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IMHO, there is ongoing dispute with claims of some WMB note holders which were subordinated to class 18, some hedge funds bought these claims for pennies on the dollar after filing, Litigation Committee was to pursue some of these claims as well.
Not true BK
"hundreds of billions are already 'theirs"
They had more than a billion or 2 in claims which were bought on pennys on the dollar.And they involved heavily in insider stuff.Begged court to remove what the court quoted in the opinion.
Continue holding it because they had to wait for their investments just like other shareholders though they were top in the priority.Hence, holding WMIH forever.
You may be right.
Escrows are like house address.The actual house will have a value, not the address.If there is any value to be distributed to former equity based on the releases as in plan, will be distributed in the form of Liquidating Trust Interests(just like PIERS)+ cash(if there is) based on the address ie Escrow markers.
Same thing with Lehman.
If they short, will they make money?.If they can, then they will make sure they get the opportunity to do it, imho.
Trial Profile
Phase III study of Eltoprazine in adult patients with Attention-deficit hyperactivity disorder
Recruiting
Phase of Trial: Phase III
They can reopen 'Project West' and FDIC bidding process of WAMU and what happened between March 2008 thru Sept 2008 about WAMU and FDIC meetings in between and JPM BOD meeting along with BOD of WMI after appointing Fishman.
And also BK lawyers of WMI and WMILT team.That is nothing to do with WMIH anyway.
Its waiting anyway.S why not wait for the justice to be served?.They are asking to reopen the case.They atleast succeeded in bringing up the true colors.Lying under oath is under process i believe.
Good to contact about WAMU and WMILT fiasco with Mr.Trey Gowdy,Mr.Jason Chaffetz,Mr.Jim Jordan and Mr.Rat Cliff.
The pandora box might get opened.
We got converted shares at the same value what wamuq was trading, no clue of how much cash is left with WMIH(significant cash, not how much) and certain assets(not clear on what assets).
LT does not say any thing about the value it has retained for shareholders except that in case if claims are paid in full(as allowed) LTIs would be distributed to class 19,21,22.Just playing with the shareholders since 2008.
Time to get in touch with these young congress men.
I guess you are right.I compared it with the last distribution matrix.It appears the same.
Why not?.The document say yes imho.
"Attached hereto as Exhibit B is a summary of the aggregate amount that will be
distributed to holders of Allowed non-priority unsecured Claims on the Eleventh Distribution
Date."
The aggregate amount that will be distributed on the Eleventh Distribution Date
will total approximately $3.8 billion and will include approximately (i) $3.7 billion of
Distributions identified in Exhibit B,
Allowed Claims Eligible for Eleventh Distribution (October 6, 2016)
$ in millions
D11 Activity Bridge
Notice Regarding Eleventh Distribution Pursuant to the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and its Affiliated Debtors (Docket No. 53706)
http://dm.epiq11.com//LBH/Document/GetDocument/2838477
Page 12/12
10A Subordinated Class 10A Claims 3,399.1 - - 3,399.1
10B Subordinated Class 10B Claims 10,330.4 - - 10,330.4
10C Subordinated Class 10C Claims 1,492.9 - - 1,492.9
Total $ 227,598.6 $ 281.3 $ (44.9) $ 227,835.1 (4)
Are we getting paid for LEHNQ...etc in class 10?
In Supreme court Sequenom, Inc. v. Ariosa Diagnostics, Inc.
http://www.scotusblog.com/case-files/cases/sequenom-inc-v-ariosa-diagnostics-inc/
"STATEMENT OF INTEREST OF AMICI CURIAE1
Amicus Curiae Amarantus Bioscience Holdings,
Inc. (“Amarantus”) is a small entrepreneurial biotechnology
company focused on commercializing new
diagnostics and therapeutics. Through its diagnostics
division, Amarantus is developing the LymPro Test®,
which is a blood-based assay to diagnose Alzheimer’s
disease, and MSPrecise®, which is a proprietary,
next-generation DNA-sequencing assay for identification
of patients with relapsing-remitting multiple
sclerosis.
Amarantus is also developing: a drug (Eltoprazine)
to treat quality-of-life degrading symptoms
associated with Parkinson’s disease; an engineered
skin to replace skin lost by burn victims who are
burned on at least fifty percent of the surface area of
their bodies; and a peptide therapeutic, MANF,
currently indicated for the treatment of Retinitis
Pigmentosa."
