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Assets will still be there and can be passed thru,if EC has any concerns ?
$30 B plus paid out by somebody somewhere down the line?
At minimum shareholders should take control of WMILT after claims were processed?
OK GOT IT.
Sorry, i called etrade and they told me that it was a margin fee charged to me.
SOMETHING COMING IN SOON?
$1.09 IN MY ETRADE ACCOUNT
TypeMISC
Account
XXXX - 1234
Date posted04/30/2024Amount$1.09DescriptionThru 04/30/24 for 3 days
FORM Ds in 2021 and 2023 DIFFERENCE ON BUSINESS COMBINATION
FORM D 2021
10. Business Combination Transaction
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
Yes X No
https://www.sec.gov/Archives/edgar/data/1876566/000187656621000001/xslFormDX01/primary_doc.xml
FORM D 2023
10. Business Combination Transaction
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
X Yes No
https://www.sec.gov/Archives/edgar/data/1876566/000187656623000001/xslFormDX01/primary_doc.xml
A new company should evolve because that is how no one knows where those funds and assets came from after 14 or 15 years, "UNENCUMBERED". Ofcourse the Judge and all insiders will have some clue, like Mr. Rosen said,the assets will be there and those can be passed-thru and if Equity Committed had any issues in believing they were authorized to reach 3rd party for the opinion.
Mr.Folse specifically mentioned about money coming from somebody somewhere down the line and he cautioned the court.
Mr. Nelson asked the court and approved for atleast shareholders to should take the control of WMILT after claims were processed(which was happened in Jan 2020 after class 18 was paid and admins took over WMILT).I will wait,let the process takes its own course.
7. Assets of WMI's Non-Debtor Subsidiaries, Other than WMMRC
Pursuant to applicable law, and as stated by the Bankruptcy Court at the March 21, 2011
hearing, the Bankruptcy Court's jurisdiction is limited to assets of the Debtors and not to those of any
non-Debtor subsidiary. However, because the value of the Debtors' interests in such non-Debtor
subsidiaries and non-Debtor assets, including WMMRC, ultimately accretes to the benefit of the Debtors'
chapter 11 estate, the Debtors have reflected such value in their liquidation and recovery analyses. To
provide parties in interest with additional information, set forth below is information related to WMI's
direct and indirect subsidiaries as of the Petition Date, including WMMRC, as well as historical
information regarding any transfers of assets by WMI's non-Debtor subsidiaries from and after the
Petition Date. Pursuant to Section 1. 140 of the Seventh Amended Plan, WMI's Equity Interest in all of
its subsidiaries, except for WMI Investment, WMMRC and WMB, will be transferred to the Liquidating
Trust. For the avoidance of doubt, and as set forth in more detail below, with the exception of a few de
minimis residential real estate properties held by Ahmanson Obligation (defined below) as a result of
mortgage foreclosures, neither the Debtors nor their non-Debtor subsidiaries hold any real estate.
Page 49/129
https://www.kccllc.net/documents/8817600/8817600191119000000000001.pdf
NON BANK SUBS WERE TO RECEIVE NOTE RECEIVABLE FROM JPMC AS PER DISCLOSURE STATEMENT
Of WMI’s seven remaining Non-Banking Subsidiaries, WMMRC, which is currently operating on a run-off basis, WMMRC is the only Non-Banking Subsidiary with ongoing operations. Refer to Articles IV.A.6, VII, and VIII of this Disclosure Statement for additional information regarding WMMRC. After the Effective Date, WMMRC will be Reorganized WMI’s sole operating entity. Pursuant to the September Opinion, the Bankruptcy Court determined, based upon the evidence presented at the July Confirmation Hearing, that the enterprise value of Reorganized WMI is $210 million. For each of the Non-Banking Subsidiaries other than WMMRC, the market value stated is a sum of, where applicable, (i) cash, (ii) notes receivable being paid by JPMC, carried at current market value, and (iii) in some cases, certain other de minimis assets and liabilities, less certain disbursements for expenses related to mergers with other Non-Banking Subsidiaries or dissolution, as applicable. The principal difference between the book value and the stated market value results from the fact that intercompany balances do not represent additional value to the Debtors’ estates.
