Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
POR 7
Pg. 56 - Treatment of Preferred Equity Interests
https://www.fdic.gov/bank/individual/failed/wamu_confirmation_order.pdf
This has nothing to do with our Escrows. Perhaps actually reading the article would help you with why they're raising this capital.
Still trying to find out which page number this is on? Any idea? I figured you would know.
http://online.wsj.com/public/resources/documents/WM-Examiner-Report-pt1.pdf
TPG Group still has 300 million shares?
As of March 1, 2017, 206,380,800 shares of the registrant’s common stock, $0.00001 par value, were outstanding.
Just stating the "BOBVIOUS".
Is this from the new WMILT 10-K for the period ending 2016?
Piers
2016?
It's no surprise you don't know what year it is. LOL!
2012?
2016?
What in the hell are you talking about?
Which page number is this on?
http://online.wsj.com/public/resources/documents/WM-Examiner-Report-pt1.pdf
Post Marked.
"Something is up..."
"The "market" seems to agree with me"
6 months ago WMIH was trading around $2.30. We're trading around $1.45 now,...and the "market" agrees with you that something is up? Why? WMIH has just rebounded back to trading in the same range it was in trading in a month ago before the recent dip down. That's all.
Exactly.
...and his opinions are outlandish.
KKR is not required to find any deals for WMIH.
From the latest 10-K
Pg. 16
"Neither KKR nor its director appointees are required to present us with investment opportunities and may pursue them separately or otherwise compete with us."
https://www.sec.gov/Archives/edgar/data/933136/000156459017004292/wmih-10k_20161231.htm
Here's the most current QSR.
------------------------------------------------------------------
Docket # 12349 Filed 1/30/2107
"Note
7: Disputed Equity Escrow
In addition to the DCR, the Plan established a Disputed Equity Escrow to hold shares of Reorganized WMI common
stock for distribution based on the resolution of disputed equity interests. 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. The
Liquidating Trustee is the escrow agent for the Disputed Equity Escrow. The Disputed Equity Escrow is taxed in a similar manner to the DCR (see description above). All expenses of administering the Disputed Equity Escrow (other than taxes) are borne by the Trust. Costs incurred cumulative-to-date total $7,500. As of December 31, 2016, approximately 1.5 million shares of Reorganized WMI common stock and no cash remained in the Disputed Equity Escrow."
------------------------------------------------------------------
All this means is that the shares held in the Disputed Equity Escrow are not being recorded as an asset of the Trust. It's not that difficult to understand.
Shares held remaining in the Disputed Equity Escrow - 1.5 million , no cash remained.
http://www.wmitrust.com/wmitrust/document/8817600170130000000000001
The "news" is that WMIH will being holding a CC on March 21. The volume and price spike, imo, could be attributed to traders riding the recent momentum and/or speculators who believe that something of significance may be reported.
The point was to clarify that the Company is still planning to hold a Shareholders Meeting, irregardless to phinhead's belief that "there will not be a shareholder meeting in june
possibly because the news in one week will be that the SPAC WMIH is being taken private".
DOCUMENTS INCORPORATED BY REFERENCE
The registrant has incorporated into Part III of Form 10-K, by reference, portions of its Proxy Statement for its 2017 Annual Meeting of Stockholders.
PART III - pg. 42,43
https://www.sec.gov/Archives/edgar/data/933136/000156459017004292/wmih-10k_20161231.htm
This is from a Conference Call from Feb. 11, 2016...over a year ago.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=128075675
What does all of this mean?
"Those that were breaking the law had little choice. They were preferred holders."
Actually, 'they' were holders of Piers. Remember, the waterfall, so to speak, was to end with the Piers being impaired. Equity (both Preferred and Commons; at that time) were 'out of the money'. That all changed with Nate and the Judge's "colorable claims".
That's correct.
------------------------------------------------------------------
From: Edgar G. Sargent [mailto:esargent@SusmanGodfrey.com]
Sent: Thursday, March 22, 2012 4:36 PM
To:
Subject: RE: Wamu
Here's information I just received from Alvarez showing conversion ratios:
142,500,000 (75% of 190,000,000) are distributed to holders of preferred securities as well as claims subordinated to the level of preferred. Total disputed claims at the preferred level are $106,514,585.09. For those claims, 2,109,051 shares are reserved. The remaining 140,390,949 are distributed evenly by liquidation preference across the $7.5 billion of preferred shares. However, while the TPS are denominated in 1,000s, the Series K has a face amount per share of $25.
For the TPS, 3,729,658.260 shares provided releases and will receive 73,849,406 shares or 19.80058 new shares per old share. This share count is after giving effect to the mandatory exchange.
For Series R, 2,906,421 shares provided releases and will receive 57,548,829 or 19.8005825 new shares per old share.
For Series K, 18,166,565 shares provided releases and will receive 8,992,714 shares or 0.4950146 new shares per old share.
For the common shareholders, they are receiving 47,500,000 shares of which 4,165,750 shares go to the Dime Warrant holders, 2,631,933 shares are reserved for disputed equity claims, 693,806 shares will be distributed to Principal Financial on account of their claims and existing common will get 40,008,511 shares. For each share of existing common granting releases in the total amount of 1,194,340,178 shares, they will receive 0.03349842 shares.
