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... Well ~ a Few "AZ" Thoughts ~ ...
Lets see'
WMIH, the Newco ? ... A Rock Solid Investment' ... In my Opinion, and an absolute steal at these $2.00 PPS' purchase ranges ... As everyone knows, I've been around for a very long time and was blessed to have the opportunity to load up the ol' turnip truck in the half dollar range back in 2012 ... I had released everything at transition and simply trusted S&G & Mike ... I have never sold any at all, throughout the whole deal, both Pre Bankruptcy, and then Pre & Post Plan 7's Confirmation, but I also have not added anything since Nov 2013 ($1.04 my last add) ... so my entire cost involved going back to Jan 2006, for my entire investment is currently green' plus' ... so its kinda hard to find me in an upset mood at any point in time ...
But lets get serious ~ Currently, If I am an idiot for being on this stock ?, then there are bigger idiots than me over at the Board Rooms of ~ KKR & Citi for throwing 400m and 200m respectfully at this deal that just finalized on the 5th ... So Yep' ... I say WMIH pops soon & pops quite soon' ... or the shareholders at Citi & KKR need to have their own' ... "special shareholders meeting"
( -esc ) escrow tracking markers ? ... Just as solid as I have ever been ... I say "R" should begin to finalize as per their own dictated procedures with our own debtors estate ... soon ... now that the PA&A agreement has terminated ...
I do not see any negatives at this point on either front'
AZ
... What's Up ? Who's Lookin' for me ? ...
... While escrows are common within BK Filings ...
... As equity shares or escrow tracking markers, are common within bankruptcy filings and are generally cancelled ... What is also quite common in bankruptcy filings are settlements between the estate and the creditor classes ...
However, ... What isn't common within bankruptcy filings is the filing (Filing # 0001) Our own, WMI initial Bankruptcy filing, ... showing the debtors estates assets exceeding its liabilities by some extreme amounts of valuation' ... as filed and never amended' or corrected'
as per the initial filing, 34b assets - 8b liabilities ~ and never amended' ...
AZ
... Boris ~ I Agree ...
... When looking back over the entire process, as many of us have dissected the documents, ... I can understand and make sense out of us' (retail equity class 19 & 22 holders) being asked to sign a release ~ which released JPMorgan ...
I am not saying right or wrong, I am saying that our being asked to release JPM has made sense to me ... Simply' ... an easy defense would be ... "Hey Everyone' we (JPM) did not seize WaMu's Bank' (WMB) ... we were merely asked to buy it' (WMB) by the OTS / FDIC and that's what we (JPM) did'" ... "a good deal was offered ? and we took it'"
So, Okay I get that JPM part ... BUT, ... retail also having to release the FDIC has always left me scratchin' my head ... we were never in a position to legally charge them (FIRREA) ... (the 34' Act protects the FDIC ) ...
Nope, ... there is and has been a whole lot more going on here' ... If the FDIC was totally justified, within their numerous actions, ... they could easily just tell everyone to "go pound sand" ... and no release would have been considered' or needed ...
I have some thoughts which sort of bring this all full circle, for both the new company and also the escrow tracking markers at the same time, ... as both could easily benefit from returns from "R" ... however, at this late date, I have a feeling that all will be known soon enough' anyway' ...
... In my opinion, We' (the Debtors Estate ~ WMIH) have something special and of great value that KKR wants ? and wants to be a part of and in on ... and I do not believe this Dec 2014 large rights offering, has to do with, or is regarding a shell company with the possibility of some net operating tax allowances ...
AZ
... So, "Big Money" is not buying ? ...
So, let's see, you do not believe that the 12/19/2014 initial announcement of a rights offering, by KKR would not' be considered to be "big money" ? ...
