payments of principal and interest on the loans. The WMPF preferred securities paid dividends based on distributions from the trusts. In five similarly-structured issuances between March 2006 and October 2007, the trusts issued approximately $4 billion in Trust Preferred Securities (the “TPS”) which were sold to qualified institutional buyers pursuant to private placements. Each series of TPS was evidenced by a global certificate registered in the name of and held by a custodian of the Depository Trust Company.
Each series of TPS had a feature that provided that if the Office of Thrift Supervision (the “OTS”) determined that WMB had become undercapitalized or would become undercapitalized in the near term or that WMB had been placed in a receivership or conservatorship (defined as an “Exchange Event”), then the OTS could direct that the TPS be transferred to WMI in exchange for new Depositary Shares (the “Conditional Exchange”). (McIntosh Decl. at Exs. 3A & 4A.) The Depositary Shares were to be issued to WMI in exchange for WMI Preferred Shares. (Id.) In order to obtain the agreement of the OTS to the issuance of the TPS and their treatment as core capital for WMB, WMI agreed that if it acquired the TPS as a result of a Conditional Exchange, then WMI would contribute the TPS to WMB. (Id. at Exs. 5C, 5E, 5G, 5H.)
On September 7, 2008, as its financial condition worsened, WMB entered into a memorandum of understanding with the OTS (the “MOU”) pursuant to which the OTS explicitly limited WMB’s ability to declare a dividend. (Id. at 7A, §2(B).) On September 25, 2008, the OTS concluded that based on the MOU’s limitations on WMB’s ability to pay dividends, an Exchange Event had occurred and directed the Conditional Exchange of the TPS. (Id. at Ex. 6A.) WMI responded to that directive on September 25, 2008, advising that it would issue a press release on September 26, 2008, announcing that the Conditional Exchange would occur as of 8:00 a.m. Eastern time on that date. (Id. at Ex. 6B.) WMI also executed an assignment to WMB of all of WMI’s entitlements to the TPS. (Id. at Ex. 7B.)
On that same day, September 25, 2008, the OTS seized WMB and appointed the Federal Deposit Insurance Corporation (the “FDIC”) as receiver. Immediately after its appointment as receiver, the FDIC sold substantially all of the assets of WMB to JPMorgan Chase Bank, N.A. (“JPMC”) for approximately $1.9 billion and assumption of certain of WMB’s liabilities. (Id. at Exs. 7C & 7D.)
At 7:45 a.m. Eastern time on September 26, 2008, WMI issued a press release announcing, inter alia, that an Exchange Event had occurred and that consequently the Conditional Exchange would occur at 8:00 a.m. Eastern time on that date resulting in the automatic exchange of the TPS for Depositary Shares tied to WMI Preferred Shares. (Id. at Ex. 6C.)
Later that same day, September 26, 2008, WMI filed a petition for relief under chapter 11 of the Bankruptcy Code. During the course of the bankruptcy case, disputes arose between WMI and JPMC regarding the ownership of certain assets, including the TPS. Ultimately a Global Settlement was reached between them (and the FDIC and other parties) which has been incorporated into the Debtors’ Sixth Amended Joint Plan of Reorganization (the “Plan”).
After the announcement of the Global Settlement, the Plaintiffs filed a complaint against WMI and JPMC seeking, inter 2 alia, a declaration that the TPS were still owned by the investors and did not belong to WMI or JPMC. On September 7, 2010, the Court stayed litigation of certain of the counts of the Complaint and permitted the parties to conduct discovery and file dispositive motions with respect to Counts I through VI. The parties agreed that those counts had to be determined (by dispositive motions or trial) before the Debtors could proceed with confirmation of the Plan. The parties filed cross motions for summary judgment which were fully briefed by November 24, 2010. The matter is ripe for decision.
~ Actually, Ones Poor attempt at flawed and incomplete DD' Doesn't Matter At All, Not At This Point in Time' ~
Hanging their financial hat on simply being upset with MW' will and already has, proven to be quite costly' ... for anyone to have not released as instructed to do ... ? ... because of being upset with one person ... ? ... well' whatever' ... Right ?
* WMI's Capital Structure was revealed in its own SEC Filings, ... Not to mention the continuing SIC Codes' carried forward to the reorganized new company' ...
* WMI Investment Corp., and its original purpose ? ... is the real deal' ...
* The WMI - (originally, overfunded) ... Washington Mutual Preferred Funding, LLC., yep, it is the real deal' ...