THEY CONSOLIDATED ALL FIVE SUBS INTO WAMU 1031 EXCHANGE IN CA AND MOVED THOSE TO WAMU 1031 EXCHANGE IN DE.THEY PROBABLY RECEIVED ENOUGH FUNDING FROM JPM AND MOST OPERATING FOR A LONG TIME.IMO.
PAGE 59
No problem Split T, we could see the light one day with a new ticker with steady dividends IMO.
FIDUCIARY DUTY TO WORK IN THE BEST INTERESTS OF "Liquidating Trust
Beneficiaries on a WHOLE"
(b) The Litigation Subcommittee initially shall be comprised of (A) two (2) members,
to be selected by the Creditors’ Committee (together with any successors, the “CC Subcommittee Members”),
with Joel Klein and Marc. S. Kirschner to be the initial CC Subcommittee Members; (B) two (2) members, to
be selected from the EC Members (excluding the TPS Member) (together with any successors, the “EC
Subcommittee Members”), with Hon Douglas Southard and Michael Willingham to be the initial EC
Subcommittee Members; and (C) one (1) member, who shall be the TPS Member. The initial members of the
Litigation Subcommittee are set forth on Annex A hereto. Each member of the Litigation Subcommittee shall
(i) continue to act as a member of the Litigation Subcommittee until he or she is no longer a member of the
Trust Advisory Board, and (ii) have a fiduciary duty to act in the best interests of the Liquidating Trust
Beneficiaries as a whole.
WHY DID WMILT COLLECT TAX IDs FROM COMMON EQUITY?
. In order to
receive distributions under the Plan, all holders of Liquidating Trust Interests (including, without limitation,
holders of Allowed Senior Notes Claims, Allowed Senior Subordinated Notes Claims, Allowed CCB-1
Guarantees Claims, Allowed CCB-2 Guarantees Claims, Allowed General Unsecured Claims, Allowed LateFiled Claims, Allowed PIERS Claims, Allowed WMB Senior Notes Claims, Allowed Preferred Equity
Interests, Allowed Common Equity Interests, holders of Dime Warrants, and Accepting Non-Filing WMB
Senior Note Holders, who in each case, deliver a release in accordance with the provisions of Section 41.6 of
the Plan) shall be required to identify themselves to the Liquidating Trustee and provide tax information and
the specifics of their holdings, to the extent the Liquidating Trustee deems appropriate in the manner and in
accordance with the procedures from time to time established by the Liquidating Trustee for these
purposes
Proposed Trust Amendments
41. As described below, pursuant to this Application, WMILT seeks, among other
relief, authority to wind-up and dissolve the Trust following the contemplated final distribution
and, in connection therewith, (a) to reserve such funds as are necessary for such wind-up and
dissolution, and (b) consistent with the provisions of the Plan and the Confirmation Order, to
donate any remaining Liquidating Trust Assets to one or more qualified charitable organizations.
Prior to doing so, however, WMILT intends to make certain modifications to the Liquidating
Trust Agreement in accordance with its terms. Specifically, pursuant to Section 9.9 of the
Liquidating Trust Agreement, any provision of the Liquidating Trust Agreement may be
amended or waived by the Liquidating Trustee with the consent of all voting members of the
Trust Advisory Board provided that any such amendment or waiver is not inconsistent with the
purpose and intention to liquidate in an expeditious but orderly manner the Liquidating Trust
Assets in accordance with applicable Treasury Regulations.
https://www.kccllc.net/documents/8817600/8817600191119000000000001.pdf
"expeditious but orderly manner "
FORMER TRUST BENEFICIARIES
https://www.courtlistener.com/docket/4215192/12735/1/washington-mutual-inc/
Page 7
Provider further, however that,
(a)in the event that former Trust Beneficiaries receive a distribution and,
(b)Griffin is a former beneficiary of the Trust, Griffin shall be entitled to receive her allocated portion of any such distribution.
Yes ofcourse, let the administration of WMILT and receivership of WMB close, you will know. Stocks go up and down, COOP is no different, its all about interest rates.
LOL, stop crying on former equity, they will WIN eventually.