And, if someone, took the opposite view, and were to consider KKR's two combined investments to actually be "big money" ... comparitively ... do you and others continue within the theory that KKR spent some 400 million plus dollars, to participate merely within our shell company and our NOL possible valuations?
so, since you don't believe "big money" is here due to any "R" possible returns to the WMI debtors estate, ... I would be interested to hear just why KKR chose to invest some 25% of its liquid cash on hand into WMIH ...
If you are correct, in that all we have are some NOL's to offer, than I would think that KKR needs a special shareholders meeting to be called, NOT WMIH ...
I believe there is much going on that we' as retail shareholders are not aware of and that the future vision is tainted by some ...
I would think that underestimating the financial planning capabilities of the people in charge, would be an error, both past and now present tense'
just sayin
AZ
And "big money" is not buying into any theory that the FDIC-R has found the same tens to hundreds of billions that are asserted to exist in the receivership; the junior bonds are pennies and the senior bonds most impaired. Big money, like the Paulson funds, "bailed on the WMB senior notes
... Soon ? The Arguements will be Meaningless ...
... Does anyone here believe that the FDIC did NOT have the power to shut this down and send everyone packing ? ... including JPM ? ... Study "FIRREA" ... if there are any specific questions ...
No, ... The FDIC wanted everyone to sign their release as directed to do so, due the fact that ... if an individual signed their release as directed, that individual holder, would be in a position to participate within the Plan 7 settlement ... the mediated final and approved result' ... as disclosed'
Again, if the FDIC wanted to ... "jack" ... anyone, they could have just done so' ...
Regarding WMIH ? ... KKR obviously, sees something in us' .. of great value ... something worth 400 million dollars ... US, WMIH, .. just US ... If KKR just saw some future tax benefits, ... they (KKR) could have achieved that hedge a whole lot of different ways with a whole lot of different shells / companies ... for a whole lot less money ... or multiple participations ...
WMIH is something special ... Special enough for a company with 92 billion dollars under asset management to commit 25% of their liquid cash to, ... while we are still on the OTC ...
I doubt KKR cares who released or who didn't ... neither do I ... what I do know is that ... WMIH will soon be taking off, ... and equity holders of transitional escrow tracking markers will ultimately be treated properly ... as agreed upon within the now approved Plan 7 settlement, ... and "R" begins to finalize the WMI Debtors estate ...
The FDIC will finalize this WMI Debtors estate in proper form as mandated' ...
AZ
... LG, I agree, This Is All Planned and Connected ...
... There is too much going on right now for this, ... NOT ... to be' connected ... as we approach the filing of the LT's 4th qtr report at the end of the month, I believe the inclusion of ... footnote 10 ... will begin to make sense to us regarding T-4 ...
Also, ... WMIH has something that KKR wants badly' and was willing to commit 25% of their liquid cash on hand to get ...
I doubt this has anything to do with only a gain of a possible "tax benefit" ... we shall soon see' ...
AZ
... Had ~ "R" ~ Planned on Cheating This WMI Debtor ? ...
When the FDIC, ... (R) ... agreed and chose to ask for each of equity's participation within the Plan 7's settlement, by requesting your individual signed release ... The FDIC was telling every equity holder, that equity participants would be treated fairly by this Receiver' and according to the FDIC's procedural mandate' ...
If the FDIC- R had planned on merely screwing everyone, ... they would have never taken the time to request your ... "Signed Release" ... they ( R ) would have just screwed equity, and moved on ...
The Documents, reveal equity's future to be quite positive ~ those that listened to the directives and released as requested ... anyway' ...
just sayin'
AZ
... Hi Guys ~ What's Up ? ...
None of you are discouraged today are you ? ... actually, I have been looking into and reading about some things' that I have been curious about' ... regarding WMIH'
AZ
... hotmeat, this has always made sense to me ...
nice job within your easy to understand presentation'
... to be confused is understandable ... to remain confused is a choice ...
AZ
... This Opportunity Came Along Just Once ...
Historically, this was the first time a situation of this magnitude had ever happened ... and due the recent laws we all just saw being passed, it will not be able to happen in the same fashion ever again ...