* The WMB Noteholder Program ... well one would have to be wearing blinders, to not acknowledge the "Steering Committee" ... Right ... ? ...
* The dual tracking litigation in Judge Collyer's Court, WMI II (the WMB Action), yep, again really happened, is able to be studied, and is the real deal' ... and obviosly is just now completing its agreed upon Settlement' requirements ...
* ABS-Certs (Trusts) ... yep, obviously the real deal, and what DB referred to ? wasn't the entire pool' ...
All things considered, ... This WaMu deal should work out quite well, ... my opinions are backed up with my own cash', study and research' ... Class 17's, (which haven't released yet) ... Class 19's, Class 22's, ... and a load of newco' WMIH-Corp, shares, ... just added some more today @ $1.10 ...
I wouldn't invest to the level that I have, because of what or how many institutions are currently involved, or what is presented by a skilled typist, ... I'm here posting and involved because of the Plan 7 Result, ... the completion of the actual dual tracking process ? ... and the study of the 120 accredited WMB Noteholders' ...
* In the effort to also help out some of those folks that were not given the truth, ... back during the first quarter of 2012' ...
AZ
~ ItsMyOption, I Think We Are Saying The Same Thing' ~
I am just curious to see just exactly HOW' ... the FDIC-C actually pulls this off' ... after all, in my opinion, the FDIC has to First' accommodate the original GSA' ... first settled between WMI (the Parent) and the FDIC, ... and then, as listed after the comma, JPMC ... (as a third party participant, imo') ...
I just figure that the FDIC' ... needs to begin to authorize the movement of some of the money, in order to accomplish the numerous moving parts that are needed' ...
Not to mention the WMB Bank Noteholders, that ... "will have deemed to have released upon receipt of the distribution" ... (as stated, "receivership certificates" to be issued) ...
AZ
~ In My Opinion ?, Moving Forward ~
As everyone knows, ... After following the open court proceedings in Judge Walrath's Court, as well as Judge Collyer and the "dual tracking litigation" ... I have also done my best to keep the issues and participants separated ... In saying that, I've always considered JPMC as a "Third Party" ... (listed after the comma in the GSA) ... seriously, why would ? or why should ?, I care who or what entity the OTS / FDIC chose to get involved with ? ... after all, I am a WaMu Investor' ... so, to remain focused' ... I am only concerned with WMI' (WaMu) ... as well as the process which was initiated by the OTS ... and the subsequent need for the TWO Bankruptcy's Filed ...
So, as recently presented to the group, ... Washington Mutual, Inc. ... was not actually a "Bank Holding Company" this is portrayed in their own presented SEC Filings, as well as their SEC, designated SIC Code, ... which now carries forward to the reorganized WMI, ... our own new company, WMIH-Corp' ...
So, as the days move forward, after studying the TWO' now settled results, ... (WMI I' as the Plan 7 Approved Reorganization, as well as WMI II the WMB Action, now Settled) ... I'm curious just how the P&AA will actually be completed, ... after all, the FDIC quickly sold' what the OTS couldn't actually give ... and how will JPMC get a $645 million dollar Administrative Expense paid to it, for the purchase of what the FDIC didn't have full legal authority to sell' ... very interesting stuff' ... to say the least ... in my opinion' ...
Somehow, ... the "Steering Committee" (which included the WMB Bank Noteholders) ... figured this necessary second of two Settlements needed out and announced the WMI II (the WMB Action) Settled Result last August, 2016' ...
I guess, I'm just curios as to just when and how the CIC' (Change In Control) completion is finalized' ... because I don't see how the Federal Deposit Insurance Corporation (FDIC-C) ... can be reporting this on their own balance sheet, nor JPMC accounting for receipt of this money ($645 million), in their own filings, unless the CIC (Change in Control) issue is completed as well, or is planned to very s@@n be' ...
AZ
~ Thanks Guys, We'll See How Long I Last This Time ~
WMIH-Corp, will s@@n' be free to move forward without any of the pasts' legal restrictions, that have plagued this new company since its reorganized creation ... (03/19/2012) ...
A whole lot of WaMu's complete "dual tracking" legal process, was never expected to be openly and publically discussed to these levels ... nor, ... were we' ever expected to be included, let alone still being here holding on and kicking' as hard as we all' are ... just make sure, all of your accounts are all in proper order' ...