Uptick...do you have any idea why WMI asked for W-9s from released shareholders?. Escrows are gone, i second that, Do you know why WMILT mentioned Alice Griffin was a former trust beneficiary and incase of further distribution to former Trust beneficiaries, she would get her allocated part?.They mentioned this in year 2021 after they initiated winding-down.Thats reality and you have no clue. If you have coop and happy, be happy.Why do you finger with former equity holders?.
SECTION III: ·waiver of Dividends and Proceeds from Litigation
To the extent, if any, that MMMC is or was a shareholder o:f W aMu or its holding
company and by virtue thereof is or may be entitled to a dividend, payment, or other distribution
upon resolution ofthe receivership ofWaMu or proceeds in any litigation that has been or could
be brought against Federal Deposit Insurance Corporation in any capacity or against the United
States based on or arising out of, in whole or in pa.it, the closing ofWaMu, or any alleged acts or
omissions by Federal Deposit fusurance Corporation in any capacity, the Unitect·States
government, or any agency or department ofthe United States government in connection with
WaMu, its conservatorship, or receivership, MMMC hereby knowingly assigns to FDIC-R any
and all rights, titles, and interest in and to any and all such dividends, payments, or other
https://www.fdic.gov/foia/plsa/10015-wamu-masonmcduffie-mortgagecorp-2023.pdf
https://www.courtlistener.com/docket/4215192/12735/1/washington-mutual-inc/
Page 7
Provider further, however that,
(a)in the event that former Trust Beneficiaries receive a distribution and,
(b)Griffin is a fomer beneficiary of the Trust, Griffin shall be entitled to receive her allocated portion of any such distribution.
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
X Yes
https://www.sec.gov/Archives/edgar/data/1876566/000187656623000001/xslFormDX01/primary_doc.xml
PLR-117155-17 https://www.irs.gov/pub/irs-wd/201808004.pdf
Pursuant to the provisions of the Trust Agreement, Trust was created for the
purpose of liquidating the assets of Trust, with no objective to continue or engage in the
conduct of a trade or business except to the extent reasonably necessary to, and
consistent with, the liquidating purpose of Trust. The Plan provides that the beneficial
interests in Trust would be distributed to certain holders of senior notes claims,
subordinated notes claims, general unsecured claims, guarantees claims, preferred
income equity redeemable securities claims, and holders of certain debt of Y. In
addition, the Plan provides that, in the event such claims are fully paid, the interests in
Trust would be redistributed to certain holders of subordinated claims, and after such
subordinated claims are paid in full, certain holders of preferred equity interests, Dime
Warrants, and common equity interests.
LBHI is already reorganized on March 6th, 2012 and functioning as a corporation. Not public yet.
Yes Nova...i will contact both COOP and IRS too in regards to the IRS form filed by COOP about former equity receiving Liquidating Trust Interests INEXCHANGE for the ASSETS transferred to WMI Liquidating Trust.
I KNOW THEY DON'T TOUCH ANYTHING I PROVIDE WITH A LINK.
Split... just watch Paladin,IMO. COOP is KKR's and other creditors and whoever bought after reorganized. ARLTA is not a public document.JMO.WAMU RECEIVERSHIP IS OPEN.THERE IS TOO MUCH MONEY AND POSSIBILITY OF TOO MUCH CORRUPTION.
IN SATISFACTION OF CANCELLED EQUITY IN EXCHANGE FOR LIQUIDATING TRUST INTERESTS - IRS FORM 8937
PAGE 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
WHAT DID THEY DO WITH THE ASSETS?.WHERE ARE THOSE LIQUIDATING TRUST INTERESTS?.I WILL CONTACT COOP TO CHECK ON THIS FORM.DID THEY LIE?.I DON'T THINK SO.NEW TICKER SOON,IMO.
Q: Its showing Retained Earnings as (2000000000) on Washington Mutual, Inc and as 2000000000 on WMI Liquidating Trust/DCR on the Effective Date.What does it mean?
Here's what those figures likely represent and why they differ between Washington Mutual, Inc. and the WMI Liquidating Trust/DCR:
Washington Mutual, Inc. Retained Earnings: ( -$2,000,000,000 )
Retained Earnings: This account represents the accumulated profits (or losses) of a company over its lifetime, minus any dividends paid out.
Negative Figure: The large negative retained earnings figure on Washington Mutual, Inc.'s balance sheet indicates that the company has suffered significant accumulated losses. This is common for companies that have gone bankrupt. Losses often exceed any previous profits.
