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We are going to get paid. Class 19 Series R are Non Cumulative (“Perpetual”) Conversion Preferred Stock. Also any Dividend Distribution is only Taxed 15%. They Know Exactly what They are Doing!
That will never happen. China is a Subsidiary of the United States.
United States(DBA) Doing Business As, “China!”
Don’t support Communism but Everything is from China.
I believe it is! I DO NOT BELIEVE ANYTHING THAT COMES OUT OF THAT BOX! How Else are they going to Continue Stimulating the Economy? By Creating the Scare! How many People Do You Know Have Corona Virus? Now how many have gotten the Flu?
The way I’ve been Fighting Corona is by Buying Yuengling Traditional Lager!
Unfortunately for me I don’t believe anything that comes out of that box, aka tv. They have control of the narrative. They Create the Fear to Manipulate the Market.. It keeps the Economy rolling.
Imports and Exports
Medical and Pharmaceutical
Currencies
Commodities
Bonds
Not to mention it’s the third week of the month. Expiration of Calls and Puts.
JB, Be realistic. They just got All Their Ducks in a Row. They Merged All (3) to (1) Preforming Platform and Return to Profitability. I believe they will start giving themselves Dividends next year from this Year’s Gains or just to Play it Safe the following year. Strategically they be Building Up the War Chest and Stacking it with Cash. Ready (the Company) for Any Unforeseen Circumstance, Man-Made or Natural, before any Dividends(Rewards) are Issued. JMHO.
WE JUST TOLD BANK OF AMERICA, “WE’RE NUMBER ONE (1)!!!!
A REALLY BOLD STATEMENT, THAT WENT UNCONTESTED!!!
NOT ONLY DID HE THREW HIS WALLET ON THE TABLE, BUT HE PLACED HIS BIG TESTICLES ON THERE TOO!
I WISH, I WAS PART OF THAT TEAM!
LargeGreen, what I find interesting is that WMI HOLDINGS is still listed as Successor to WMB.
JPMORGAN CHASE is listed first and WMI Holdings is listed in small writing.
Thank you footballref, for the confirmation.
Thanks Bbanbob., for the confirmation.
Good afternoon Board, can someone else confirm that there are no outstanding Series B preferred stock? If so one of the merger agreements was that no dividend will be pay if there is outstanding Series B Preferred Stock and any dividend owed to the Series B Preferred Stock. If I remember correctly KKR’s conversion of Series B Preferred Stock outstanding, now allows for a Dividend distribution. Correct me if I’m wrong.
Yes it was brought up by a poster right after the GM Bankruptcy!
Good Afternoon Bbanbob, I’m not sure if you remember, some time ago on the other board, a regular poster mentioned a Reverse Triangular Merger and alleged that’s what GM, Motors Liquidation and Uncle Sam did during GM’s Bankruptcy? Of course it got refuted, mocked and shut down but It has always stuck with me. I did some research but still laid ignorant to the actual process at the time but now all the pieces of understanding fell into place since we are included and witnessed a process where we are normally cut off in Bankruptcy.
All I can say at the moment is “Wholly Smokes Batman!”
I really hope this is the case.
AZ, you’re a Gentleman and a Scholar!
Bbanbob, you called it. Thank you.
I hope to see you and many others some day soon.
NEXT EARNINGS DATE: MARCH 6, 2020
6 MARCH, 2020
According to TD’s listed information
How the F is he supposed to know? Wait just like everybody else! THE FILINGS STATED BY THE END OF THE FIRST QUARTER! IS IT THE END OF MARCH?
NOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!
ALSO, I READ WMI HOLDINGS IS LISTED AS A SUCCESSOR OF WASHINGTON MUTUAL BANK, ALONG WITH JP MORGAN.
