Linda is biotch...! LOLz JayKay
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.
99.9999% of the time... don't worry, you are still President of the fan club.
~ who threw the first shot?
Welcome, President of the Marayatano fan club!
But I always proved you wrong. =P eom
Pull up the wells.fargo allowed claim. Divide that amount by 23 million. It comes out to the allowed amount per unit.
Look.at.the sec filing. It adds.up.to.exactly.23 million.
It.is.very late over here.
Good night.
Imo
Without me going back and reading, HUQ is considered 1 unit. 1 unit is comprised of a preffered share and a warrant. The face is $50, however, the security was issued at a price of approx. $32/$33, not $50.
Since bk occurred, the warrant is automatically cancelled and non-exercisable. There are no more warrants.
The ORIGINAL claim was for $50 per unit, however, it was rejected and adjusted to $34.xx because these units were issued at $32/33 per unit, not $50. The Wells Fargo Trustee agreed to the reduction and admitted error on the trustee's calculations.
As for the float, look down further on my LONG post and the 23 mil float was confirmed by the Wells Fargo Trustee and there were some sec filings which are also in the post.
Plus, all the figures add up to the allowed claim as shown in the LONG post.
imo
Here are some of my old posts from back in the day:
Yup, when everyone use to say there is going to be a settlement, today, tomorrow, next week, next month, etc.
...well... imo, this is going to be the last POR (settlement this time is going to be true). It is going to be a 90/10 split (of whatever so commons can have a bone to chew on, but i dont mind) in favor of preffereds of course and the the Liq trust/lit trust will go to preffereds first, than commons. The TPS will agree this time...just to get paid.
This is it... what better time to settle and do damage control for the HF.
... the end game is near...
all imo of course...
I spoke to the Wells Fargo Trustee about 1 or 2 years ago about the HUQs. I can confirm that there is 23 million float on the HUQs.
We also went through as to how they came up with the $34.xx per unit allowed claim (which I won't go into detail since it is not important).
Also, from my memory, these HUQs are units comprised of a preferred share and a warrant. These two securities together are 1 unit of HUQ.
imo
At Page 98, Footnote 40.
I believe it was FJR across the board. imo eom
Edit: To clarify: Also, it is the obligation of H to pay contract rate to seniors if seniors pursue, however, I do NOT know if they can after plan confirmation. That is something I just do not know.
My point being the amount of "$30 million" burn rate (mentioned int he article) does not apply, it is less because of FJR. H (including general unsec claims) still in non-contract rate. It just burns at a lesser rate. imo eom
Briefly:
My main point was that Stark aka CRTC was going to be subject to "potential" litigation from EC/Lit Trust.
Reason:
Stark (along with another hedgie, I think called Little Bear) first appeared in an article stating to the effect: WMI will receive tax refunds in the approx. amount of $5.6 billion and P's would be valued at $600 to $800 per share. Shares of P increased to approx. $120 per share.
Later we find that Stark was mentioned in a Atty billing, i.e. he received material information.
Now fast forward to today: Re the article. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67096028
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67098669
Not saying the the last two (2) posts above are Stark receiving material info, because this info was I believe in the latest Opinion of Walrath. That last article just reminded me of the other info I posted above.
Hence the reason why I called Stark our "buddy".
Anyhow, HF cannot sell their shares since they are locked in from the last vote on the POR.
The alternative is, it is possible to sell short H (through wahtever MM), and HF promised to deliver (the the MM) their shares once the lock on their voting shares are released. However, that is speculation as all my posts are.
As for the 30 mill burn rate, that is no longer valid since we are in FJR now.
Thanks, I have to get back to work.
imo of course.
If Absolute Priority applies, than yes.
We are in the Mediation phase now. Mediation = Compromise assuming there is progress.
Earlier settlement talks were 51% equity for the reorganized WMI2, $25 mill (approx) litigation fund, $100 Mill credit facility, liq trust, etc.
We can use that as a template.
imo
Opps my bad, CORRECTION to my previous post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67096028
Stark = CRTC NOT CSTI
At this point, agreed, anything is better than common... imo eom
H (warrant attached) were convertible to common (WAMUQ or whatever the symbol was before) before BK, but not now, however, they may be receiving shares in the reorganized WMI2 depending on how the new POR will be written.
As for commons getting $24 or 24 times damage (I always chuckle when I see that), I doubt that will ever happen especially since Walrath maintains her fair and reasonable GSA. Commons will be lucky to get shares in the reorganized WMI2.
In the end, whomever gets the reorganized debtor, they are in for a windfall. Hedgies wanted it for themselves (may be not now if they get disallowed claims, have to wait and see what comes out of the mediation)... as they say, "Follow the Money..."
All in my opinion of course...
Hey look, it is our buddy Starke. Starke = CST or CSTI, can't remember the exact MM on this.
He is going to be a target in the Litigation fund, imo.
agreed. eom
Nice! eom
EDIT: Actually, they are at a new high of day. Let's see what happens here...
They "just" popped. Let's see if P's follow... eom
No thoughts really other than it could be investors moving money from H to P/K/tps.
H is up to only $34.xx. Upside limited for H. More upside else where, ie p/k/tps, BUT P being the best.
Not to many people looking at H therefore less on BID and more of ASK.
FJR (and possible subordination clause) kicked in and put p/k in reach of the waterfall. Therefore, H may no longer be the fulcrum group and is switched over to the P/k/tps.
I have to get back to work. TTYL
imo
That is because they are "unsophisticated" investors... imo eom
Hey, at least you have diet Coke in the fridge! ha ha j.k. eom
Plus TPS (as of now). Approx. 7.5 Bil in total. eom
Just to clarify, Marymbobh is not a sitting Judge. She is a non-bk atty. imo/eom
You have the wrong Board. I am sure you meant to post that on the Lehman Board since they are toast from the Cap Trusts/Sub Notes all the way down. They just refuse to live in reality and keep their rose colored glasses on despite all the signs and warnings. LOL
imo
Walrath approved/granted the EC. Denied the last POR. Granted a form of discovery on the SNH. All these are in Equity's favor. Without any of this happening, no body would be here except for debt/crediors.
She will grant S&G going after the Hedgies, imo.
Remember, usually the loudest one complaining, is the lowest on the totem pole.
Again, we both look at Walrath, but have different interpretations/views. It just depends on from what perspective you are looking from.
Look at Lehman. Everyone from Cap Trust/sub debt down are toast. All complain at varied degrees.
imo
He is refering the Jerele. eom
You must be from Los Angeles. eom
I think you are "in heat . . . " LOL j.k. eom
For laughs and giggles (LOL):
H = Jr. Sub Debt, Period. No need to worry about that. eom
"Velcome to Amerikca..." ... the American way of doing business... eom