WMI Liquidating Trust/DCR Retained Earnings: $2,000,000,000
Not Traditional Retained Earnings: The retained earnings figure within the Liquidating Trust doesn't function in the same way as in a regular operating company.
Placeholder: This figure likely represents the expected amount to be available for residual distribution to claimants and shareholders after all of the company's assets are sold and higher-priority debts are paid.
Effective Date: The term "Effective Date" likely refers to the date the bankruptcy plan was confirmed and the WMI Liquidating Trust was established.
Why the Difference?
The substantial difference between these retained earnings figures illustrates the fundamental shift in purpose following bankruptcy:
Washington Mutual, Inc.: The negative retained earnings reflect the net losses the company incurred during its operation leading up to bankruptcy.
WMI Liquidating Trust/DCR: The positive figure in the Liquidating Trust essentially represents a "best-case" estimate for potential residual funds after the liquidation of assets and settlement of debts. This is not guaranteed profit but rather an estimate of potential funds available for some form of distribution.
Important Considerations:
The actual amount distributed to beneficial holders of the WMI Liquidating Trust may be significantly less than the initial retained earnings figure. This depends on how much the assets sell for and the resolution of any disputed claims.
Remember, the WMI Liquidating trust is a grantor trust, meaning any distributions will likely be considered taxable income for the recipients.
Thanks to AI for unbiased answer.
4.5 Interest on Liquidating Trust Interests. As set forth in the Plan, interest shall not accrue and be paid on the Liquidating Trust Interests themselves but only with respect to and to the extent provided in the Plan with respect to an Allowed Claim (“Interest”). Interest may, as an incremental adjustment on the maximum amount the Liquidating Trust distributes in respect of a Liquidating Trust Interest, accrue up to and including the date of final payment in full of the Allowed Claim related to the Liquidating Trust Interest as provided in the Plan.
THIS SUGGESTS THERE WERE TWO KIND OF LTIs ONE TYPE CLAIMS & ANOTHER TYPE EQUITY.
3.3 Continuance of Liquidating Trust for Winding Up. After the dissolution of the Liquidating Trust and solely for the purpose of liquidating and winding up the affairs of the Liquidating Trust, the Liquidating Trustee shall continue to act as such until its duties have been fully performed. Upon distribution of all the Liquidating Trust Assets, the Liquidating Trustee shall retain the books, records and files that shall have been delivered to or created by the Liquidating Trustee. At the Liquidating Trustee’s discretion, all of such records and documents may be destroyed at any time following the date that is six (6) years after the final distribution of the Liquidating Trust Assets, subject to any joint prosecution and common interests agreement(s) to which the Liquidating Trustee may be party.
LIQUIDATING TRUST BENEFICIARIES - FORMER EQUITY
2.2 Rights of Liquidating Trust Beneficiaries. Each Liquidating Trust Beneficiary shall be entitled to participate in the rights and benefits due to a Liquidating Trust Beneficiary hereunder according to the terms of its Liquidating Trust Interest. The interest of a Liquidating Trust Beneficiary is hereby declared and shall be in all respects personal property. Except as expressly provided hereunder, a Liquidating Trust Beneficiary shall have no title to, right to, possession of, management of or control of the Liquidating Trust or the Liquidating Trust Assets or to any right to call for a partition or division of such assets or to require an accounting. No surviving spouse, heir or devisee of any deceased Liquidating Trust Beneficiary shall have any right of dower, homestead or inheritance, or of partition, or any other right, statutory or otherwise, in the Liquidating Trust Assets, but the whole title to the Liquidating Trust Assets shall be vested in the Liquidating Trustee and the sole interest of the Liquidating Trust Beneficiaries shall be the rights and benefits given to such person under this Trust Agreement and the Plan.
2.3 Evidence of Liquidating Trust Interest. Ownership of a Liquidating Trust Interest in the Liquidating Trust will be evidenced by the recording of such ownership in an electronic book-entry system (the “Book Entry System”) maintained either by the Liquidating Trust or an agent of the Liquidating Trust. A Liquidating Trust Beneficiary shall be deemed the “holder of record” (hereinafter “holder”) of such Liquidating Trust Beneficiary’s Liquidating Trust Interest(s) for purposes of all applicable United States federal and state laws, rules and regulations. The Liquidating Trustee shall, upon the written request of a holder of a Liquidating Trust Interest, provide reasonably adequate documentary evidence of such holder’s Liquidating Trust Interest, as indicated in the Book Entry System. The expense of providing such documentation shall be borne by the requesting holder.