Some retail equity holders followed, trusted and listened to the people that fought for and handled our existing situations ... Some thought at the time that they knew better, some thought they were smarter, ... they were not ... some just ... "Smarted" ... themselves out of participating in the greatest financial recovery ever made available to the common equity shareholders of a company of any where near this size ...
Some thought the 16's were the way to go, some thought converting their positions to cash and buying back in after transition was the way' ... many ( 30 % ) didn't release commons ... many thought cashing out of commons and increasing their 19's holdings was the answer ...
However, ... Many trusted and believed and released their holdings as instructed to do so, and not only received their allocated trust markers, but also their transitioned new company shares ...
No postings will change the future outcome ... many will reap their designated reward, some simply will not ... those that do not, will live with that reality, of having been given this one time opportunity and making a poor choice for what ever reason they had at the time ...
" it is what it is "
Good Luck to All
AZ
... LG, It Ain't Rocket Science ...
All any honest and innocent retailer needed were two basic things ... Trust in our representation and the patience to wait for the pre planned result' ... some people simply ~ "smarted" ~ themselves out of the possibility to change their financial future ... the recoveries awarded back to the debtors estate from the FDIC-R, will be unbelievable' ...
This was the literal one time event of this size, since the great depression, in the 1930's, that the 1934 Acts mandated protections were put to use' ...
Again, when everyone else was running for the doors ? ~ the hedge funds were smellin' a giant golden financial future result ~ all tied up in a nice legal bow and with the US Government and its mandated procedures all the time backing them up legally ' ...
Weil couldn't file that BK fast enough upon seizure which actually protected all of the assets seized by the FDIC the day before since THEY' DiD NoT have to be disclosed to the Bankruptcy Court up to and until the PA&A terminated ...
The creditor classes got paid with WMI's cash on hand' and the tax returns (the 7 billion) and the PA&A kept everything at bay until Sept 2014 ... some 3 and 1/2 years after the fact and into the future' ...
... This was pure and simple Absolute Genius ~ and Mike & the Susman group kept us involved within the future result'
AZ
... The Bankruptcy Needs to Wrap Things Up ...
The Federal Judge (JMW) and the Federal Bankruptcy Court need to wrap things up prior to "R" returning to our debtors estate' ... or' basically to all and every debtors estates ... it's what they do'
The FDIC procedures are distinct and actually explained quite well within their own publically provided website ... I didn't write it ~ I only read and studied it' ... because I am invested ? so I am extremely interested ...
Watch the Bankruptcy going forward ... its future actions will give you an insight as to when R' will begin to settle with the debtors estate ...
I believe it will be soon, due to 510(b) issues within tranche 5 of our pre determined pay out matrix'
AZ
... BK, Do You Know What Else You Can't Do Anything About ? ...
From BK
but there isn't a GD thing that I can do about it
... LG & Bob, No' Coincidence Here' ...
As LG has said for years now, ... the timing of these issues is no coincidence ... In my opinion, something is coming and as Bob said, Soon & Big' ...
There is absolutely NO reason for anyone to believe, that the FDIC will treat this particular, WaMu's debtors estate any different than it has treated, any of the other seized entities estates that the FDIC has been involved in' ... none'
rosiiie's filing last night that there has been an agreement' surely looks like the bankruptcy side is wrapping up'
the unprecedented 6 year long PA&A agreement they utilized, kept everything at bay for quite a long while, however, that contract has now since terminated ...
... many things should begin to break loose for all of the WaMu longs now, regarding both the Trust Markers beginning to receive returning dividends' and the new company WMIH, within its moves forward ...
AZ
... Hey Boris' ... Happy Holidays ...
Long time no talk' ... my apologies in advance, However, I'm thankful to say, that work has been keeping me quite busy ...
Yes, we are in fine shape as we have now progressed to this future point in time as planned by the presenters of Plan 6 so very long ago' ...