AZ
~ Fine', It Doesn't Matter - Here, I'll Use The 12/31/2007 10-K, or the 06/30/2008 10-Q Then ~
I see that presenting mere misunderstood snippets from a document, continues to be presented in an attempt to confuse who ... ? ... That ? doesn't work on me, and I seriously doubt works on anyone relevant any longer' ... however, ... here, I'll use either the WMI 12/31/2007 10-K ? or, the WMI 06/30/2008 10-Q' ... It truly doesn't matter, Both of these WMI SEC submitted documents, state the very same thing regarding Washington Mutual, Inc. ... and, ... its Capital Structure' ...
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2008
https://www.sec.gov/Archives/edgar/data/933136/000104746908009146/a2187197z10-q.htm
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007
https://www.sec.gov/Archives/edgar/data/933136/000104746908006870/a2185889z10-ka.htm
"The Parent is not required by the OTS to report its capital ratios, and as the Parent is not a bank holding company it is not required by the Federal Reserve Board to report its capital ratios. Nevertheless, capital ratios are integral to the Company's capital management process and the provision of such metrics facilitates peer comparisons with Federal Reserve Board-regulated bank holding companies. The ratio for the Company's tangible equity to total tangible assets, along with the estimated ratios for Tier 1 capital to average total assets and total risk-based capital to total risk-weighted assets which exceed minimum regulatory guidelines, are presented below."
"Effective October 17, 2007, Washington Mutual Bank consented to the issuance by the Office of Thrift Supervision ("OTS") of a cease and desist order requiring Washington Mutual Bank to comply with the Bank Secrecy Act ("BSA") and related BSA regulations and regulations governing suspicious activity reporting. Although no fines or restrictions on Washington Mutual Bank's activities have been imposed by the OTS, failure by the Company to comply with the terms of this order or other applicable laws and regulations could have a material adverse effect on the Company's business, financial condition or operating results through the imposition of additional sanctions."
"Like all depository institutions with federal thrift charters, our subsidiary depository institutions continue to be subject to examination by their primary regulator, the OTS. The OTS examinations occur throughout the year and target various activities of our subsidiary depository institutions."
~ LG' ... Yes a WMIH-Corp Move Forward, Should Be The Notice of a Completed Result ~
I've spent a great deal of time on the study of the April 2016' release of the "Globic" document submitted to the Court, ... and although I stand firm on my own personal opinions regarding the timing extensions and the distractions that we have ALL endured, ... (as Judge Collyer would NOT allow Deutsche Bank to be an Intervenor), ... I do understand the need for this widely encompassing ... "Settlement" ... which, actually sets to rest, many more additional issues beyond more than WaMu ... (a precedent needed to be established) ...
AZ
~ GG4' ... Thanks, But I'm Doing Okay, If You Guys Are As Well ~
You guys are the true reason that I began presenting in the first place, back in later 2012' ... "Other Than", ... my own either, being able to ? ... or being allowed to ? ... join into these conversations, as one has moved forward ... hhmmmm ... Right ? ...
Anyway, everyone just make sure that all of your Broker contact information is accurate (Profile), and, that your target accounts are All, in proper order ... all accounts should be positioned to be able to receive either Cash, or Shares ... as your Tracking Markers are the counting mechanism to be utilized to calculate ones amount of distribution participation, ...
AZ
~ AT, Thanks, Let's See If It Lasts ? AZ ~
~ ItsMyOption, ... Yes You Are 100% Correct ~
I'm still having difficulty, ... however, the Links to the SEC filings for WMI, as of 06/30/008' and the same for WMIH-Corp, as of 06/30/2017' ... reveal a consistency relevant to the Capital Structure, applied to WMI, both past and present tense ... This is very important, for everyone to understand as we are now in a position to move forward, due the completion of ... Both, ... Both, of the necessary Settled Results, ... Plan 7's accommodation in March 2012', addressing the class designations, and now the completed WMB Action, ...
AZ
~ WMIH-Corp IS' The Reorganized Washington Mutual, Inc. ~ "The Parent is not required by the OTS to report its capital ratios, and the Parent is not a bank holding company subject to capital adequacy requirements administered by the Federal Reserve Board"
Following the SEC Reported "Capital Structure" of both', the original Parent Corp (Washington Mutual, Inc.), through to the Reorganized new company' (WMIH-Corp) as a result of Plan 7's approval, ... our future is very, very, bright' ... (as, everyone waits together) ... and, there are many that are able to truly sequence and follow the documented process' ... (Yes' my LI was just restored, we will see how long this lasts') ...
