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The Depository Trust Company
IMPORTANT
PREM ELIGIBILITY
B#: 0684-06
DATE: December 22, 2006
TO: All Participants
CATEGORY: Reorganization
FROM: Diane Palermo and Joe Clemente
ATTENTION: Officers/Cashiers/Corporate Actions Management
SUBJECT: Escrow Positions to Become
PREM Eligible
DTC currently maintains positions resulting from mandatory corporate actions in Escrow CUSIPs created to
represent participants’ positions for potential future distributions. Since many of these CUSIPs may never
make an additional distribution, participants have requested that DTC make provisions to have these issues
made eligible for the PREM function on PTS/PBS; thereby allowing participants to take those positions off
their books and records.
Effective January 2, 2007, DTC will enable all existing Escrow CUSIPs, created as a result of a Mandatory
Corporate Action, to become PREM eligible. This will allow participants to PREM their positions in those
issues. Participants are cautioned that positions in these CUSIPs incur a long position surcharge of $0.17
per month. Once an Escrow CUSIP has been PREM eligible for six years, it will automatically incur a long
position fee of $7 per month. All of these charges can be avoided by using the PREM function to remove
the position at your earliest convenience.
Should any of these CUSIPS actually distribute proceeds, DTC will reverse the PREMed positions and
credit the participants appropriately.
Regards B
Bizreader,
Not really sure of your intended meaning.
Regards,
B
Bep28 Yes
As I have also contended the 24 billion is the recovery for Equity. I do not believe there is billions outside of what is stated in the WMI estate that will available to former equity. From my research I tend to be more aligned with that of Az's research by the time we have fee's and cost deducted and interest added back, if former equity P,K,Q sees recovery I believe the lions share will come from this entity.
Regards,
B
"as the process moves forward to completion, ... “everyone”, is obviously NOT going to be pleased ."
Ain't that the truth...nice job as always.
Regards,
B
Hi Az
Nice work as always but its the process always not the dates.
Regards,
B
DTC How it works Escrow shares
This may help clear up some confusion on the process.
Security Position Reports from The Depository Trust Company (DTC) provide issuers, trustees and authorized third-party agents with valuable information on the position holdings of DTC participants in the issuer’s security as of a specified time period.
Distributions Service Guide 11
ANNOUNCEMENTS
How Announcements Work
• DTC retrieves information on dividend and interest payments from various sources (see Information Sources)
• DTC distributes information electronically in advance of the dividend or interest payable date. This helps you reconcile your records with DTC before the payable date. Event information includes but is not limited to:
o Corporate Action Event ID (CA ID)
o CUSIP number
o Record date
o Ex date
o Payable date
o Due bill redemption date
o DTC position capture date
o Security rate
o Cash rate
• Under the CA ID you will see event level information. Every event has at least one option. Options indicate what is available as an entitlement to eligible holders. Examples of option types include cash, securities or a mix of both. For events offering multiple options, elections can be made. In the case of Distribution events where elections can be made, there will be both a default option and one or more choice options. Within every option there will be at least one payout. A payout should be considered the actual entitlement. Entitlements can include:
• Cash
• Interest
• Securities
• Dividend reinvestment
• Long and short term capital gains
• DTC provides its participants with information pertaining to their event record-date positions through the following delivery mechanisms:
o Corporate Actions Web
o Participant Terminal System (PTS) functions
o Participant Browser Services (PBS)
o Computer to Computer Facilities (CCF) file transmissions
o ISO 20022 Messaging
o SMART/Search
o Important Notices, as necessary (available on our Web site at http://www.dtcc.com/legal/important-notices.aspx
Security Types
DTC announces corporate action events for security types including but not limited to the following:
• American depositary receipts (ADRs)
• Asset-backed securities (ABS)/Mortgage-backed securities (MBS)
• Collateralized mortgage obligations (CMOs)
• Corporate bonds
• Equity issues
• Equity derivatives
• Exchange-traded funds (ETFs)
• Money market instruments (MMIs)
• Municipal bonds
• Municipal variable-rate demand obligations (VRDOs)
• Private placements
• REITS/Partnerships
• Sovereign debt
• Unit investment trusts (UITs)
The following distribution events are covered in the functionality described below:
• Cash dividends (including foreign tax relief, tax reclaim, special dividends, voluntary dividend reinvestment including opt out and increase on shares)
• Interest (corporate, municipal and sovereign debt including tax relief)
• Principal
• Capital gains (short term, long term)
• Sale of rights on ADR securities
• Return of capital
• Dividend with option
• Stock splits
• Stock dividends
• Automatic dividend reinvestments
• Spinoffs
• Rights distributions
• Pay in kind
• Liquidation based on record date holdings
• Tax Events
There is reams available http://www.dtcc.com/settlement-and-asset-services/issuer-services/security-position-reports" rel="nofollow" target="_blank" >http://www.dtcc.com/settlement-and-asset-services/issuer-services/security-position-reports
[tag]DTCC[/tag]
The whole section on Reorgs and the DTC is really informative as well.