Former equity might get contingent rights
For federal income tax purposes, this generally is treated no
differently than if the plan distributed the assets directly to the creditors, and such assets were
subsequently sold by the creditors themselves. (See Section VIII.C hereof.) Significantly, the tax
treatment to each creditor with respect to the receipt of a Liquidating Trust Interest depends on the value
of the Liquidating Trust Interest received and on the Creditor’s or equityholder’s individual
circumstances. For example, the holders of Common Equity Interests, and the holders of Dime Warrants
(if they are determined to hold Equity Interests that are pari passu with the Common Equity Interests,
rather than Claims), would be considered to receive a contingent right to distributions of Liquidating
Trust Interests, which right is (presumably) of little or no current fair market value and, thus, would have
no real risk of taxable income regardless of their individual circumstances.
FDIC-R released, FDIC-C is not
The Seventh Amended Plan’s definition of “Released Claim” includes, among other things, claims or causes of
action that arise in, relate to or have been or could have been asserted (i) in the Chapter 11 Cases, the Receivership
or the Related Actions, or (ii) by holders of Equity Interests relating to Equity Interests they have against the
Debtors, and (iii) claims that otherwise arise from or relate to the Receivership, the Purchase and Assumption
Agreement, the 363 Sale and Settlement, as defined in the Global Settlement Agreement, the Plan, the Global
Settlement Agreement, and the negotiations and compromises set forth in the Global Settlement Agreement and the
Plan, including, without limitation, in connection with or related to any of the Debtors, the Affiliated Banks (as
defined in the Seventh Amended Plan), and their respective subsidiaries, assets, liabilities, operations, property or
estates, the assets to be received by JPMC pursuant to the Global Settlement Agreement, the Debtors’ Claims, the
JPMC Claims, the FDIC Claim, the WMI/WMB Intercompany Claims, any intercompany claims on the books of
WMI or WMB related to the WaMu Pension Plan or the Lakeview Plan, or the Trust Preferred Securities (including,
without limitation, the creation of the Trust Preferred Securities, the financing associated therewith, the requested
assignment of the Trust Preferred Securities by the Office of Thrift Supervision and the transfer and the asserted
assignment of the Trust Preferred Securities subsequent thereto); provided, however, that “Released Claims” does
not include (1) any and all claims that the JPMC Entities, the Receivership, the FDIC Receiver and the FDIC
Corporate are entitled to assert against each other or any other defenses thereto pursuant to the Purchase and
Assumption Agreement, which claims and defenses shall continue to be governed by the Purchase and Assumption
Agreement, (2) any and all claims held by Entities against WMB, the Receivership and the FDIC Receiver solely
with respect to the Receivership, and (3) subject to the exculpation provisions set forth in the Plan, any avoidance
action or claim objection regarding an Excluded Party (as defined in the Seventh Amended Plan ) or the WMI
Entities (as defined in the Seventh Amended Plan), WMB, each of the Debtors’ estates, the Reorganized Debtors
and their respective Related Persons; and, provided, further, that “Released Claims” is not intended to release, nor
shall it have the effect of releasing, any party from the performance of its obligations in accordance with the order
confirming the Seventh Amended Plan or the Seventh Amended Plan.
On May 11, 2015, WMIH merged with its parent corporation, WMI Holdings Corp. (“WMIHC”), a Washington corporation
Now ask yourself, was WMIH a sub of WMI Holdings Corp before the merger?. No.It was WMIIC WMI Holdings Corp was merged into and WMIH was the surviving corporation.
WMIIC was used to reorganize to Delaware from Washington.WMIH was merged out into WMIIC in 2015 and WMIH was the surviving corporation.I think it was a 'F' reorganization.
As per SEC filings by WMI or WMIH, WMIIC assets were sold to JPM or distributed to WMILT.
Is this the off-sheet balance 127Billion ?
Where did FDIC got 127Billion in Sept 2008?
In accordance with our AUPs, we verified that the FDIC’s summary account information, prepared using the USSGL accounts, agreed with summary information from the FDIC’s general ledger accounts and was accurately entered into the GFRS financial statement modules as of September 30, 2008 and for the fiscal year then ended. However, we did note that Contributed Capital of $127,531,741,537 reported by the FDIC in the GFRS Income Statement for the fiscal year ended September 30, 2008 was not derived from the FDIC’s general ledger accounts. DOF representatives told us that they entered certain financial information into the GFRS that was not derived from the FDIC’s general ledger accounts in order to accommodate calculations made by the GFRS financial statement templates. Our disclaimer3 in the GFRS includes narrative indicating that the referenced amount was not derived from the FDIC’s general ledger accounts. The FDIC separately reported Contributed Capital of $127,269,216,557 in the GFRS Balance Sheet for the fiscal year ended September 30, 2008. That amount was derived from the FDIC’s general ledger accounts.
https://www.fdicig.gov/2009reports.asp
Try
09-001 12/17/2008 Verification of the FDIC’s Data Submissions through the Governmentwide Financial Report System as of September 30, 2008
Is this the off-sheet balance?