Regarding WMI's Capital Structure, ... WaMu, wasn't able to be issued TARP Funding, nor was WaMu, able to be placed on the No Short List, ... "due to the fact that" ... Washington Mutual, Inc. ... WAS NOT A "Bank Holding Company" ... WMI was a "Holding Company" that happened to be allowed to OWN Two' Banks' ... this distinction is very, very, important' ...
The following is direct from the 06/30/2008' 10-Q, WMI SEC Reporting Structure just prior to the seizure of WMB and WMBfsb, by the OTS' ... and then as reported in the April, 2016 "Globic" Settlement Document, upon the action by the OTS taken, ... WaMu, was "secured within the FDIC" ...
Now, follow through to the recent "Q" released by WMIH-Corp for period ending 06/30/2017' and a quick review of "Capital Structure" reveals the same' ... WMIH-Corp, ... is a "Holding Company" as the reorganized WMI'
What was needed, was the "Settled Results" that we' have all now experienced in the multiple WaMu Litigation's ...
AZ
~ Willie, For Now ? Let's Keep That Quiet ~
This ? Was a private letter, ... originally written by a very powerful hedge fund' ... for now ?, that will have to suffice, ...
AZ
~ WaMu Then' ... to WMIH-Corp, and WMI / WMIIC's Owners, As We Are Now ~
I have kept the following letter close, quiet, never before presented, and since the very beginning days' ... The following, was a large part of the basis and the beginning of all of the study, research, and due diligence for me' ... this letter motivated me to the result ...
going back to a pre-seizure study, then to the study during the Two' Bankruptcies, ... through the D.C. Litigation, ... to now the present, ... now that we have witnessed Both' WMI I, and WMI II achieve a ... Settled Result ...
To those that have stayed true and truthful, please enjoy the following, as I have my friends, ...
In the ten days leading up to the largest bank failure in U.S. history, in the midst of a plunging stock price and negative headlines, Washington Mutual experienced a fatal “run on the bank” as paranoid customers withdrew more than $16 billion of deposits. On September 25, 2008, the regulators seized WaMu Bank, the primary operating subsidiary of the holding company, and on the same day, in an FDIC-brokered transaction, JPM purchased the assets and assumed all of the deposits of the bank in exchange for a $1.9 billion cash payment. Left behind were $13 billion of bonds at the bank subsidiary and $7 billion of bonds at the holding company, all trading at extremely distressed levels. Also left behind were all of the assets of the holding company, which were lying outside the jurisdiction of the FDIC. The crown jewel was roughly $4 billion of cash at the holding company that was held on deposit at WaMu Bank (and its subsidiary) prior to its failure. This was subsequently assumed by JPM as part of its deal with the FDIC to assume all deposit liabilities. Because WaMu’s consolidated financial statements eliminate this intercompany balance, many investors did not initially realize that this value existed. And even those that did, worried that the Bank or JPM might find a way to latch onto the cash. Other non-cash sources of value include a sizeable tax refund from the IRS, a liquid securities portfolio, several wholly-owned subsidiaries which generate positive net income, and potential proceeds from a number of material lawsuits with third parties.
By locating and studying numerous documents, such as public financials, bankruptcy documents, regulatory filings, monthly operating reports, state filings for the insurance subsidiaries, litigation pleadings, etc., we were able to identify these sources of value and take advantage of unprecedented fear and dislocation in the markets to build a position in holding company senior and subordinated bonds at attractive prices. At the beginning of the case, we took severe haircuts on possible valuation because of the tremendous lack of disclosure. But since that time, with each additional public disclosure, our understanding of each piece of value has become more thorough and granular, and the range of possible outcomes has continued to tighten to the upside. Although the absolute upside is less than it was a few months ago since bond prices are now higher, the primary risks to value erosion have also lessened materially in our minds, and we continue to believe that the overall risk-return is extremely good. As a bonus, in today’s investing environment where predicting a company’s “normalized” earnings and cash flows can often times feel like an exercise in futility, we very much like investments like this one which are market agnostic and have multiple analyzable aspects for us to dig our teeth into. It is worth noting that this investment process has been a team effort from the start, with numerous analysts and portfolio managers pitching in to help understand the various aspects of this case, from the bankruptcy process, to tax implications, to valuation of certain non-bank assets, etc. It is because of this, we believe, that we have largely been able to tune out the “consensus view” of this credit, appreciate it on a bottom-up basis as a unique, high-conviction investment opportunity, and size it accordingly.