The request for the Examiner by Susman was an absolute legal genius move on his part at the time ~ now looking back on it ... talk about a win for us (equity) either way ... a win, had he reported ? and a win had he not been able to ... footnote 39; just tells the story ...
Was the GSA "Fair & Reasonable" ? ... well, it surely looks like it ... when one takes into consideration the future R returns to a debtors estate'
Did the Disclose Statement explain in proper fashion, the separation of the seized assets, held by the FDIC from what was allowed to be disclosed within WMI's bankruptcy accounting ? well, it sure looks like it ...
Well Happy Holidays
AZ
... LG' is Right on Point ...
I am unfamiliar with many that post, however, the Disclosure Statement, Itself ~ regarding the accounting of the subs' ... literally, debunks ... any alternate or negative theories presented here' to the contrary' in that R' will procedurally return dividends achieved back to the debtors estate' ...
The Disclose Statement, stipulates to the fact that,... the evaluations of the subs were not allowed to be considered by WMI's BK Court or in a position to be accounted for ~
The open PA&A would NOT have allowed for these assets and or returning cash to be calculated until such termination of the PA&A between the FDIC and JPMorgan of course ~
LG is following the sequence of events as they have occurred, the filings, the documents, the procedures, and presents an honest evaluation of the existing events as they occur ...
AZ
... I meant right of the comma' ...
I surely did not mean to cause a ruckus' ... 9 digits right of the comma ~ is how us hillbilly's look at things ...
So, let me say, as clear as I know how ... I believe we are looking at, FDIC-R' dividend returns to the debtors estate (ie; the holders of the transitional issued Trust Markers after their timely release') ... of returning dividend sums, back to the estate, in the BILLIONS' ...
Yes, I said ~ Billions ... 9 digits after the comma' ... I also believe that the minimum amount to be returned to the debtors estate by the FDIC-R, will be in the neighborhood of 27 Billion dollars ... again ... I say that is a minimum' in my opinion ~ it is very possible that we will exceed that number' ...
Interest calculations over the last six years are also to be considered ...
Personally, In early 2012, right after mediation, utilizing the 70 / 30 initial ratio's and with the exclusion of APR' ... I calculated my own return on investment to be sufficient at ONE TIMES PAR' ... roughly 10 Billion ... I am good as gold there' however, Now ? I do believe we will exceed that by a multiple ...
... I hope I was clear ... and didn't mean to be confusing at all'
AZ
... Too Much ~ Cloak n' Dagger ...
LG and Boris, are correct ... how about someone try and convince me, that this one time, historically, that the FDIC-R will completely ignore it's 1934 Act Mandate and disregard its obligations to finalize this particular debtors estate. Just this One' ... Out of the hundreds of estates completed' ...
This is a mandated procedure, R will distribute returns back to the debtors estate as it has and continues to do so within all seized entities ...
Our own Disclosure Statement explains how and why the assets of the subs were not earmarked to be accounted for within WMI's BK financial disclosures ...
OTS / FDIC seized assets were not able to be a bankruptcy calculation ... future tense, the PA&A remained open until recently ... 9/2014
... The dividend returns from R are going to happen, and the recipients of this particular debtors estate are the holders of the trust markers for those that released as instructed to do so ...
There are many trust markers held by other than retail shareholders ...
In my opinion, after a six year long accumulation, these returns are quite large ... Yes, 9 digits ... Easily'
AZ
... You too Brother' ...
... I gotta run ... actually, its hard enough to keep up with one board, let alone two' ... (I still work') ... however, it has always appeared to me that there was also a great bunch of folks over here also' ...
... let me say this, ~ in my opinion, LG has the best handle on the legal sequence of events as they have occurred, and BBob is worth his weight in gold with his common sensical approach and views ... Tanj ~ is super' smart and doesn't post here near' often enough ...
again, Happy Holidays to all
AZ
... Honestly, regarding the buildings etc ...
