current
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ReikoBlack, do you believe in the terms Safe Harbor, BK Remote Assets?
If no, then you should have no reason to be following this so diligently as we ALL knew for several years there would be nothing significant in the actual bk cases. If there was, these bk cases would be shown for historical and present times as a fraudulent which could never happen.
So, if you do believe in the realistic bk terms then one should know this would actually have to be played out to the very end before one could be negative to the point of believing nothing is returning. This would mean the following expert legal professionals were and are stupid which I whole-heartedly DO NOT BELIEVE!
1) The very professionals who perform the work of legally protecting Safe Harbor assets such as the UWs are real stupid
2) SG and Steve Susman were real stupid or just sold us out and let the Perps out of a (5AT) Fifth Amendment Taking by deleting the verbiage for ZERO in return.
3) This WaMu drama will not be over until the Receivership is resolved and/or terminated however, distributions would also end this for most of us
4) All the law firms and lawyers who represented the Hedge Funds risk their licenses, standing in society, prison time and much more to legally steal nothing
5) I could go on, on, and on but just a barely coherent individual would get the drift
6) Just remember the following two terms as they will play a vital role in our potential distributions:
A) Delaware Statutory Trusts…(DST)
B) Beneficiary Recipients as a result of being part of a DST
…
XOOM, YOU ARE EXACTLY CORRECT...YES, I WILL SAY IT AGAIN, YOU ARE EXACTLY CORRECT
____________________________________________
Beneficial Holder’s and DST’s are 2 words, Pliss tries to stay away from.
____________________________________________
THE FOLLOWING ARE THE MOST IMPORTANT WORDS LEADING TO OUR EVENTUAL DISTRIBUTIONS
1) BENEFICIAL RECIPIENTS... for those investors who signed timely releases by 3/2012
2) DST = Delaware Statutory Trust...Will play a PIVOTAL ROLE in distributions
...
BBANBOB, are you talking about potential returns between 24B and 625B and potentially more depending on interest which is my guess that would include a couple of separate buckets?
...
Hey fred. If there is to be more litigation regarding the Libor suite, what is the last date to file to ensure the Bar Date does not eliminate their claim?
...
BBANBOB, you stated the following correctly.
________________________________________________
BOTH CLASSES OF EQUITY, BOTH PREFRD AND COMMON EQUITY AND THEIR PARTICIPATION IMHO IS AS THE PAYOUT MATRIX STATES 75/25%
________________________________________________
There was an Ownership Change on 3/19/2012 which would prevent ANY other type of ownership OTHERWISE, there would be duplicate ownership of the same assets and this could NEVER happen in Delaware.
Further, the 75/25 has been dictated by the court in an August 01, 2012, 8K filing showing Preferred Equity Interests and Common Equity Interests to be at the 75/25 ratio, and this decision by the court on the (ED) Effective Date which was March 19, 2012, and will apply all the way to the end whether Safe Harbor protected assets or not. There can NOT be duplicate ownership of the same assets.
Once the ice breaks on this ALL HERE WILL SEE THAT A (DST) Delaware Statutory Trust will play a pivotal role in our distributions!
...
Hey Fred..,this is the MOST logical outcome based on the facts that we know
***BIGTIME PAYOLA***
Yes, otherwise this mess would have been closed years ago
…
stoxjock, you ask the following.
——————————————
Hi LG, Do you know this 'XXXX' the Desert Crooner is crowing about?
——————————————
Let us look at it this way. Forget who XXXX is because it does not matter for the following purposes.
As I have posited for years, a DST will play a vital role in our future distributions. As stated in Amended POR 7, William Kosturos is the DST Trustee who has God-like powers and can arrange mergers, issue stock, transfer real estate, and much more, and those investors who signed timely releases by 3/2012 are Beneficiary Recipients under the DST who own the former WaMu Estate. This happened when there was an Ownership Change signed by the court on the (ED) Effective Date of March 19, 2012
Some investors absolutely refuse to admit that a DST will play a vital role in our future distributions as it does not bode well with their investment decisions before the deadline of March of the year 2012.
From everything I think I have learned is WMI is still alive however, to me it does not matter so let us just call the so called XXXX Grandfather WMI or even ABCD
…
COOP Annual Report For Year 2022 + Annual Meeting info
https://www.sec.gov/Archives/edgar/data/933136/000119312523084561/d412788dars.pdf
https://www.sec.gov/Archives/edgar/data/933136/000119312523084552/d382577ddefa14a.htm
…
boarddork, very nice cliff note version, and summation. I will add, there is no doubt that a DST will play a pivotal role in our eventual distributions so WMI DST as shown in Amended POR 7 with William Kosturos as Trustee with God-Like powers.