JPM has around 2.2 trillion assets, there was a notice from federal reserve saying jpm was not compliant to dodd-frank probably in 2015 or 2014, not sure exactly.You can look it up on federalreserve.com .
Kerry killinger expected around $20-$25 in March 2008, that would put 1.7B * 25 = 42B worth commons + 7.5B pref+ 6.5B Notes+around 13B WMB notes = around 69-70B total value.
In worst case scenario for JPM, that would be a reasonable number to pay up.Why would they raise $170B to pay us?.
May be regulatory capital raise due to Dodd-Frank bill.
Is JPM managing LT?
In JPM vs FDIC for idemnity claims of JPM against FDIC
JPM was seeking for this too
"15. The FDIC-Receiver also undertook to indemnify JPMC up to a limit of
$500 million for claims asserted directly or derivatively on behalf ofWMB's parent, Washington
Mutual Inc. ("WMf'), "based on the process of bidding, negotiation, execution and
consummation of the transaction contemplated by [the P&A Agreement.]" (ld. § 12.1(a)(9).) "
Why is JPM fighting for the Parent of WMB, WMI?
Mon Nov 2, 2015 | 8:32am EST
The motion was filed by JPM, so they prepared the order to sign by the judge.I got your point though.
This statement is utterly wrong
"1.) massive RS on 10/11 which could be = 1:300 "
Its not an RS on 10/11, its a shareholders approval for a reverse split between 2 to 300, to 1.As i mentioned earlier, if they do 300 RS, the company will have 500K shares outstanding, that would a big joke of the century.
And ESS is very promising
http://www.ncbi.nlm.nih.gov/pubmed/27404165
Skin Substitute Shows Promise in Children with Severe Burns
http://www.raredr.com/news/skin-substitute-burns
they have a meeting to delete all previous board meeting minutes this week or past week.
JPM said Best interest of WMI Liquidating Trust and all parties in interest
Now JPM settles with DB,FDIC,WMB Noteholders,TPS and others.
Page 29/29
http://www.kccllc.net/wamu/document/0812229160510000000000003
Pretty soon LT might receive all receivables from JPM...IMHO
LTIs/cash for former classes 19 and 21,22 soon...IMHO
RECRUITING FOR ELTOPRAZINE- Latest Information Update: 15 Sep 2016
Trial Profile
Phase III study of Eltoprazine in adult patients with Attention-deficit hyperactivity disorder
Recruiting
Phase of Trial: Phase III
Latest Information Update: 15 Sep 2016
What do you think about Eltoprazine Phase 111 ongoing?
Around $50B liquidity Sept 11 2008, as per OTS
Read
2008-09-11 OTS letter to FDIC re WaMu ratings
http://fcic.law.stanford.edu/resource/index/Search.keywords:WAMU/Search.Videos:1/Search.Documents:1/Search.Interviews:1/Search.startmonth:01/Search.startyear:2008/Search.endmonth:09/Search.endyear:2016
Page 13
Liquidity is managed to ensure sufficient liquidity under two stress scenarios and the bank
presently has nearly $45 billion of total liquidity, not including its potential $8 billion access to
the FRB discount window. Under the most severe stress scenario, WaMu had $13.8 billion in
excess liquidity at July 31, 2008. This excess liquidity is after an assumed 2 notch downgrade in
ratings, a 10% additional retail deposit run off and a $5 billion commercial deposit run off,
FHLB haircuts increasing another 4%, no credit card securitization or conduit rolls. The stressed
excess liquidity of $13.8 billion is below the Bank's internal $25 billion policy threshold that
was set when the Bank was heavily engaged in mortgage banking operations and larger in size.
Management is continuing to build its liquidity through retail deposits and pledging additional
collateral for borrowing lines. Current uninsured retail deposits are estimated at $17 billion but
expected to be approximately $3 billon less when an account by account scrub is done and
uninsured commercial deposits are estimated at $5 billion. Recent deposit trends are generally
stable and back to pre- IndyMac patterns.
