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Jay, if that is true why are NSM stock holders given a choice?
The address "1209 North Orange Street" in Wilmington, Del., has become known in recent years as the epicenter of U.S. corporate secrecy. The squat, split-level building is the official address of over 285,000 companies, many of which are looking to take advantage of Delaware’s Panama-like secrecy rules, tax incentives, and business-friendly case law.
http://freebeacon.com/issues/delaware-address-home-200000-shell-companies-including-hillary-clintons/
It seems to me this would be costly to WMIH to absorb liabilies without income.
What about cash returns from the LTI.
I don't know exactly you are asking, all escrow holders who were "gifted" WMIH stocks by signing the releases and that WHIH stock is not connected to escrows in any way now and can be bought and sold.
Any future WMIH stock that given to escrow holders will come thru value exchanged (WMIH stock for Assets) and ONLY to escrow holders.
Hope this helps you.
They could do the following?
1. Discount the assets worth by say 30% because the are problem assets.
2. Issue more shares of WMIH. (Dilution)
3. Pay all the cash out to escrows first and let investor/us and the M&M run the price up.
4. Then do the exchange stocks for assets.
They would have to swap evaluated assets for a like value of shares. At $50B (or make up your own $ amount) of assets being traded there would have to be $50B value in available shares. I don't think they could take $50 billion in assets and pay us $30B with shares.
Shares for un-liquidated assets has a relationship to the current share price. If there were 50B in returning assets @ todays price (say $1.00) there would have to be 50B Newco shares available. Now if the price of WMIH was $20.00 per share at exchange time, then there would only be a need for 2.5B available, which it is.
Does this include all of the things held in "Safe Harbor"?
"The POR says that prefs are entitled to 70% of "any Liquidating Trust Interests to be redistributed," but that the judge in her Confirmation Order may specify a different percentage.
And in her Confirmation Order, she did just that, specifying that Prefs are to receive 75% of "any Liquidating Trust Interests to be redistributed"
But this has all to do within the BK just as she shut down our attorneys from bringing into the discussion of Safe Harbor, she and those in the arbitration also has to abide by the same rule by not using safe harbor investments in their discussion. IMHO
and TPG
When she went to the shareholders meeting I remember her saying she heard something in the hallway that she couldn't share just then but would reveal later. See if you can find out what she was talking about. Does anyone else remember this?
Merry Christmas Okies and everyone from a Shawnee WAMUER.
It would seem to me if the other holders in the trust weren't getting paid we would hear about it and there would be pressure applied to to the FDIC to get it done. My wag is that Kosturous has been paying the other investors on a quarterly basis.
Merry Christmas to you and everyone else and we couldn't be better, thanks.
Are these safe harbored trust paying other investors or do they have to wait also or does everyone else get their share when we do?
I'm in
$111.99 PS
Blue, I think I have run across you in a couple of other investments over the years, I seem to remember you as commercial pilot and I held your DD as excellent. My question is how NVTQF work compared to the popular ones(Bitcoin and etc) without a wallet?
If a novice wanted to get his toes wet I need info on how to buy.
I show $1.69 per share left to pay Piers off.
I'm still have $550.00 coming from Piers, so if I receive a payment of 545.00 Piers would still be impaired. I don't know how much $ Piers are due totally.
And here's my 8 ball theory Grant Thorton and ex-employee's court cases left open to absorb any cash above piers. Have some fun.
If the BK runs out of funds and Piers are not paid and then the BK closes this would publicly save FDIC's arse. Then the remote assets settles Piers and the rest goes to escrow.
I guess the big question I have: can assets outside of BK be distributed before BK is closed?
CBA09 would you list the steps that will settle this matter for good, Like does BK have to close for remote asset to be dispersed and any other things that have to take place.
TIA
Good info, keep it coming.
CBA09 What led you to invest in WAMU and did any of your co-workers feel the same way?
"unrestricted corporate cash to fund the redemption". Does this mean the trustee has unrestricted corporate cash that WMIH can use and not involve the escrows. How much cash does the trustee have.
Equifax now has a free enrollment in there security program where you can lock your credit info and only open it when needed. I beleive we will be the hunted when word gets out about our settlement.
https://www.equifax.com/personal/?/
It will be added to your cash account at your brokerage and then you can cash it out, but you already knew this.
This is what my Piers LTI looks like and it is not shown in my brokers account. As far as I know this is not being called at this time, only some of the 13% runoff notes are being fully called.
WMI Liquidating Trust
800 Fifth Avenue, Suite 4100 Seattle, WA 98104
MR Xxxxx Xxxxxx
SHAWNEE, OK 74804
Friday, May 05, 2017
02/01117-05/01/17 Periodic Statement
RE.: Class 16, 16-939322848-00875, VOL T@F5Y037080146
Per the Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter II of the United States Bankruptcy Code, as modified, your Liquidating Trust interest (LTI) balance will accrete at a prescribed rate until either(I) your LTI balance is fully paid off or (2) the Liquidating Trust is fully dissolved and its assets are liquidated and distributed. LTIs are non-transferable. The LTI balance reflects the face amount of the obligation due by WMI Liquidating Trust but does not serve as a guarantee of payment.
Below are details pertaining to the activity of your LTI balance over the period 02/01/17 through 05/01/17:
$544.41 02/01117 LTI Beginning Balance
1.67 02101/17 - 03/31/17 Post-effective Accretion
546.09 03/31/17 LTI Ending Balance
0.90 03/31/17 - 05/01/17 Post-effective Accretion
0,00 Cash Distribution(s) on account of LTIs
$546.98 Ending LTI Balance at 05/01/17
The ending LTI balance does not reflect any adjustments for potential future Litigation Proceeds to be remitted on account of WMI Holding Corp. Common Stock elections, if any.
If you have any questions with respect to your claim and distributions, please visit www.wmitrust.com for general information and frequently asked questions or write to:
WMI Liquidating Trustee
800 Fifth Avenue, Suite 4100
Seattle, WA 98104
Thank you,
William C. Kosturos
Liquidating Trustee
WMT Liquidating Trust
Ask if JPM is keeping any of WMI assets or are returning any?
What I really meant was I want you to ask who is the contact about safe harbored assets.
Who is in charge of safe harbored assets?
You are forgetting TPS
Another more important title
Janice Hearn
Resolutions and Closings Manager
Federal Deposit Insurance Corporation
Janice Hearn
Assistant Director, Claims Administration at Federal Deposit Insurance Corporation
Rowlett, TexasBanking
Current
Federal Deposit Insurance Corporation
Education
East Texas Baptist University
There were 2 runoff notes issued only 1 is being called.
Same to you.