Those of us who signed timely releases by March of the year 2012 will be considered Beneficiary Recipients of a DST as NO ONE can own a DST outright.
------------------------------------------------------------------------
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
..
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PRIOTECTED
...
Mr. Cooper Group Incorporated or MCGI…so probably another DST
…
Sounds very promising fred...may be in for a twofer...UWBKQ/WaMu... St Pete is a great area and much more affordable and the Venice area is also very promising...prices all over are skyrocketing in Fla due to DonnyJohnny saving Fla from the rest of the country and world total domination by the corrupt and criminal cabal.
...
Hey fred, now this makes sense and love this "QUITE NICE" return blurb as long as VERY NEAR is not close to the year 2050.
Fred, I am now in your part of the country BUT, I NEED that change to get my LUXURY HIGH-RISE unit overlooking the Gulf and the rest of Florida...hurry...hurry...HURRY or I will be expired at the previous rate of time passing!
There is some fine-looking equipment flying out of this little port in south Naples.
...
clintonj, here you go with the link and more.
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PROTECTED
Xxx
Cura Asada and Dmdmd1 On Same Page For Potential Distributions-Enjoy If An Investor Has Timely Signed Releases By 3/2012
Thanks goes to Dmdmd1 and Cura Asada for sharing their work
From Cura:
The reason for no distribution to Escrow holders is before or on the Closing Date, February 11th, 2023.
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th, 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023, between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
WMB Bk distr dates Feb 1 st, May 1 st, Aug 1 st, Nov 1st
WMI/WMIIC Bk Mar 1st, June 1st, Sept 1st Dec 1st
Litigation Trust Agreement
http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023, between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
These are shares icw the February 12, 2020, $ 2.75 billion loan agreement, to buy outstanding equities that were merged into Nationstar
_____________________________________
From Dmdmd1:
IMO…I try to keep things simple these days, and I’ve learned a lot from this bankruptcy education :
1) I believe the $165 billion refers to the R-203 document, stating the off-balance sheet Private securitizations per JPM 10-k
2) I think they were all Deutsche Bank MBS Trusts that JPM only serviced.
3) THE FDIC-Recivership has no jurisdiction over these bankruptcy remote assets, and a FDIC lawyer stated that in a letter to a WMI shareholder. I contend that the delay in WMI recoveries is not due to FDIC-LIBOR litigations
4) WMI retained beneficial interests in these securitizations ($101.94 billion original face amount)
5) The “source” confirmed my valuation estimates and I think it also confirmed Alice’s valuations too.
6) The WMI recoveries are waiting to by distributed after some timing mechanism, some confluence of events. What that it is, has obviously been kept out of public purview.
7) Other than the FDIC-Receivership being open, there is no other impediment to WMI recoveries. So, common logic has me believing that it is the last obstacle. But I don’t think it is. I believe that WMI recoveries can start despite the FDIC-Receivership being open.
8. Everyone is waiting, and since the “source” confirmed the growth of WMI recoveries (since 2008 from $101.94 billion to $625 billion as of 2021), I think the big boys are happy that it isn’t dead money doing nothing.
9) eventually the WMI recoveries will start, and my WAG is in Q1-Q2 of 2023. The announcement might be as early as first week of April 2023 (deadline for proxy materials to be sent out prior to annual shareholder meeting in early May 2023).
10) IMO…one thing is for sure, every day we wait, the bigger the WMI recoveries grow.
I contend almost 99% of all MBS Trusts have been liquidated into cash by now, and since DSTs have to keep cash in short term obligations, it’s very coincidental that there is an inverted yield curve with respect to bond yields. This inverted yield curve is good for short term obligations!
https://www.investopedia.com/terms/i/invertedyieldcurve.asp
Excerpt:
“ Does Today’s Inverted Yield Curve Signal a Forthcoming Recession?
At the end of 2022, against a backdrop of surging inflation, the yield curve got inverted again.
As of Dec. 2, 2022, Treasury yields were as follows:
Three-month Treasury yield: 4.22%
Two-year Treasury yield: 4.28%
10-year Treasury yield: 3.51%
30-year Treasury yield: 3.56%
As you can see above, the 10-year U.S. Treasury rate is 0.77 percentage points below the two-year yield. That is an unusually large negative gap and the widest since late 1981—when the economy was pushed into a deep recession.”