~ Yes' ... I Have Actually Uncovered Documented Proof' ~
I have catalogued specific information regarding Specified Trusts' ... that, ... Are and have been, "Operating As Subsidiaries of WMI Holdings Corp" ... "Operating As" ... NOT' ... "Owned By" ... however, the control of these Trusts' as well as their monthly cash generated returns are a positive to BOTH' ... WMIH-Corp and the Owners of the Original Estate' ...
Originally issued pre seizure, out of the State of Delaware' ... and have continued operations' ... Now, as we have witnessed, ... one of the requirements of the KKR Offering in Jan 2015' ? ... was for WMIH-Corp to relocate to Delaware' ...
AZ
~ Mordi' ... I'm Good Either Way' ~
In my opinion ?, a few more days isn't worth the energy for an argument' ... we have both been here for a very long time' ...
I've actually had quite enough of both, the net, and' WaMu' ... It is time for the payment reward of the WaMu Due Diligence to begin' on this hedge fund investment' and to begin payment, ... Class 17 is up next', ... we blow through Class 18, and the rest will be history' as we move into Tranche 6' ... Class 19 and Class 22
I've only tried to help the folks, ... so that there won't be any more 1st quarter of 2012 nonsense, ... which ? in my opinion, ... the confusion was promoted by ..., well, you know who I'm talking about
WMIH-Corp is now in a position to' and can now - truly - move forward' ...
AZ
~ Now Is The Time To Be Diligent To The WaMu Process ~
Now, ... ? ... now that the WMI II ("the WMB Action") "Settlement" Has Been Completed, ...
financially regarding any meaningful distributions of the LT's leftovers ... ? ...
the WMI-LT doesn't really matter, to the Actual Owners' of the WMI / WMIIC Original Estate ... the WMI-LT is the Pass-Through Mechanism' ... (the DTC, Clearstream, Euroclear, etc and YOUR' Registered Broker are important to a releasing (41.6) participant)
From The Plan of Reorganization;
32.2 Intercompany Claims: Intercompany Claims shall be extinguished, unless otherwise agreed or resolved between the parties to a given Intercompany Claim, resolved by the Global Settlement Agreement or released by operation of the Plan. Any such transaction may be effected without any further action by the stockholders of any of the Debtors or the Debtors in Possession.
From The Liquidating Trust;
(d)Right to Recovery. WMB Senior Notes Claims and WMB Subordinated Notes Claims are not superior in right of recovery to Allowed Senior Notes Claims, Allowed Senior Subordinated Notes Claims, Allowed CCB-1 Guarantees Claims, Allowed CCB-2 Guarantees Claims, Allowed PIERS Claims, Allowed General Unsecured Claims, or Allowed Late Filed Claims, and the holders of WMB Senior Notes Claims and WMB Subordinated Notes Claims may not seek recourse, payment, turnover, indemnity, damages, setoff, pay-over, or other compensation from holders of any Allowed Claims, including, without limitation, Senior Notes Claims, Senior Subordinated Notes Claims, CCB-1 Guarantees Claims, CCB-2 Guarantees Claims, PIERS Claims, General Unsecured Claims, or Late-Filed Claims, on account of WMB-issued obligations.
The purpose of section 510(b) is to prevent the bootstrapping of equity interests into claims that are on a par with other creditor claims, consistent with the Bankruptcy Code's "absolute priority" rule. According to this rule, unless creditors are paid in full or agree otherwise, shareholders cannot receive any distribution from a bankruptcy estate.
==================================================
~ Know What You Own ~ ... and No' ... ~ I Will Never Be Issued An LTI (an actual "Interest" in the WMI-LT) ~
AZ
~ The Process Forward As I See Things 07/09/2017 ~
... There are those few' that, for whatever reason, just disregarded, and did not understand the ongoing "dual tracking" litigation and the importance of the legal process continuing in Judge Collyer's Court in D.C., ... which obviously wasn't quite over yet, back on March 19th, 2012, at the WMI / WMIIC Approved Plan 7 Reorganization' Implementation Date' ...
However, ... Now ? ... Thankfully', That Additional' Litigation Time Needed, Has Passed' for us all' and the "Settlement" between "the Parties" has been completed' ...