Boarddork, I found information that is interesting it shows that WMBFSB REORGANIZED 3 times
and has had a number of Acquisitions since 2011
Home > Washington Mutual Bank FSB
Washington Mutual Bank FSB
Status: Inactive as of 2008-09-25
Merger - Without Assistance
Successor Bank: JPMorgan Chase Bank
Headquarters: Washington Mutual Bank FSB
6250 North Sagewood Drive
Park City, UT 84098
Established: 1994-04-15
FDIC Insurance: 1994-04-15
FDIC Cert: #33891
Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Total Assets: $46,048,007,000
Total Deposits: $4,809,310,000
History
1994-04-15 Institution established: Original name:Washington Mutual Federal Savings Bank
1995-05-01 Acquired Olympus Bank A Federal Savings Bank (29806) in SALT LAKE CITY, UT
1995-12-01 Changed name to Washington Mutual Bank FSB
1996-11-30 Acquired Utah Federal Savings Bank (28291) in OGDEN, UT
2007-04-27 Moved bank headquarters from LAKE OSWEGO, OR to PARK CITY, UT
2008-09-25 Acquired Washington Mutual Bank FSB in PARK CITY, UT
2008-09-25 Acquired Washington Mutual Bank (32633) in HENDERSON, NV as part of a government assisted transaction.
2008-09-25 Merged into and subsequently operated as part of JPMorgan Chase Bank, National Association (628) in COLUMBUS, OH
2011-05-01 Reorganized.
2011-06-01 Reorganized.
2011-10-01 Reorganized.
2011-10-14 Acquired Custodial Trust Company (25809) in JERSEY CITY, NJ
2015-08-31 Acquired JPMorgan Bank and Trust Company, National Association (58729) in SAN FRANCISCO, CA
2019-05-18 Acquired Chase Bank USA, National Association (23702) in WILMINGTON, DE
Stockssss, thank you for taking the initiative and time to call and finding out, what is for sure valuable information. Not to mention, sharing it in such details that I even enjoyed the music while we were on “Hold.” Lol
A jokes aside, THANK YOU!
You’re welcome and yes your explanation did help. Aaahhhaaa!
Good afternoon AZ,
First and foremost, thank you, for all of what you do. I really appreciate it. I have a question regarding the dividend distribution because to my understanding the Preferred Shares were Non-Cumulative. When they removed the cap on the Par Value and allowed Equity Classes to participate in Plan 7, did they reinstate the past Dividend? Is that information in Plan 7? Also, you may have answered this question already but why was there no mention of a distribution to Class 19, when the Classes before and after received a distribution? Is there a possibility Class 19 will get there distribution later, by the end of 1st Quarter? Thank you for taking the time out of your day to answer my questions, I truly appreciate it you.
Roughly (4) shares and some cash in lieu of fractional shares.
Bbanbob, WOW! After 11.5 years, I got a date right. Lol
Note 1: In addition, the Liquidating Trustee administers the Disputed Claims Reserve (“DCR”). Holders of claims (that have not been allowed) did not receive cash or LTIs as part of the Initial Distribution, and such assets were transferred.
Mr. Simpson, I noticed that as well and instantly, I thought of Bbanbob’s theory of the Preferred Shares possibly trading again. I know it’s just a theory but, metaphorically speaking, the investment vehicles are in their parking lot(s) on idle. Notes, Assets, Agreements, SPEs, & SPVs are All there. All the mechanisms to Fine Tune Themselves for Profits.
Bbanbob, I believe it’s (14 ) business days from the 20th, plus two holidays, my calculations comes up to the 13th of January. I may be wrong.
Why did we get a distribution back in 2015 but are not entitled to a distribution upon closing? What changed?
No not a theory. I read about it Looking up Washington Mutual’s former directors and Employees. Research before you rebutt. Banking, Insurance and Government officials all discussing hiding assets in Safe Harbor Entities.. I know What I Read and it Started with David... There’s your homework. Research... then do what I do, stay shut, mind my business, keep to myself and ride the coattails of the Market Makers.
Yes they are and the rest of Wall Street! Do you remember the Conference Meeting back in 2006? Where they discussed how to hide their assets.... I discussed it back in the days on a Yahoo. When all that God Denke Mysterious jabber was going on.
That’s the narrative but, read the early filings. 1.888 Billion is Registration Fee.
No our LTIs are with the DCR. Read it’s fundamental.
Samurai,
WMIH cannot Buy the Assets Of The WMILT but, Pacific Financial can.
Large, did you notice the dollar amount of mortgages serviced by WAMU ($600 Billion) and now Cooper Group $640 Billion? Too Close in numbers to be just chance.
Bbanbob, that’s stood out to me as well. I’ve read the complete filing twice and I’m going to reread it again tonight, just so I can have clarity and understanding, to a certain degree. Lol
Holders of equity interests who timely returned required releases and documentation were given “escrow markers” to effectuate a redistribution, if any, of shares of Reorganized WMI common stock. Such escrow markers will be canceled after the final redistribution described above.