_______
And US Federal Reserve stated that it will stop raising interest rates in May 2023.
So with the confluence of events above:
1) Inverted yield curve makes short term obligations more profitable
2) US Federal Reserve will stop increasing interest rates in May 2023
3) Mr. Cooper Group’s annual shareholder meeting in first week of May 2023
4) it would mean that if WMI recoveries start in May 2023 or June 2023, then all WMI legacy shareholders would have a lot of dry powder during a continued recession! Thus, all equities are at a severe discount!
...
Cura Asada thoughts on distributions based on filings he/she has read. I find his thought positively provoking plus in the very near future! As I always say, time passing and filings will show us the way forward.
Remember the following. Even as experienced subject matter expert and former poster, CBA09 said, "we may have to wait on the receivership to be resolved before we see our distributions but also said we are sitting very fine with our timely-signed releases
_________________________________________________
Thanks goes to Cura for his following posts
The reason for no distribution to Escrow holders is before or on the Closing Date, February 11th, 2023.
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th, 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023 between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
WMB Bk distr dates Feb 1 st, May 1 st, Aug 1 st, Nov 1st
WMI/WMIIC Bk Mar 1st, June 1st, Sept 1st Dec 1st
Litigation Trust Agreement
http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf
Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023 between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith
https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf
These are shares icw the February 12 2020, $ 2.75 billion loan agreement, to buy outstanding equities that were merged into Nationstar
...
AZC, you wrote the following:
WMI Washington and WMI Delaware will really get conveniently combined' (not just the SEC allowance slick stuff) ... ALL under the big dog' (XXXX) ... and COOP will be just exactly what it says it is, ... a servicing mechanism ... no more, no less'
————————————————
This is what BBANBOB and I have been saying for years so rather than agree with the known facts you want to try and make this a new revelation…you are too funny…now make sure you keep this correct lightbulb lit.
Sound familiar - The DSTs will play a vital role in our potential future distributions
…
BBANBOB, do you think the following explains virtually no discussion on all the positive posts with proof recently?
The diagnosis could be EscrowFluenza:
EscrowFluenza is a direct result of not signing timely releases by 3/2012 to receive NewCo/WMIH shares and Timely Releases for Future Distributions
Definition of EscrowFluenza - one becomes very irate, irritable, hateful, low self-esteem, dizzy, sleepless nights, uncontrollably squirting feces, and volatile at the very mention of Large Style monies returning to INVESTORS WHO SIGNED TIMELY RELEASES BY 3/2012
XXX
THE FOLLOWING POSTS ARE AS CLOSE TO PROOF AS POSSIBLE FOR NOW ASSETS RETURNING TO TIMELY SIGNED RELEASES BY 3/2012 UNTIL A FILING/DISTRIBUTION ACTUALLY HAPPENS
***READ VERY CLOSELY and remember, the assets will still be there, they can go after them later so NOW is later***
FROM Cura Asada - In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.
*** Thanks goes to JJflash, and Split T***
Issued Feb 14, 2023 for Long Beach (on behalf of WMMSC) signed by same person.
Long beach was merged into WMMSC but still filing ABS 15-G.
WMMSC is filing this Form ABS 15-G on behalf of Long Beach, as securitizer, in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which Long Beach acted as depositor and which are outstanding during the reporting period.
https://www.sec.gov/Archives/edgar/data/1119605/000092963823000577/longbeach_abs15g.htm
And it continues for "WaMu Asset Acceptance Corp"...they live ... under the umbrella of WMMSC
https://www.sec.gov/Archives/edgar/data/1317069/000092963823000579/wamuasset_abs15g.htm
JJ, Camille Coles, a former employee of WAMU has been with JPM since the theft by the FDIC and JPM. Wow, President of WMMSC has little left and is in wind-up mode IMO. The question is, where the hell is our money as beneficial owners?
Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 14, 2023
WASHINGTON MUTUAL MORTGAGE
SECURITIES CORP.
(Securitizer)
By:
/s/ Camille Coles
President
FROM Large Green:
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PRIOTECTED
xxx
Cura, yes, BBANBOB and I have been saying for a very long time they had to issue shares and/or complete the merger with NSM that was NOT totally complete even though WMIH filed an 8K on July 340/2018 showing the merger complete. However, there is always issue to complete even after they said it was complete.