Jamie Dimon's interview by FCIC
About WAMU around 54.20
http://fcic.law.stanford.edu/interviews/view/87
JPM BOUGHT 145000 loans worth 54BILLION
"JPMorgan's Public Commitment results for 2008 ref1ect the purchase of
approximately 145,000 qualifying loans totaling $53.4 billion that were obtained as a
part of JPMorgan's acquisition of Washington Mutual's loan portfolio."
http://fcic.law.stanford.edu/resource/index/Search.keywords:JPMorgan/Search.Videos:1/Search.Documents:1/Search.Interviews:1/Search.startmonth:01/Search.startyear:2008/Search.endmonth:09/Search.endyear:2016
Terminating a Receivership
Settlement with the Assuming Institution
The FDIC and the assuming institution handle most of their post-closing activities
through the “settlement” process. The settlement date may be from 180 days to 360
days after the bank or thrift closing, depending on the failed institution’s size. Adjustments
made between the institution’s closing date and the settlement date reflect (1) the
exercise of options by the acquirer, (2) any repurchase of assets needed by the receiver or
“put back” of assets to the receiver by the assuming institution, and (3) the valuation of
assets sold to the acquirer at market prices.
Management and Accounting for Receiverships
Each receivership is operated as a separate entity. During the peak years of 1990 to
1992, the FDIC actively managed nearly 1,000 receiverships and terminated on average
110 receiverships each year. In addition, at its peak in 1992, the Resolution Trust Corporation
(RTC) actively managed about 650 receiverships. Both the FDIC and the RTC
had to develop and maintain separate accounting for each of those receiverships. As a
result, the agencies developed allocation methods to distribute income and expenses
among the various receiverships.
Professional Liability Claims
The FDIC conducts an investigation into each failed institution to determine if
negligence, misrepresentation, or wrongdoing was committed. Any funds recovered
from those investigations are returned to the receivership.18
Terminating a Receivership
Receivership termination represents the final process of winding up the affairs of the
failed institution. All significant issues must be resolved before termination. The duration
of a receivership varies depending on individual circumstances, such as type of
closing; volume and quality of assets retained by the receivership; and the existence of
defensive litigation, environmentally impaired assets, employee benefit plans, and
professional liability claims.
Receivership closure of any bank will be officially announced by FDIC as per FDIC.
CONGRESS ASKING FBI TO PROVIDE FINANCIAL CRISIS ERA INVESTIGATIONS AND CONCLUSIONS.... hurry up
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125116134
Fidelity Management Trust Company was recently mentioned in Deutsch bank case.Any one any idea of this agreement discussed in GSA?
"Assignment of Trust Agreement, dated as of August 10, 2009, between
Washington Mutual, Inc. and Fidelity Management Trust Company, consented to
by JPMorgan Bank Chase Bank, N.A."
Section 2.19. Loan Servicing. From and after the Effective Date, JPMC
shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit
“Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit
“AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to
WMI all checks and/or payments received in connection with those loans in its
possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is
holding with respect to such loans and (ii) provide WMI an accounting with respect to
each of the foregoing. Notwithstanding the foregoing, any dispute that may arise relating
to the servicing of such loans during the period from and after the Effective Date shall be
brought pursuant to such servicing agreements and this Agreement is not intended to
create any additional rights, obligations or remedies. The Parties acknowledge and agree
that (y) the Loans are the only loans that are or will be, from and after the Effective Date,
serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their
Affiliates or their successors in interest) and that the Service Agreements are the only
servicing agreements between the JPMC Entities (or their Affiliates) and the WMI
Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this
Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or
liability to any of the WMI Entities (or their Affiliates) with respect to or in any way
related to the servicing of any loans for the WMI Entities (or their Affiliates).
Eltoprazine Phase-111 AND Human Skin Replacement
Active Indications (Highest Phase)
Phase III
Attention-deficit hyperactivity disorder
Phase II
Aggression; Drug-induced dyskinesia
Most Recent Events
13 Sep 2016
Phase-III clinical trials in Attention-deficit hyperactivity disorder (PO) (Amarantus BioScience pipeline, September 2016)
10 Feb 2016
Eltoprazine receives Orphan Drug status for Drug-induced dyskinesia in patients with Parkinson's disease in USA
04 Jan 2016
Amarantus pauses enrolment in its phase IIb trial for Drug induced dyskinesia in USA
---------------------
Tissue replacements
Active Indications (Highest Phase)
Phase II
Burns
Clinical Phase Unknown
Nevus
Most Recent Events
13 Sep 2016
Phase-II clinical trials in Burns in USA (Topical)
08 Aug 2016
Clinical trials in Burns (In children) in USA (Topical) prior to August 2016
08 Aug 2016
Positive efficacy data from a compassionate use clinical trial in Burns released by Amarantus BioScience
http://adisinsight.springer.com/search
Interesting part was they wanted whatever (parties) is held or would be held at LT for common shares,named as LTIs.
Check this out
http://www.kccllc.net/wamu/document/0812229120113000000000009
Page 14/25
Point # 10
LTIs for commons look like a guaranteed thing IMHO.