I don't or I should say, no longer see those particular items, as any big deal ... that's not what AAOC was after ... IMO, small potatoes and probably all distributed properly and within the guidelines of the law' ... I doubt there is anything illegal that anyone can sink their teeth into ... no big deal'
Watch for roseiy to be directed to "post to close" the BK ... Procedurally ... R' won't return to a debtors estate while the BK's Federal Judge & Court are still involved ... theres not much left within the BK, ... we should learn more as we approach the 23rd'
AZ
... Happy Holidays ~ My old friend ...
... I am VERY pleased that you will be with us all at the final of this deal' ... for the longest time I didn't see you posting and had no idea that you were over here on this board ...
Bless You, my friend and, as you know, I always wish you the very best ... I know you got hit extremely hard ... back when, ... but from me to you, I'm glad you got up and dusted yourself off and got back into the ring' ...
I posted a simplified sequence of events over on the other board that seems to be helpful to the folks ... check it out when you can ... (Susmans request for an examiner was pure legal genius and the disclosure statements explanation of the mechanics they used, impressive to say the least .... anyway' )
Actually ~ Happy Holidays to all of you all' over here on the hub' ...
AZ
... Guys' I don't post here often ...
However, for everyone involved, a revisit to the disclosure statement is a very interesting read ...
A separate issue from of all of the recent research done on the findings regarding, JPMorgan only receiving the servicing rights, WaMu's operations' as they themselves (JPM) state', of the extensive WMI loan file' ...
... The disclosure statement' itself, stipulates to the legal mechanism utilized to accomplish the debtors estate not having to be in a position to disclose WaMu's assets of the subs within any of the BK courts financial disclosures ... A to a ...
The open 6 year PA&A kept all assets seized by the OTS / FDIC, at an arms length distance, from any of WMI, the parents bankruptcy financial disclosures ...
Creditor classes all paid with WMI's own cash and tax returns ... While, all the time, the FDIC held all of the goodies initially earmarked for AAOC had Plan 6 been approved, safely kept within the FDIC's procedures regarding a seized entity ~ and no need for accounting while the unprecedented 6 year long PA&A stayed in tack' ...
(again, luckily 6 failed and equity was included with the approval of 7)
absolute legal genius at a minimum'
AZ
... Here You Guys Go' re; the WaMu Tower' ...
You guys can review this if you want ... I don't find this information very interesting, other than the early connections to Blackstone Capital Partners' ~ just prior to the 2008 seizure ... I found this when reviewing Trusts' ... I don't see this as any big deal ... "Equity Office Properties Trust" is a sub of Blackstone' ...
Here's a partial' list of a few of the buildings owned by Blackstone in downtown Seattle' and Bellevue' NBD ...
What is a big deal though is' ... Yep' it's true ~ I figure a minimum of a (2.7 posit') ... I'm like LG ... I surely do luv my markers ...
AZ
-------------------------------------------------------------------------
Blackstone/ Equity Office downtown portfolio
Seattle CBD:
1111 Third Avenue
Columbia Center
Nordstrom Medical Tower
Second and Seneca
Second and Spring Building
Washington Mutual Tower
Wells Fargo Center
World Trade Center East
Bellevue CBD:
110 Atrium Place
City Center Bellevue
Key Center
One Bellevue Center
Plaza Center
Plaza East
Symetra Financial Center
Source: Equity Office Properties Trust
... Blackstone owned the Tower ...
Blackstone via one of its subs, owned the tower at the time of seizure ... WM leased space back'
... Not a big thing, in regards to the size of R's future returns to the debtors estate anyway ...
AZ
... That' Day Will Come Soon' ...
... "R" will NOT insert itself into a returning receivers or debtors estate while the parent has an open and ongoing bankruptcy ...
"R" will begin once WMI's bankruptcy issues finalize ... that should not be too much longer' ...
