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Thank you for your expertise. There are two different comments regarding selling of "H". One is your posts, "H" is responsible to recoup whatever the loss of Senior bonds from FJR plus 30 million dollars expense per month. Another is related to Catz' post that HFs disgorge the illegal gain in IT. Any thought?
I am thinking,.... H should receive more waterfall due to the FJR. If H has to recoup loss from senior bonds recovery, additional FJR for H would set it back before the next class. So, there seems, from $$ point of view, equal out.Moreover, H would get NOLs in WMI2. Personally, I think, IMHO, HFs lost all the interest in this part because EC will be on board for WMI2. HFs could no longer manipulating NOLs for their own advantages. Any thought buy or sell H? TIA
Yes, I know you're right. I just wanted to show HFs' dirty mind originally. HF just wanted to take advantage of NOLs rather than forming an operational WMI2.
Like said before, put your commons in the drawer. We have enough patience to await another 3-4 years.
Susman will take the contingency. Reserved $35 million is only for the local corresponding law firm.
I increased my portfolio of "H" 150% today. The more I read posts today, the more I feel it won't bounce back.
HFs will fight the IT allegation at the last minute, there is no "mediation". Therefore, there has nothing left for "H" because HFs pays their attorney's fee from estate. In other words, no waterfall ever reaches "H".
Also, HFs want to utilize NOL exclusively. But HFs realized that EC will be on the board of WMI2, they lose their original convenience. EC wants to sell NOLs but HFs want NO WMI2 but only take advantages of NOLs by themselves.
From the above reason, H provides no value for HFs anymore. Remember,once a time HFs ask only party holding more than 1 million in FV 0f H will be qulified to participate in reorganization.
Sounds very possible. It means there is no "mediation", and 4 HFs will fight IT allegation till the last minute, and use estate to pay their attory's fee. 4 HFs know there won't have anything left for "H". That is probably the reason of sellin off "H" today.
Marayatano, thank you very much for posting this information. I have a question, I am appreciated your comments. TIA
Assuming Pier pays all the expenses, and the recovery is less than $34.00/share, does it mean the preferrds stocks (P & K) get nothing?
Catz, thank you.
Is that the reason H is sold more than 2 million shares today. Back in April, someone sold 1.5 million shares. TIA
if I'm not mistaken, it was issued 23M shares
Also, do you remember sometimes in April, someone (I guess it's HFs) sold about 1.5 million shares and drove the pps to $10.00 pps. I think someone is dumping because of his own concern, and has nothing to do with us.
It's the right time to pick up more.
Also, do you remember sometimes in April, someone (I guess it's HFs) sold about 1.5 million shares and drove the pps to $10.00 pps. I think someone is dumping because of his own concern, and has nothing to do with us.
It's the right time to pick up more.
absolutely agreed. whatever "settlement SNHs" did has nothing to do with us (individual investors). I increased my portfolio 150% as we're talking.
It could be true. However, if preferable stocks get paid, H should be paid as stipulated @34.00 before those Ps and Ks get a penny.
thanks your expertise. GLTY
You may see Catz's post 334561 at "U" board yesterday. I believe that today's sink has only thing to do with "Settlement SNHs".
do you know the reason H is sinking toady? TIA
do you know the reason of sinking today? TIA
Catz, thanks for millions, lucky guy, thank you to bring us some lights down to the tunnel.
Thank you very much. It clears my thoughts. Thanks
Hi, Catz. I have a question, I am appreciat your comments. TIA.
I understood whatever you said here. Here is my question. If the debtors found more cash to pay off "H" class completely/fully, does "H" still stay the same as recovery of $34.00? Or, "H" will be changed to recover $50.00 as FV? So, "H" will no longer be part of new owner of WMI2.
LG, I read several your posts and absolutely agreed to your points. This is the only way that she can be out of this mess without hurting her reputation (i.e. rewrite/disagree her previous opinion.
What is your thought about pps when her opinion is released?
LIBR was very reluctant to grant EC. UST and Joice are the ones to push for it. Do we have any opportunities that UST could do the same?
No, you don't have to hide, and should express your opinion all the times. You're right that she will nail HFs as bad as possible to ensure EC on the board for the next negotiation.
LIBR has made up her mind on the 1st day. She is, as a normal female, emotional and follows her feeling rather than the facts.
No doubt, she will protect BR, JPIC/FDICK as much as possible. But, she will nail HFs at the same level. I don't know the outcomes IMHO, such as approval for POR, or partially etc.
I always respect your feeling. Let me know your thoughts under my assumption. TIA
Thornburg is "THMRQ" and still in trading.
typo, sorry it's escrow account
MTLQQ is in an escort account for the future liquidation of GM old facilities, lands, etc.
Cancelled stock will be kept in escort account.