Thank you for your thoughts as I really appreciate this as I am sure many do who signed timely releases by 3/2012!
...
Yes, two 27B suits were totally fabricated to ensure equity was out of the money, also they were accepted WAY AFTER the deadline for the Bar date. Just more corruption from Walrath who approved these fraudulent suits.
...
Yes, I have always been afraid of the phrase, possession is nine-tenths of the law
BBANBOB, this filing proves a couple of things many people have tried to deny for years
1) Safe Harbor, BK Remote assets are real and NOT included in BK cases BUT BK law carries through to complete ownership and the (OC) Ownership Change on 3/19/2012 with timely-signed releases NOW own the former WaMu Estate...to the end
2) Delaware Statutory Trust (DST) is real and number six of the Seven Deadly Sins of a DST applies in a huge way with Kosturos as DST Trustee
3) As I have said for years, a DST will play a vital role in our future distributions
...
Restricted Subsidiaries PLUS Footnote 39 ALSO PROVES KOSTUROS IS A DST TRUSTEE
The Following Proves Legally Hidden Monies/Assets- BK Closure 12/21/2019 Then Cases Terminated 1/23/2020 As One Bucket of Potential Returns
1) I see distributions from (DSTs) Delaware Statutory Trusts where Kosturos is the God-like Trustee (see below) routed through DTC/Clearstream then to your Broker as one of the buckets
As set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
Notice the highlighted pieces below in the confidential filing
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
MORE THAN LIKELY, THE LOAN PORTFOLIO ASSETS ARE BK REMOTE, SAFE HARBOR PRIOTECTED
xxx
cura, can you explain your thoughts, please? Thank you
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Yes, this is interesting and maybe he and Doreen are the only ones authorized to dissolve these subs of the WaMu Estate
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Newflow, this shows WMMRC dissolved.
Status
Dissolved
Incorporation Date
28 February 2000 (about 23 years ago)
10 Apr 2019
ARTICLES OF DISSOLUTION
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BBANBOB, exactly. We are finally at the top of the hill as you discussed for years and now started down.
Our distributions will happen during a calamity, a crash, or a total world meltdown, so now the downhill snowball has started and will only get bigger and faster as it heads down toward civilized society taking out any and all in its path.
LET THE DISTRIBUTIONS BEGIN!
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SUNDAY IS AN HISTORIC DATE - MARCH 19, 2012 was the (ED) EFFECTIVE DATE WHICH COULD HAVE BEEN THE BASE THAT WAS USED IN POTENTIAL DISTRIBUTION TIME FRAME PLUS AMOUNTS BUT OF COURSE ONE OF THE *800 PLUS COURT SEALED DOCSe
This date was also proven to have been when an (OC) Ownership Change occurred that forever changed the ownership of the former WaMu Estate to those investors who signed timely releases by March of the year 2012 which included Billionaires like Tepper, Savitz, and Bonderman among others.
A DST will eventually play a pivotal role in our potential future distributions and remember number six of The Seven Deadly Sins of a DST discusses an agreed timeframe for distributions.
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SUNDAY IS AN HISTORIC DATE - MARCH 19, 2012 was the (ED) EFFECTIVE DATE WHICH COULD HAVE BEEN THE BASE THAT WAS USED IN POTENTIAL DISTRIBUTION TIME FRAME PLUS AMOUNTS BUT OF COURSE ONE OF THE *800 PLUS COURT SEALED DOCSe
This date was also proven to have been when an (OC) Ownership Change occurred that forever changed the ownership of the former WaMu Estate to those investors who signed timely releases by March of the year 2012 which included Billionaires like Tepper, Savitz, and Bonderman among others
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WaMu - Both bk cases officially terminated on 1/23/2020
UWBKQ -Bk case has NOT terminated
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Now, in my view the reason monies exist in this little bitty bank is because nothing is left other than Libor,
This proves Libor is not the reason UWBKQ has not terminated rather,
there IS MONEY to distribute and Libor may he the reason the last distribution has not happened yet however, MONEY TO DISTRIBUTE MUST exist
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Bbanbob, the lawyers clients (UWs) did not see it that way.
I believe this statement says it all…
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ReikoBlack, curious on your response to BBANBOB in reference to his following question.
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This STILL DOES NOT EXPLAIN WHY THEY REFUSED TO MOVE TO COMMONS DOES IT??????????Now REALIZE as P holders they would get a TON OF CLASS 22 credits, BUT their response via the attorney when he was told it was the same just at a different rate, HE SAID """ VERBATIM """ MY CLIENTS DON'T SEE IT THAT WAY""" [color=red][/color]
Hopefully, we at least see or hear about distributions this year.