When the powers that be decide it is time our escrow will be filled
"powers that be"
... Hello Boris and Thank You ...
I hardly post any information here for the reasons, that all of you know ...
Simply Put' ... Mike, not only accomplished a tremendous amount of future issues for equity ... (obviously) ... and, along the way, upset many of the playas' ... remember' he only held common stock, uq's ... and as we now know, Plan 7 allows for even the uq's to participate'
Happy Holidays to All'
AZ
... I Won't Argue, I'm Right ...
... I know the reasons, the motivations, and who the distractors are' ... your posts are well prepared, however, quite lacking in the true and proper presentations of the events as they actually occured' ...
... The documents are specific and posted' ...
AZ
... The Trust Markers and Their Recovery ...
... these discussions revolving around the Trust Markers future recovery and their recipients receipt of return funds are bothersome to a few due to the simple fact that, ... these returns validate the extreme amount of work that Mike & Ed did for all equity holders within the mediated result at the end of 2011 ...
... Many are still bothered by the accomplishments of our equity team within those forced mediated meetings and the end result, now realized by us all ...
To acknowledge the validity of the markers and their returns ... validates Mike and what he did for all of us equity holders ... that simple fact continues to bother many, that were against ... not only equity being included at all after the demise of plan 6, but then the removal of the absolute priority rule ...
The angst toward Mike is deep and real ... the documents show what was done for us all ...
The relevant documents have all been presented to all of the people that are interested and hold a stake in this' ...
Just for the record, ... I also hold a very large position in WMIH the new company and have every bit as strong beliefs in the upward future of WMIH as I do in the future recovery of the markers'
Happy Holidays to All'
AZ
... Boris' ... This is Direct From the Site' ...
... I thought I would put this out for you and others to read, this is directly off of the FDIC site regarding the finalization of its responsibilities ... Now, as nranger asked, earlier, I of course can not be sure, however, I do believe we are close ... I emphasized the following sentence from the text ... GLTA'
"While a receivership's average lifespan is three to six years, some may require longer time frames to conclude"
Notes to Financial Statements:
"1. Basis of Accounting: The FDI Act authorizes the FDIC, as receiver for a failed insured depository institution (''receivership''), to administer and conclude the affairs of such institution. Financial statement presentations are based on the premise that the assets of the receivership will be liquidated and proceeds distributed to the institution's creditors over time as provided by applicable laws and regulations. While a receivership's average lifespan is three to six years, some may require longer time frames to conclude. At the onset of a receivership, the failed institution's financial records are reviewed and restated to establish a new basis of accounting. The assets and liabilities of the failed institution are adjusted to remove all estimated losses, accruals, and deferrals. These adjustments include loss allowances; partial write downs; prepaid, deferred or accrued expenses having no recovery value; and accrued or deferred income. Restated balances are shown under the Inception Balance heading of the Statement of Assets and Liabilities in Liquidation. After inception, FDIC's liquidation valuation and measurement practices, as described more fully in the paragraphs that follow, are adopted for all assets and liabilities. In general, transactions are recorded when cash is received or disbursed. Accruals may be used when prospective cash flows are probable and reasonably estimated."
... Only My Opinion ~ ...
I believe "R" begins to finalized within a short period of time ...
so any day to a few more months ... the hard "waiting" is over ... In my opinion
AZ
... nranger .. great question
Since the PA&A allegedly closed in September how long a wait do you think it will be until tranches 5/6 are worked and we will see some escrow in our accounts?
Thank you for all your DD.
... "Trust Markers" Are Independent of the Bankruptcy ...
Individual Trust Markers received' ... are a product distribution of the original debtors estate' ... They are independent of the Bankruptcy ...
... This functions' in the same fashion as "Attachment H" to the Plans Confirmation ~ or as we refer to as the PayOut Matrix ... Equity class 19 and 22 currently being within Tranche 6 ...