Regards,
B
I put little to no significance on the date. I believe we are getting closer to wrapping this up however I would not hang to much value on the date. JMHO
Regards,
B
P.S I hope I am wrong, but do not hold any hope for a final resolution on the 26th probably just a few more "tea Leafs" to read
Thanks for your reply. I know one thing is delay delay and more delay seem to be the trend but as in all things there will be a end except one thing and that has nothing to do with this world except to be its only saving grace. Keep smiling pard and may we all see restitution in our life times.
Gods speed BBANBOB
B
I have been intentionally gone from the board accept to read a few well researched posters . Well I am Glad Griffin is OVER! She reminded me of the kid in class that kept asking silly questions and wanted to argue with the teacher whom had already assigned the final and everyone just wanted to wrap it up a finish the year! Glad that pa-lava is over ....lets please move on from that charade.
Charade regards
B
BBANBOB,
I was not there, nor can I lend a lot to the argument of the case. My response was to Mordi saying AZ was wrong. The district court of appeals does not have to here the case. The only way to be heard if the appellate court finds the lower court erred. Other than that they will not consider new info or anything else the will only hear the case if they find Judge W erred in the case. I am just very suspect of the timing. Her past even with the old HOT COFFEE burn trick really does not sit that well with me either...kind of seems Trip and Fall which is a bit low for me.
And yes pard we can always disagree as the river runs to deep to let pebbles disrupt the fine waters we share.
Regards,
B
ONLY IF THE LOWER COURT ERRORED DO THE HAVE TO HEAR THE CASE
Appellee
The party who files an appeal, known as the appellant, must show that the trial court made a legal error that affected the decision in the case. The appellant prepares a written document, or brief, discussing the legal arguments. In the brief, the appellant tries to explain that the trial court made errors, and that its decision should be reversed. In this process, appellants cite previous court cases that support their point of vie
THE RULES REGARD
Courts of appeals do have a right to refuse to hear an appeal if in the opinion of the court there is no substantial or real ground of hearing appeal or there is no use of carrying out the whole process of appeal.
Sorry Regards,
B
In the Game and in the money.
Regards
B
Lodas
We hope! However its kinda late in the game and that is what is suspect. Ok so lets say she opens this all up and the litigation starts as they are entitled to due process and with all these heavies they will put up one massive fight protracting this for years and years.
I personally feel we are really late to a pissing party and all the buckets are full, so I really feel like we are going to be pissing on our own shoes. Lets hope this does not hold up the rest of the show cause in the end we are talking about something so unheard of to turn all of this transparent that it would be unprecedented. In the end it will make a negligible difference ...as far as the WMILT is concerned ....
Its better to have half a loaf then No Loaf of bread.
Respectful Regards
B
Stoxjock,
Will see but I give it a chance of about 0.1.
Regards,
B
Freaky days
Its seems quite ODD to Me That just or before Griffin started down this road we see a massive tank in the stock. Is it just me or does this whole set up seem all to coincidental. Here is a newly merged Co getting cut in half and not a peep!
This just seems like the whole frigging enchilada is inside out and the dog is now walking backwards. I am holding on to my six range now as this chit gets more suspect each day. Way to much going on and all of it seems way to odd to be normal. Retail is getting crushed on purpose and I think they are gonna make retail puke their guts out before they pull back on the stick...Way to many institutions in this OR WE ARE WATCHING THEM BAIL IN SLOW MO.
Upside down inside out, and the dog is walking backwards speaking in tongues.
B
Wamugold,
I see it the same way. I have researched off the clues of Az & Ron and I see it the same...
Concur regards,
B
special paying agent to assist with subsequent distributions as in the DTC?
Makes sense as they and Koutros would qualify.
Regards,
B
If Escrows do make a sizeable payout per those who have released in all three flavors It will most definitely Eclipse all of my holdings in now Coop. I have to give it to the bastards, the reverse split, constant grind up grind down have they have effectively diluted my arse so many times I feel Like I am inside out.
If a released marker holders got say
3 per Q
10 per K
500 per P
I my shite my pants. I wish I had a formula but I guess I could be light based on those trusts ...will see.
Regards,
B
Yes AZ helpful and thank you ...I have a bit more follow up on this but I am getting there Thanks again. Got to fly for now got Ice an snow to remove ...got to love Midwest in April
Regards
B
"The focus should be upon the "Account" that the WMI-LT Does Not Consider to be an Asset' ... " Az, as I posed a question to you earlier yesterday why do you want to lend attention to The account WMI-LT does not Consider to be an asset. Is this because its really an obligation or a debt owed to its rightful equity owners ? Or is because it is safe harbored.
Regards,
B
Basically yes as rightful owners and as recorded released marker holders the monies will flow accordingly to those parties. I believe that the current Griffin filings are a side show.