Because no fractional shares are being issued, the percentages for each holder may vary due to rounding. I’m not sure what you are using this information for, but that’s an important point for holders.
Hope this gets you what you need. I'm out until tomorrow so if you have any follow up I will probably respond then.
Edgar
------------------------------------------------------------------
It wasn't TPS that "got caught", it was AAOC.
Aurelius
Appaloosa
Owl Creek
Centerbridge
Ditto! Do you have a link to your "151 OFF BALANCE CASH & ASSETS AT FDIC-R being carried same way received==OFF BALANCE"?
...or is it just your opinion?
We will know for sure at the end of April. This will be the next time the WMI Liquidating Trust will announce a cash distribution or not.
Ask AZ to explain his nonsensical "stock for value" theory to you that he's been preaching about for years. Of course, since he believes that they're no illiquid returning assets then that would make his "stock for value" event also a 'bunch of bunk'. It also means he's been preaching a 'bunch of bunk' for years. For what reason, then?
The return of illiquid assets was the basis for YOUR "stock for value" event theory. Are you saying it's now a "bunch of bunk"?
Are you referring to the FDIC $24 billion payment,(the "Settlement"), that has been suggested by Azcowboy?
Can you provide a link to the document which explicitly states the "bargain" made in which it specifies the amount of money the FDIC will "transfer"?
Are you referring to the FDIC $24 billion payment,(the "Settlement"), that has been suggested by Azcowboy?
"These losses are tied to the agreement WMIH made with the FDIC when they abandoned WMB stock..."
"So the FDIC has until mid March/2017 to transfer the money as their part of the bargain..."
Can you provide a link to the document of this agreement, more specifically to the document which explicitly states the "deal" made between the FDIC and WMIH in which it specifies the amount of money the FDIC will "transfer"?
An after hours trade (16:04:58) of 2,490 shares at $2.17
http://www.nasdaq.com/symbol/wmih/after-hours
Edited Transcript of KKR earnings conference call or presentation 11-Feb-16 3:00pm GMT
Chris Kotowski, Oppenheimer & Co. - Analyst [35]
--------------------------------------------------------------------------------
First, you highlighted WMIH in this release, and I'm wondering -- as a balance sheet investment -- and I'm wondering is that conceived of as a vehicle for investing or co-investing in ordinary private equity type investment, or is that a strategic tool for a strategic parent company investments, or how -- what should we expect to see there?
--------------------------------------------------------------------------------
Scott Nuttall, KKR & Co. L.P. - Global Head of Capital and Asset Management [36]
--------------------------------------------------------------------------------
Sure, Chris. It's a great question. So WMIH is actually a NASDAQ traded entity and think of it this way. It is the old holding company of Washington Mutual, which has a meaningful NOL. And so -- and there's lots of public disclosure that that entity puts out, so there's lots that you could find out about it. But the punchline from a KKR standpoint is we view it as a very interesting tax-advantaged vehicle for us to make some kind of strategic acquisition for KKR in the financial space or otherwise through that vehicle where we would have an ownership position in it.
So in effect, we've got a tax-advantaged vehicle through which we have the option of going and doing something interesting with balance sheet capital. So I would think that almost as a tax-advantaged SPAC that we can use to go do some interesting things. It's not a client account, to be clear. It's actually a public company.
*Edited - I don't believe KKR is calling WMIH a SPAC, just similar to one.
--------------------------------------------------------------------------------
http://finance.yahoo.com/news/edited-transcript-kkr-earnings-conference-174154856.html
"On March 19, 2012, WMIH emerged from bankruptcy. Prior to emergence, WMI abandoned the stock of WMB, thereby generating a worthless stock deduction of approximately $8.37 billion which gave rise to a NOL for the year ended December 31, 2012."
Can you provide a link to where the statement of "to meet new banking regulations" was mentioned?
It's never been proven by you or anyone else that JPMorgan DID transfer 151 billion to the FDIC-R.
On March 19, 2012, WMIH emerged from bankruptcy. Prior to emergence, WMI abandoned the stock of WMB, thereby generating a worthless stock deduction of approximately $8.37 billion which gave rise to a NOL for the year ended December 31, 2012.
Correction -
WMIH CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
not..WMI HOLDINGS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
WMIIC is not being merged. WMIIC is not being acquired. WMIIC is being dissolved.
The phrase “WMIIC is eliminated upon consolidation”, - it’s meaning has been grossly misinterpreted by a few ‘from the beginning’, believing that at some point in time that WMIIC was going to be consolidated (merged). *
WMIH’s 10-Qs and 10-Ks are consolidated reports. i.e. - (WMI HOLDINGS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS)
WMIH has stated for + 4 years that WMIIC has no assets, no liabilities, no operations…for these reasons WMIIC is not being included in any of the financial statements within any of WMIH’s consolidated reports, therefore, “WMIIC is eliminated upon consolidation”. It’s that simple.
* By the way, if WMIH had been foreshadowing for the past +4 years that at some point in time WMIIC was going to be merged then the correct way of phrasing it would have been "WMIIC will be eliminated upon consolidation" not "WMIIC is eliminated upon consolidation".
"Is" refers to something in the present tense as "will be" refers to something in the future tense. Think about it...