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Don’t get so discouraged, and please don’t stop trying to tie things together.
Yes I know it’s confusing. And I don’t think they’ll let it run because of the obvious implications. But they put the statement out there just in case as a CYA. Which makes sense.
Well they pointed out in the merger agreement that no matter what the current trading price the merger will be at a set price. So they must anticipate the price rising.
Large I understand this scenario for P but what about K preferreds?
I think it will be a company called
Arch capital.
Oh k, a note usually has a quarterly payment. But I’ve never heard of a note you couldn’t sell if you wanted.
No it doesn’t make sense. How do you tie WMIH shares into this?
I thought we were expecting this to close by November 2018?
This was why I was hopeful DB as the trustee would distribute funds and they could have in “book entry” form only. I just thought with the amounts matching up we would here more by now. Well I guess we wait till merger.
I still don’t believe we can do a merger with any old mortgages-assets being serviced without closing the bankruptcy first.
Nationstar already did cry “foul”.
One hour after the merger was announced, remember?
I don’t deny that one day we will see a distribution, but I believe it’s held up till class 17 is rectified. I think the trustee is doing their job and notifying all parties but the FDIC is holding up the process.
Wwhatthe, are you saying you believe the P&K’s are capped?
What does book entry shares mean?
A Direct Registration System (DRS) is a method of recording shares of stock in book-entry form. Book-entry means the Transfer agent & Trust Company, maintain your shares on your behalf without the need for physical share certificates.
Let’s hope
And what does this indicate price or future amount of possible shares?
Sorry I’m slow...
Those mortgages have debt against them but ok.
I’m not sure that’s how a share price is calculated?
Then the only other possibility is we were not involved in these trust.
They said they would pay and I believe they did. T-3 puts us at today.
Does the trust have the right to withhold funds?
Could be with the FDIC.
Are u saying 200B in mortgages?
Tomorrow’s call should only mention a future event looking forward to WMIH’s merger. Nothing should effect us on there call.
Thanks bond I get it. There’s actually been two cases relevant to our issue.
One where it was ruled the bankruptcy court has the jurisdiction to allow certain creditors to be paid in a certain time frame and this. It’s all relevant. And the legal game we’re all deeply involved in.
Dragon I do agree with you but I am so curious who DB will pay at the end of the month or if any flow of monies can be held up by the FDIC if it does involve us. If this is separate and independent of the Bank, can the FDIC still hold it up? DB is communicating to some party of interest and I’m hopeful it’s us.
I just wish we knew if this has anything to do with us.
Well Jin at least we get to see next week who DB is paying.
Yes and the interpretation still is unclear. I thought this was laid to rest when we didn’t see anything on 2/1.
I’m hopeful but I don’t see how anything can come to escrows before a couple more issues are addressed like the JB’s.
Frankly, I was surprised to see the issue come up at all. I thought once we didn’t see anything come of it on 2/1 we just weren’t participants. I had accepted it and moved on to the merger. Well at least we on have 10 days to find out.
I’m starting to think there will no no additional share issue for us and they will use those shares to acquire more companies. Pay us cash if there are returning assets.
Modicai, Where would the 3.5B shares fit into these scenarios? Thanks
I think the BOD is in a dam if you do or dam if you don’t situation. They need to work with the controlling agency to move forward. The SEC have been proven to be porn paper puppet in the past. So he who controls the resources, is who I would listen too. So if the FDIC tells you that the Banks Jr bonds need to be settled and that the closure must show that this seizure didn’t cost a dollar.
Then the BOD needs to smile, suck it up and do it or whatever the hold up is. But you can extend deadlines for years with the SEC.
JMO
Jin, and on that note. I don’t see what can trigger a change in the reporting or disclosure of assets.
This can continue for some time.
What about buying the escrow assets for face value? Can that happen?
It would look F&R. A 200% return.
The BOD is not acting in our favor unfortunately. We’re ripe for the taking. All the secrecy. No one fighting on our behalf and a giant wanting whatever it is we don’t know we own. Kill em in infancy and let em bring suit and settle for scraps.
That’s business environment 101.
Buy em cheap, take em private and not be accountable to the original owners. IPO it and let it soar....
The opportunity is wide open for them to steal and I’m sure they calculate a little litigation in the expense.
Sounds like a private agreement doesn’t it?
That’s right “No more Wamu’s”.
No more of the so called (mom & pop’s) wrong people benefiting from the governments mistakes.
This is a one time opportunity. They can steal the company but they’ll have a hard time stealing those escrows.
Tick...tock punks!!
Thanks for your opinion. I too thought the mention of “mom & pop” would be followed by some type of notice. But at least we only have to wait this week and see. And then it’s on to shareholders meeting I guess.
Hotmeat, how can we tell if we’re a party of interest? I mean we can’t get basic questions answered. And doesn’t the FDIC have the right to withhold any funds till the receivership is resolved?
There are many private hearings we’re not aware of. I don’t know if we’re allowed to see all standing transcripts right now.
And that’s just what’s left. This is gonna be good.