Now' that we' have been able to review, the documents as submitted' ... it is time to look forward and acknowledge what the "Court Approval" means' ... (Judge Collyer wrote her opinion on June 17th, 2015 ... She' allowed for "The Stay" on the process, ... She' did not make a defining ruling,) ...
=======================================================
Turning the Page', to what is truly important to those of us that released (41.6) to obtain our Plan 7 WMI / WMIIC Reorganization, Class Participation designated WMI / WMIIC "estate ownership" tracking markers' ...
the, 08/19/2016, "The Settlement"
https://www.fdic.gov/bank/individual/failed/wamu_dbntc_jpmc_fdic_settlement.pdf
1.03. "Final Allocation Approval"
means a final and non-appealable judgment (including the expiration of any time to apply for discretionary review) entered by the Approval Court (as defmed herein) approving the Trustee's proposed allocation among the Trusts (and if sought by the Trustee, of the Trustee's or any other calculation agent's proposed allocation among classes of securities related to any Trust) of amounts to be received by the Trustee pursuant to this Settlement, or such other allocation as the Approval Court may determine to be appropriate.
1.04. "Final Court Approval"
means a final and non-appealable judgment (including the expiration of any time to apply for discretionary review) entered by the Approval Court (as defined herein)
(i) determining that the Trustee acted reasonably and in good faith within the bounds of its discretion in entering into the Settlement,
(ii) finding that Investors received legally sufficient notice of the Approval Proceeding (as defmed below) and an opportunity to object,
(iii) barring any Investors from asserting claims against the Trustee based upon its prosecution of the Action and entry into the Settlement, and (iv) declaring that the Settlement Agreement and the Trustee-JPMorgan Agreement is binding on the Trusts; provided, however, that the Trustee may in its discretion waive or agree to variances in sub-palis (i) and (iii).
2.01. Effective Date.
Article III of this Settlement Agreement (other than Section 3.10) will be effective upon and only upon Final Court Approval having been secured prior to termination of this Settlement Agreement as provided for in Section 2.03.
2.02. Trustee Judicial Approval Proceeding.
(a) The Trustee undertakes to use its reasonable best efforts to seek Final Court Approval promptly through a judicial instruction proceeding ("Judicial Approval Proceeding") in California Superior Court, Orange County (the "Approval Court'}
APPROVAL ORDER GRANTING VERIFIED PETITION OF DEUTSCHE BANK NATIONAL TRUST COMPANY AS TRUSTEE FOR THEIR TRUSTS LISTED AS EXHIBITS 1-A AND 1-B, FOR INSTRUCTIONS REGARDING THE INTERNAL AFFAIRS OF THE TRUSTS
Hearing Date: June 16, 2017
Hearing Time: 9:00 a.m.
Department: CX102
http://www.globic.com/wamurmbssettlement/pdfs/Wamu%2016-00892014%20Approval%20Order.pdf
Signed: June 30,2017
=======================================================
So, it appears to me that, ... as listed' ...
The Approval Court, ... Is' ... The California Superior Court (Judge Claster Presiding)
and the "time to apply for discretionary review", ... ended on June 30, 2017 with his signature in Approval' ...
And Again, ... Back to the importance of this July 5th, 2017 Document' ... as this Threads, beginning discussion topic'
... This Is Important, ... 07/05/2017'
http://www.globic.com/wamurmbssettlement/pdfs/WaMu%20Notice%20to%20Holders_7.5.2017.pdf
AZ
~ Well ? There Are Those Here, That Obviously' ~
There are those that simply, ... Did Not' ... understand that when Judge Walrath, B Rosen, and Equity's Representation, ... ALL' ... said to Class Release (41.6) in order to participate in the Plan 7 Reorganization of WMI / WMIIC' ... that maybe ? just maybe they should have listened ... ? ...
I guess those same few' ... just simply did not' understand or realize, that the "dual tracking" litigation, WMI II (the WMB Action) still ongoing in Judge Collyer's Court in D.C. was a bit of a ways away from being completed back in early 2012' ... ? ...
How was all of that missed by these few ... ? ...
Simply Put ... ? ... what they' did ? or did not do, ... truly doesn't matter ...
WMI I, went to a Settled Reorganization ...
WMI II, has also now had its own Settlement and agreed upon requirements completed ...
Yes my friends, ... The Trusts have continued to perform ... ALL of Them' ...
AZ