Be more precise, the recovery was recommended by government and bankers. The actual recovery under contract of course is unknown. IMHO It should not be too far away.
Sorry for the previous message not precise enough.
From my reading in local HK newspaper, the recovery is from 70-96.5%. Institutional investors get 70%, and individual investors based on their individual status in terms of age, wealth, etc could get upto 96.5%. The difference between 70 and 96.5 is picked up by local banks and sellers of Lehman's minibond.
IMHO, I think the settlement rate is 70%. Local bankers' actions was not voluntary because the HK government had to meet with very angry protestors.
Do worry, Crooks have their dirty ways. AM/WEIL will send WMI "you owe me notes", and continue raping us off.
I knew you have some wamuq. I have always said that the decisive battle is in DC (Judge Collyer). Susman will take contigent fee as he did for Tornburg Mortgage Inc. (New Name: TMST)
Wamuq might be dropped as LIBR only gives very limited recovery to shareholders. Linda, be ready to get more shares at low price. The deep pocket is in DC. The chance is better than lottery.
I knew. At least, Judge Peck took the responsibilities to rule something which are apparentely clear. LIBR did not want to take any heat/hit/responsibilities.
HF is hedging fund. She never ruled any summary judgement for 4B deposit. She should ignore debtors' requests (debtors ask not to rule it till later), and she should rule it asap. Then, WAMU could be settled long time ago. Until the moment, Jpig gives back OUR deposit, then she said that Jpig contributes the selltements. It is 'fair and reasonable". I couldn't believe.
Judge Peck ruled the similar here, that really means "fair and reasonable".
Wamuers call Judge Walrath LIBR (Lady in Black Robe).
One of the major condemnations Wamuers have is that JMW's opinion toward GS is fair and reasonable. Jpig returned WMI's deposit of 4B to exchange release. JMW believes JPig is fair and reasonable. Also, JMW said 4B will cause Jpig bank run. It's rediculous. Jpig gave, at the same time, 10B bonus to its employees. If JMW had her SJ of 4B long time ago, of course ruling for wamuers, everything was settled 2009/10.
Also, you could mention other issues, such as BOLI/COLI, TPS's collateral, DC court case, on and on. She is totally favor to Jpig and Fdic. She wants Wamuers stay in but with very limited recovery. The only one she dislikes it is HFs because of her boss 3rd appllete court's viewpoints against HFs in general.
The only chance Wamuers have a big return is in DC court. In any rate, let JMW keep us alive first in WMI2.
Actually, WMI decideded to take NOLs forward was because 4HFs/debtor sophisticated manipulate the BK process/results.
First, HFs/debtors don't want any waterfall reaching equities. Therefore, they wish to end the waterfall at "H" in order to own the WMI2. Also, they gave away assets free to JPig and Fdik. All their plan is to wipe out equities.
Second, they knew that there is 26B NOLs available in 2010. So, they want to take the advantage of NOLs by themselves. Unfortunately, LIBR knew their dirty plans and decided to postpone the ruling after 2010. Her decision made equities in money, and also turned everything upside down. This the only few things LIBR did good for equities. Otherwise, she is a clown, and not knowing on what is going.
LBHI BK case is too big to be controlled by few interesting group. I don't trust our debtor because who is the same one as Wamu. I trust The Honorable Judge Peck but absolutely not LIBR(JMW). We really the whole processing open and clear. But I don't know how. EC, probably or UST gets involved....
weird, Hummmmmmmm......hard to understand.
Unless, LBHI paid less tax for authorities due to some sort of arguments between them. So, after NOLs are being used up, LBHI is still owing taxes. Totally unbelievable.
We'll have Susman for decisive battle in DC. WMI2 will be survival with shareholders' participation. We all know the recovery for equities MIGHT minimum but with a great hope to win the WAR at the end. JPIC AND FDIK WILL PAY BIG PRICES.
But, I believe that LIBR had her decision made long time ago. All whatever had done in the hearing is non-sense. She will use the one to support her decisions but abandon the one to against her pre-set mind.
From all whatever had happened before, it is clearly indicating that LIBR will let shareholders stay in WMI2 but the recovery for equities is very limited. Otherwise, equities were wiped out long time ago. LIBR did not have to wait till the last minutes. She could simply ignore requesting EC, examiners, and Nat's points.
So, WMI2 will be survival. Then, WMI2 will be represented by Susman for the decisive battle in DC. Susman will be compensated by % of the recovery. That is pretty simple.
Please come back whenever you feel the right moment, and pick up some equities at your desired prices.
GO WMI2...........WE'LL WIN THE WAR.
If LBHI shoots for BK11 liquidation, then CTs are toast. If the residual value (i.e. other subsidiaries are not under BK11) is very limited, CTs are worth pennies.
If the above is false, CTs are survival.
IMHO