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IPrelude, I have always said a DST will play a vital role in our eventual distributions. Here take a look at the Seven Deadly Sins of a DST:
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The following is a list of the Seven Deadly Sins of a Delaware Statutory Trust (meaning all seven conditions below need to be true in order for a DST to be a legal entity):
https://seracapital.com/1031-exchanges/the-seven-7-deadly-sins-of-delaware-statutory-trusts-dsts/
"The Seven Deadly Sins of Delaware Statutory Trusts (DSTs) Explained
ONLY POSTING NUMBER 6 Of The 7 Deadly DST SINS:
6. All Cash, Other Than Necessary Reserves, Must Be Distributed To The Co-Investors Or Beneficiaries On A Current Basis. According to the IRS regulations, DSTs are allowed to keep cash reserves on hand to cover emergency maintenance and repairs issues. However, they are required to share the earnings and proceeds realized from the DST to its beneficiaries within the agreed distribution date. This deadly sin prevents trustee misappropriation of funds and protects beneficiaries’ rights to receive their earnings promptly.
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BBANBOB, yes, you have been saying since the beginning of this travesty that if and when there are distributions this would happen during a financial meltdown. This calamity has clearly started.
Dmdmd1 has mentioned he felt the distributions would start in the second or third quarter of the year 2023.
Remember, COOP's annual meeting is during the latter part of May. If there are any material developments that could potentially be tied to what we are looking for then these materials would need to be filed and sent out to shareholders prior to 60 days BEFORE the meetings take place, assuming there needs to be shareholder approval. However, this approval may not be necessary for something to still happen as there are ten million preferred authorized and shelf-ready.
This means we should see these materials prior to the end of March 2023. As I always say, only time passing and filings will show us the way forward.
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fred, you said the following:
___________________________________________
..esop believes checks are in the mail, and our brokerage accounts get CREDITED, at any moment.......10 spots, per...
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It would seem to me now that we are on the cusp of a potential worldwide financial calamity, the FDIC would like to get many of these so-called bank failures during the 2008-2012 time period out of the way as a whole new bunch start failing.
Otherwise, they will be so bogged down this could literally go on for another 20 to 30 years getting little to nothing accomplished...of course, that may actually be their goal...
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IPlelude, very interesting all moved to be incorporated in Delaware.
As of : 03/15/2023 07:39:14
This page is valid for most business transactions but is not sufficient for filings with the Secretary of State
Obtain a certification for filings with the Secretary of State.
WMI HOLDINGS, INC. DBA WMI DELAWARE HOLDING CO.
Texas Taxpayer Number 32042430036
Mailing Address 1999 BRYAN ST STE 900 DALLAS, TX 75201-3140
Right to Transact Business in Texas
ACTIVE
State of Formation DE
Effective SOS Registration Date 08/13/2010
Texas SOS File Number 0801306086
Registered Agent Name C T CORPORATION SYSTEM
Registered Office Street Address 1999 BRYAN ST., STE. 900 DALLAS, TX 75201
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Strike, without a written, signed, witnessed and dated agreement, there is no other answer with experienced law firms especially with the likes of SG, it is the same as selling your clients down the river for whatever means period!
I do not believe it but if that is what happened SG sold us out period!
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COOP 8K
https://www.sec.gov/ix?doc=/Archives/edgar/data/933136/000115752323000427/a53360870.htm
Item 7.01 Regulation FD Disclosure.
Mr. Cooper Group Inc. (the “Company”) made the following disclosures in relation to market events, including the recent closures of national banks:
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The Company’s corporate uninsured cash accounts are held in money center and global investment banks; and
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Client funds are held in insured deposit accounts at a mix of money center and regional banks.
Separately, the Company disclosed that over the course of the first quarter it has increased the target hedge ratio on its MSR hedge position to 75% of the net duration risk in its MSR portfolio from 25% at year-end 2022, with the goal of mitigating the risk to capital and tangible book value in a declining interest rate environment.
The information furnished pursuant to this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor will such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
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boarddork, you said the following.
THERE IS VIRTUALLY NOTHING about who WMI Corp (WMIH)
Remember, WMIH was nothing but a shell company with 73 million in cash and no income stream, and no business other than the insurance runoff business. It exited bk on 3/19/2012 under Fresh Start accounting rules with no business.
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