... Attachment H' or the PayOut Matrix is Plan Directed ... NOT bankruptcy exclusive, in the same fashion as the Trust Markers ...
The Bankruptcy can finalize without effecting the Plan of Confirmations original intent' ...
Hope that helped'
AZ
.. Well? Regarding the Sequence of Events ..
After a thorough and objective study of the sequence of events and the correlated filings and documents to support each and everyone of these forward moving events, posted, to this and another message board for all to review. What many believe to be the factual truth has been presented in a proper and respectful fashion .... with, supporting links to the information, etc
Personally, I began with questions regarding Plan 6 ~ what it entailed / who was set to gain / and then moved forward inch by inch after "Plan 6" was denied, and in my view ~ this was going to have to settle or else' the whole time' ...
... Again, and in my opinion, ... I see the past events, or what brought us to this particular point in time, as very relevant, due to the fact that all of the same groups are still involved within our current newco' ~ and' ... all of those same groups that told us equity was worthless, are still here' and would luv to have each and everyone of equitys shares in WMIH ...
Now, of course, we' (retail holders) can not predict the future, however, we' (retail holders) are in a position to, at a minimum, understand the past and be careful as we move forward on a daily basis, watching the now ... newco shares, ... be manipulated to such extremes'
... In my opinion, at this point, it is up to an individual to review the presentations and make up their own minds ~ regarding, the powers that we deal with both presently and during the past events, dating back to roughly 2008' and forward ...
I guess' ... obviously, I have searched due to my own questions and curiosities and due to my own cash' investments, ... pre seizure / during the BK / and then after the transition. Ultimately, I have convinced myself that by following ... true equity and its representation, ... that I have made the best possible decisions regarding my own investments within the information made available ...
So, in closing ... I agree that it is useless to banter on an internet message board at this time ... the information has been presented' ... I have obviously convinced myself and I am very hard to impress ~ especially when it comes to money' ...
My DD begins and ends with the filings and disclosures ... I enjoy reading these boards, because I enjoy reading anothers opinion on any issue, ... however, ... I won't spend 10 cents unless, I have then convinced myself with additional solid information ...
Anyway, ... again, the information and supporting documents have all been presented' ... There are no more ' ... "it is what it is" ... I will leave you all to your own individual conclusions' ...
My' very best to all retail investors, that have become involved ...
Thanks for allowing the long post, ... I'll check in ~ from time to time ...
AZ
... BK, That's Just NOT Correct ...
... The documents do not support your stated interpretations, ... However, I will repeat your own words' ... as below'
Good Luck to Everyone'
AZ
believe what you want, it is your right and privilege
At the time of the Abandonment motion, and Abandonment, the creditor provision was a 'time preference safeguard. The Plan's Effective Date, later, executed. The Plan is embedded with the GSA. The GSA releases the creditor claims, the DC WMI Action, against the FDIC
... I saw your particular questions earlier ...
... honestly, I didn't see your questions as relevant, to my view and conclusions of the forward moving, issues at hand' ...
1st; ... Personally, I don't see a need to contact the Liquidating Trust, ... Now would be too soon anyway', if contacting them becomes necessary at all into the future ...
2nd; ... Again, same answer ... "R's" ... actions' moving forward will be procedural ... business as usual' ... irrelevant of WaMu' ~ or, generically' ... irrelevant of whether or not the estate / any estate' ... actually has a liquidating trust... "R" will do what it is supposed to do within its own dictated procedures' and in my opinion ? without any prompting' ...
~ If "R" does need prompting ? or a subtle reminder ? ... then the claims mechanisms are well noted and in place within the Plan, the Confirmation Order, and the GSA ... ~
AZ
(1) Contact the WMI Liquidating Trust and ask if the Liquidating Trust has any "creditor claims" as filed in the DC Action remaining "after the Effective Date" of the Confirmed Plan including the Global Settlement Agreement?
OR
(2) Contact the FDIC-R and ask if the Liquidating Trust has any "creditor claims" that have been "certificated" against the WMB Receivership.
