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thank you
I am with Merrill Lynch. I did not get my ballots yet. Did you get yours? TIA
Do you know what is the new symbol for aar? TIA
yes. However, 4 dirty HFs gifted to JPM at no costs.
yes. However, 4 dirty HFs gifted to JPM at no costs.
Plus all their relatives
Plus all their relatives
Thank you for this information. It makes me feel more comfortable.
Thank you for this information. It makes me feel more comfortable.
thank you very much.
IMHO
If I remembered correctly, Don had a post saying "release only applies to LIBR's court, not apply to DC court".
I intent to trust it. However, please double check with Don.
Appreciate your help. TIA
If ec takes 6B, would the 17B be still available for wmi2. Or, you only could choose either one.
Lady in Black Robe
That is the reason why we call her LIBR. She has to do it in order to protect her ridiculous decision on GSA ( = in favor to JPIC/Rosenrat and FDIC.)
That is the reason why we call her LIBR. She has to do it in order to protect her ridiculous decision on GSA ( = in favor to JPIC/Rosenrat and FDIC.)
I IMO don't think so. At least is not toast. At the current price ($2.00/share), it is less risk. The following two things possibly are adding more value to it.
1) There is an objection filed last week. Basically, an individual requests LIBR NOT to penalize non-colored entities for the differential interest. I think that LIBR had high possibilities to do so since LIBR made up her mind in THE 'DAY ONE". 'HER-OWN-JUSTICE" is to penalize HFs so that she could offset all the bad decisions in front of the public. That is her principle of "check and balance". Sacrificing HFs covers JPIC AND ROSENRAT.
2) To the worst case, you could opt to take the stocks in WMI2. The value could be around $3.00.
fully agreed.
I may be wrong. Need you to point out where I am wrong. TIA.
I think P will be converted 40 share of Newco instead of 15 shares.
Assuming 200 million new shares issued.
P&K have 70% of 200 million shares equal to 140 million shares. The K has 20 millions and P has 120 millions shares.
Assuming the new share is $7.00/share. Then, the P has
$7.00 x 120 million shares = $0.84B or 28% of FV, or $280/share.
Also, it is equal to 40 new shares.
I am new here. Do you know MF global have any preferrable stocks? TIA
He is Mr. Parker. Also, he was the one during the final confirmation hearing in Wamu. He has an excellent background. Also, I might be wrong, he is the partner of Susman. I wish he could represent us in the final battle.
Wamu was his training ground. Hopefully, he learned something to help us here.
In the Wamu case, he may not be a total loser but he moves no inch further. Again, hopefully, Justin is the first figurehead who shows appearance of Susman. The final battle field is handled either by Susman or Parker.
Without Nat, we were wiped out long time ago. Without Parker, JMW would not deny POR. So, everyone at that time asked Susman be in the court because of Justin's non-performance. Ask Chiron, he/she will tell you all the good stories.
Again, Susman may use the same strategies here. Susman is not BK lawyer but good at litigation. The firm may use Peter Soloman again for evaluating LBHI.
OMG, not Nelson, bad choice. Should be Parker. Bad experience w/Nelson in Wamu case.
Thanks for the info.
Question-- It is reclassified from class 5 to 10A, does class10 (A+B+C) will share waterfall (if any reaches class 10) proportionally among them? TIA
excellent analysis. Thanks again, it really give me a lot of inside info.
sent you a email
Thank very much. Actually, I did not see it until you showed to me.
Looks like the assets are so much apart from liabilities. It seems that SNH could not recoup at FV provided Susman wins 2.1B in court. Of course, commons are zero.
Originally, I thought the difference is around 3-400 milliion dollars between A and L. Looks like I am pretty naive. Any thoughts? TIA
I am a common holder. I got at the highest price in 2007 approximately $30.00/share before the reverse split 10:1. Such a bad luck.
I know you have a theory that the liabilities are dropped from 322B to 272B. Would you please deliberate more details. TIA
There is another concern which is related to subordinated status. Assuming 25% of SNHs are clean (no IT trades), those SNHs will sue the difference contract rate - FJR rate. If SHNs win in another court (not this BK court), H will be responsible to pay them. It may bring H down to $1.90/share (someone did the analysis).
IMHO, it is related to the time of conversion (12/18/2012). During the BK, there is no difference between P and k.
Assuming we reach a settlement, I guess P and K will automatically refloate as the same as before. Then it matters because WMI2 will enforce the conversion after 12/18/2012. There is uncertain what price of commons will be and what is the appreciating rate. To play the safe, may be K is better off.
Thank you. Sorry, may I ask why? TIA
Will we be better off to have 13 million H or 23 million H after FJR is determined? TIA
I'm a pre-BK holders. Do you know what is the current A & L? have you hear any news regarding litigation from Susman? TIA
Catz, thanks , and think this post assists everyone on the board is back to the right track for the discussion in the future.
I'm trying to digest your points. If anything is wrong, please correct me. TIA.
First, I want to make sure my understanding is right. 35% PIERS will recoup whatever the loss from FJR-Contract rate for the 35% of SNHs. The other 65% of Settlement SNHs (i.e. 4 HFs) get nothing including principal and interest.
It seems noway that PIERS trustee has enough to pay for it. My questions are:
1) Could "H" request to money back from P & K as they are in low ranks of H?
2) Who will be responsible for 30 million expenses per month? Like Starkes said that is H's responsibility. Is the expenses should be allocated and paid as senior notes? If so, it seems the bottom of the waterfall will be damaged, possibly commons.
3) Does disallowance cover all senior bond, subordinated bond, and PIERS from those "Settlement Bondholders"?
TIA
By the way, there is lengthy exchanging posts between gophilipgo and warcton. I' still digesting. You may want to view it from #36697 backwards.
Yes, part of that is right. The other one is per Mordicai's post #36655 on Wampq boards.