Regards,
B
I appreciate the sequencing of events Ron. Thank you.
Best Regards,
B
The Trusts, The WMILT, Assets Rosen, Griffin & Safe Harbor
Much discussion here I believe is being misdirect in the discovery of assets.
.The Assets DO NOT LAY IN THE WMILT in my research period.
.ROSEN CAN ONLY SPEAK TO WHAT IS RECOGNIZED INSIDE THE BANKRUPTCY.
.ROSEN CANNOT SPEAK OF NOR DISCUSS THAT WHICH IS OUTSIDE OR NOT PART OF THE DEBTOR PROCEEDINGS..period.
Now what does Rosen speak to in his most recent filing in answering Griffin Objection
AZ,
As the the The Filings by Alice Look to be headed no where and the cases should all be wrapping up shortly Do you see the "tell more evident in the recent downward movement of the Coop S.P.?
In looking at the cutting in half of the S.P of Coop It appears the blocking Mechanism is being played for an accumulation of stock For what I am unclear, but the timing and price movement seem a bit coincidental?
Any thoughts would be appreciated as to this massively oversold condition and how it may or may not relate to The release of the Trust's back to their original ownership chain?
Regards,
B
'intuitive3'
I think the leaks are many and the manipulation hard so they will do as they wish as I have maintained 6ish to 8ish is the bottom and the way it looks like now its going to 6.30 ish. We will see but when the time comes they will cover hard. After all they have to fill they pockets. IMHO
Regards,
B
HOTMEAT ITS THIS POST 569109. I THINK YOU MADE A ERROR, OF COURSE YOU CAUGHT THAT sooooooo what were you saying about Funny? Now whats funny your error in saying that what a joke my reply was or your error as to going of HALF COCKED
Wow HOTMEAT!
I wont bite! You are concluded in your being! Thanks for your reply it's...... telling.
All the best
B
Zeus,
Ok. I get your opinion and analysis. I have come to a different set of hypothesis. Are you trying to help a big guy like me from being let down? We'll if you are then thanks for your thoughts> I got really big legs and am really strong so win loose or draw I will be ok. Thanks for your thoughts.
Regards,
B
Hotmeat,
I think Az promoted (as you say ) just yesterday or the day before.....Hotmeat. I get you do not agree ,however why so up in his grille about it? It is just what he believes and is sharing. I value yours and many opinions and am big enough to discern for myself.. With all do respect you do not help your cause by attacking! Just keep putting your analysis forward and people will take it, or part of it, or leave it...I guess I do not get why he p.O's you so much..
Just my opinion
Regards,
B
Royal,
I always appreciate your maturity and candor. It always is a sign of a deeper, richer person of quality when posed with a differing opinions they can contemplate them without the need for reprisal or attacks of a personal nature..Hat tip of the day and I do agree the dissension and the attacks among the faithful are disheartening and by some aspects.... by design.
Best Regards,
B
Royal
I hope I stand corrected! I think super lawyers are aware that no Pandora box is gonna be opened here. IMHO the proof or Not is already baked in and this late in the game the best we can hope for is that truly the trust and Bk Remote assets truly exist and will return to former released marker holders. I think we are a day late and a dollar short for any big changes that are not already baked in... I hold out little hope and am suspect of the flurry of motions and the timing especially now. I hope I am proved wrong I just do not see it!
Regards
B
Your prerogative however IMHO short sighted .....Highly well read and researched analysis is never wise to ignore ...all the same its a free country.
Differing Analysis makes adds to informed decisions.
Regards,
B
I think we just see the wording differently and the documents dating back to 2012. I do thank you for your read and appreciate the time and response.
Regards,
B
Hotmeat but what do you get out of OUTSIDE THE TRUST? IF it is outside of the trust thrust would not count it on the ledger. It is either accounted for in the trust or not included as a trust asset because it is outside the trust.
Regards,
BN
Hotmeat,
I like differing analysis so how do you accommodate the following?
"A dismissal of disputed equity interests will result in a distribution to common shareholders of Reorganized WMI consistent with the allocation of, and manner of distribution of, common shares on the Effective Date. The shares and any cash that may be distributed on behalf of the shares are held in a separate escrow account that is not recorded as an asset of the Trust"
Just asking for your analysis not attacking.
Regards,
B
Jerry
Yes he is it may be used as a pass thru mechanism but the trust were never part of the BK as they were outside.
Regards,
B
you only loose if you quit! Stay firm and step in with both feet sub 8$
Regards,
B
JUSTCHILLIN with out picking on you please re-read what he said know your docs what did AZ say" Yes, ... per the WMI-LT itself, The “Disputed Equity Reserve” ... Any Cash, and the reported Common Shares, which is not considered to be an asset of the WMI-LT, ... belongs to the original wamuq’ WMI releasing Class 22 Participants ... "
NOW you should be able to answer your own question!
Regards,
B