... Many Are Asking The Same Question ...
... After catching up on the postings this morning, I believe an attempt at an appropriate answer is justified; ...
As this relates to the newco' WMIH; the questions seem to be directed toward ...
"if the Trust Markers" are already locked down then why does there need to be a discussion ?" ...
I see that question as extremely relevant to WMIH and current events' ...
Our debtors representation' throughout the bankruptcy proceedings' ... spent countless hours and court room appearances and representations, attempting to prove to an unwilling audience, that the shareholders equity, assigned to WMI the parent, (class 19 & class 22) were of zero value ...
... Our debtors representative' ... within' his continuous attempts to diminish equities value to a zero level' ...were misleading at best' regarding equity's valuations ... I believe, that has become quite obvious at this present day'
So, in my opinion ... shining' a bright light on the trust transitional events, is directly related to the current manipulated trading of our WMIH stock, prior to what the plan and the future is to hold, once an announcement for the future is made ... I am hoping all have been in a position to hold on to the best of their ability'
WE' ...(equity shareholders) had value then ? and WE' ... (equity shareholders) have a future value currently' ...
For the record' ... the filings I posted were NOT snippets' ... the filings were time dated, complete, signed' appropriately, and labeled accordingly'
ADDED; I strongly believe an understanding of ... how we got here ... is important to be in a position to understand our future possibilities' ...
AZ
... Here are the Filings in Order ...
... these are the filings regarding the stock abandonment as they progressed through the case ... the only one that matters is the final filing ... #9901
... The final filing #9901 ... dated 3/16/2012 gives the correct answer to everyone's question / 1st paragraph ~ "provided however;" ... etc ~ ... reading the literal text for ones self should be the path followed' ... seems like memories' can be in error'
AZ
Filing # 9901 ............ Dated 3/16/2012
http://www.kccllc.net/wamu/document/0812229120316000000000016
Filing # 8629 ............ Dated 9/19/2011
http://www.kccllc.net/wamu/document/0812229110919000000000001
Filing # 8426 ............ Dated 8/10/2011
http://www.kccllc.net/wamu/document/0812229110810000000000023
Filing # 8135 ............ Dated 7/11/2011
http://www.kccllc.net/wamu/document/0812229110711000000000013
Filing # 5885 ............ Dated 11/12/2010
http://www.kccllc.net/wamu/document/0812229101112000000000029
... I Posted the Signed ~ PA&A Agreement ...
A few days ago, I posted the, signed by all parties, a copy of the original PA&A agreement between the FDIC and JPMorgan ...
Point 13.12 within the agreement' .. stipulates that on the sixth anniversary of the seizure of the bank (WMB)~ the agreement between these two ... The FDIC & JPMorgan .. "terminates" ... again, the posted document is signed by all parties'
Here is the link to the document again, for anyone that missed this'
https://www.fdic.gov/about/freedom/Washington_Mutual_P_and_A.pdf
(it is what it is')
Oh and P.S ... 3.1 is also interesting ... "servicing rights ?" ...
AZ
... BK, We Agree on Many Issues ...
1st; .. Thank you for your response' .. I believe we agree on the basic outline of the issues at hand, ... etc;
However, I also believe, you and I begin to separate with two major issues ...
One, is that I am convinced through numerous documents filed and readings (please excuse me, however, the research is extensive and mostly presented on a different MB) ... is that in an effort to maintain the public continuity' (which would have been procedurally correct) JPMorgan was given the servicing rights only to the WMI Loan File and also for the same reasoning, in a position to purchase the Visa File' ... the take over of the branches, etc etc ... that all makes sense' (again, right or wrong not coming into the conversation')
Two, is that I firmly believe, now, that the financial crisis within the US has dissipated a bit' ... is that "R" will do the right thing and distribute back to the estate' ...
I am sure you and I could have a lively conversation in person'
AZ