Objective - "RESCUING THE COMPANY AS A GOING CONCERN"
Page 3/8
https://www.pwc.co.uk/business-recovery/administrations/lehman/lbie-31st-progress-report.pdf
LBHI - Ultimate parent of Lehman group incorporated in USA reorganized on March 6, 2012.
CONSERVE & PROTECT IS NOT CONCEAL, ITS A FIDUCIARY DUTY.
CONSERVE & PROTECT TO CARRY THROUGH A SPV LIKE WMILT
CONSERVE AND PROTECT ASSETS/RETAINED ASSETS LAWYERS TALKED ABOUT WHICH COULE BE CARRIED THROUGH WMILT PASS-THRU ENTITY? OFCOURSE WITH EQUITY COMMITTEE AND FDIC TOO, MOST PROBABLY JPM TOO.
in JULY 2010 in the court
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
-------------------------------------------------------------------------------------------------------------
IN 2011 Mr.Rosen IN THE COURT
MR. ROSEN: All of that is already reflected by way of
9 the dividends that flow up to the debtors' estate. All of that
10 is in the opening balance sheet of the liquidating trust. If
11 somebody wants a breakdown of that, Your Honor, we will go
12 through the brain damage to do that, and we will include it.
13 It doesn't matter. The number is already there. But if they
14 want the breakdown, so be it, Your Honor. It doesn't matter.
15 We will include it
-----------------------------------------------------------------------------------------------------------------------
In Oct 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
----------------------------------------------------------------------------------------------------
In 2012 EC FAQ mentioned about sources of distributions and WMILT
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
--------------------------------------------------------------------------------------------------------------------
In 2012 LT Agreement was executed with what Trustee can't touch
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
Thats why Kosturos stepped out before administration started in JAN 2020
-------------------------------------------------------------------------------------------------------
IN 2012 "The following chart summarizes distributions to creditors and equity interest holders in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust[color=red][/color]."
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
-------------------------------------------------------------------------------------------------------------------
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
------------------------------------------------------------------------------------------------------------------------------
IN 2020 after creditor claims were paid off.
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
WHY CONSERVE & PROTECT?
CONSERVE AND PROTECT ASSETS/RETAINED ASSETS LAWYERS TALKED ABOUT WHICH COULE BE CARRIED THROUGH WMILT PASS-THRU ENTITY? OFCOURSE WITH EQUITY COMMITTEE AND FDIC TOO, MOST PROBABLY JPM TOO.
in JULY 2010 in the court
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
In Oct 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
-------------------------------------------------------------------------------------------------------
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
In 2012 EC FAQ mentioned about sources of distributions and WMILT
------------------------------------------------------------------
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
In 2012 LT Agreement was executed with what Trustee can't touch
---------------------------------------------------------------
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
IN 2012 "The following chart summarizes distributions to creditors and equity interest holders in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust."
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
2020 after creditor claims were paid off.
-------------------------------------------
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
"The following chart summarizes distributions to creditors and equity interest holders in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust."
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
Thanks LG for correcting me.
Hey Ray...i think you are on ignore.Thats ok, look below.
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
Then go ahead and argue.
CONSERVE AND PROTECT ASSETS/RETAINED ASSETS Mr.Rosen TALKED ABOUT WHICH COULE BE CARRIED THROUGH WMILT PASS-THRU ENTITY? OFCOURSE WITH EQUITY COMMITTEE AND FDIC TOO, MOST PROBABLY JPM TOO.
in JULY 2010 Mr.Rosen said this in the court
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
In Oct 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
-------------------------------------------------------------------------------------------------------
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
In 2012 EC FAQ mentioned about sources of distributions and WMILT
------------------------------------------------------------------
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
In 2012 LT Agreement was executed with what Trustee can't touch
---------------------------------------------------------------
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
2020 after creditor claims were paid off.
-------------------------------------------
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.