In conjunction with the final distribution from the DEE and the pending close of the cases, the Trust performed an internal tax review of the DEE. In this review, it was determined that the DEE owed federal income taxes due to the increased value of the shares of common stock that were redistributed in August 2015. In October 2019, the DEE monetized approximately 38,000 shares of Reorganized WMI common stock in order to satisfy the related tax liability. After giving effect to the foregoing, approximately 91,000 shares of Reorganized WMI common stock remained on deposit in the escrow. The Trust has filed returns for the DEE and awaits a response as to any additional assessment and whether related share monetization is required. The Trust will then make its final redistribution, close the escrow and cancel the “escrow markers”.
Also...there’s this disclaimer also:
Note 5: Disputed Claims Reserve
From and after the Effective Date, the Trust retains, for the benefit of each holder of a disputed claim, cash, LTIs, as well as any dividends, gains or income attributable in respect of any of the foregoing.
Read it again... It’s in the writing.. you missed the part where Class 22 is mentioned to receive any final distribution as well. Come on! How are you going to ignore that?
Bite these Apples!
During the quarter, the Trust resolved all remaining disputed equity claim. Therefore, the DEE will be in a position to redistribute the remaining shares, net of any shares that are sold to pay tax obligations. The shares currently held are held on behalf of former common shareholder interests (Class 22). Therefore, any redistribution will only be made to Class 22. Furthermore, consistent with prior distributions and pursuant to the Plan, no fractional shares (nor any cash-in-lieu of fractional shares) will be distributed. Due to the minimal number shares in the DEE, and the fact that the DEE Agreement does not contemplate the issuance of fractional shares or the payment of cash-in-lieu of fractional shares, substantially fewer legacy common shareholders will receive shares in the redistribution.
Holders of equity interests who timely returned required releases and documentation were given “escrow markers” to effectuate a redistribution, if any, of shares of Reorganized WMI common stock. Such escrow markers will be canceled after the final redistribution described above.
In conjunction with the final distribution from the DEE and the pending close of the cases, the Trust performed an internal tax review of the DEE. In this review, it was determined that the DEE owed federal income taxes due to the increased value of the shares of common stock that were redistributed in August 2015. In October 2019, the DEE monetized approximately 38,000 shares of Reorganized WMI common stock in order to satisfy the related tax liability. After giving effect to the foregoing, approximately 91,000 shares of Reorganized WMI common stock remained on deposit in the escrow. The Trust has filed returns for the DEE and awaits a response as to any additional assessment and whether related share monetization is required. The Trust will then make its final redistribution, close the escrow and cancel the “escrow markers”.
AZ is right, we will not be issued any LTIs because, they are already being held on our behalf in the (“DCR”). If my 7nderstanding is correct.
Newflow, That you For this Information. This one paragraph also stood out to me.
Note: In addition, the Liquidating Trustee administers the Disputed Claims Reserve (“DCR”). Holders of claims that have not been allowed did not receive cash or LTIs as part of the Initial Distribution, and such assets were transferred to the DCR pending resolution of claims. Since the Effective Date, the DCR balances have changed due to the disallowance or allowance of disputed claims as well as payment on behalf of LTIs held by the DCR.
To my understanding, our Assets or Liquidated Assets are in the (“DCR”) pending resolution. Once resolve the funds will be distributed to Equity(75%/25%). Just my Opinion.
Zeus, remember this part of the Purchase Agreement? “Assets of the assets, are not part of the agreement.”
Pick, that’s your opinion. I tend to go with what’s in the writing. The writing is Clear, 75%/25% until the End!
Stated by the Equity Committee:
9. To be clear, recoveries for current WMI equity holders are not limited to the
stock of the Reorganized Debtor. Upon satisfaction in full of all claims, interests in the Liquidating Trust will be reallocated to include WMI equity holders entitling them to participate in the recoveries of the Liquidating Trust. This is another potential source of material recovery for WMI equity holders.
NIGHT, TAKE A LOOK AT KKR’s List. of relatable companies. My opinion..
https://sec.report/Document/0001404912-19-000006/kkr-20181231xex211.htm