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.
IF FDIC IS NOT DONE YET, WMILT ALREADY DONE?, LOL.
Professional Liability Annual Report for 2023
https://www.fdic.gov/resources/resolutions/professional-liability/annual-reports/pl-2023-annual-report.pdf
Authorized and Pending Lawsuits
During 2023, the FDIC Board of Directors approved one, and delegated authority
approved four, MMF cases, all of which authorized the FDIC to sue mortgage brokers for
indemnification. The largest of the five approved cases is against CTX Mortgage Company,
LLC (CTX), and Pulte Mortgage, LLC (Pulte Mortgage) as successor to CTX, for loans that CTX
brokered to Washington Mutual Bank (WaMu), Henderson, Nevada, and that WaMu in turn
sold to RMBS trusts. The FDIC settled claims related to defective loans that WaMu sold to
RMBS trusts for a $3 billion receivership certificate. Because CTX contractually agreed to
indemnify WaMu for losses resulting from defective loans it brokered to WaMu, the FDIC seeks
to recover the portion of its settlement with the RMBS trustee attributable to losses on the
CTX loans. On August 28, the FDIC filed the approved lawsuit against CTX and Pulte Mortgage
in federal court in the Central District of California seeking contractual indemnification plus
attorney’s fees and pre-judgment interest. In total, the FDIC filed 11 MMF lawsuits during the
year. WaMu failed on September 25, 2008, with $307 billion in assets.
"LITIGATION TRUST"? https://www.fidelity.com/misc/wamu/WAMU-Class-19-Beneficial-Ballot-93934W-AA-3.pdf
Page 7/13 What is this Litigation Trust?.
o.k poo.
poo...lucky buyer and lucky seller too.just missed accounting 101.
Lo....you work for JPM?.What was PROJECT WEST?.
In FAQ they expressed that they may not monetize assets sufficient to distribute to Class 19 and Class 22, but in the closing motion they mentioned they just waited for class 18 distributions to reconcile other claims(probably class 19 and class 22 disputed claims) and monetize assets.
KCC/COURT SHOULD HOLD W-9 INFORMATION IMO.
Ballots were submitted to Nominees (brokerages like TD) and nominees send a master ballot to DTC. DTC process those details and issue stock or other instruments back to nominee in our case WMIH shares and Escrow CUSIPs.
But to receive LTIs from WMILT, LT needed W-9 information and number of shares associated, for that WMILT requested nominees to send those ballot information to KCC as per the FAQ.
Debtors and WMILT knew that it would take a long time, so they collected those details in the name of LTIs. KCC is cancelled as WMI LT agent except few services.The players know what they wanted for the ultimate distribution.IMO.
I dont know what you filed 16 years ago.
This is what i see with additional info such as dates starting from 04/15/2024. NONAME is LEHDQ.
Symbol Security Type Transaction Type Transaction Amount Income Type
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
LEHKQ Equities Interest 7968.75 Estimated
LEHKQ Equities Interest 3984.38 Estimated
LEHKQ Equities Interest 6021.59 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
LHHMQ Equities Interest 18750 Estimated
LHHMQ Equities Interest 3750 Estimated
LHHMQ Equities Interest 3750 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
LEHKQ Equities Interest 7968.75 Estimated
LEHKQ Equities Interest 3984.38 Estimated
LEHKQ Equities Interest 6021.59 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
LHHMQ Equities Interest 18750 Estimated
LHHMQ Equities Interest 3750 Estimated
LHHMQ Equities Interest 3750 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
LEHKQ Equities Interest 7968.75 Estimated
LEHKQ Equities Interest 3984.38 Estimated
LEHKQ Equities Interest 6021.59 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
LHHMQ Equities Interest 18750 Estimated
LHHMQ Equities Interest 3750 Estimated
LHHMQ Equities Interest 3750 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
LEHKQ Equities Interest 7968.75 Estimated
LEHKQ Equities Interest 3984.38 Estimated
LEHKQ Equities Interest 6021.59 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
NO NUMBER Cash & Money Market Interest 0.75 Estimated
LHHMQ Equities Interest 18750 Estimated
LHHMQ Equities Interest 3750 Estimated
LHHMQ Equities Interest 3750 Estimated
NO NUMBER Cash & Money Market Interest 0.01 Estimated
No problem. "(a) KCC may have not yet received correct W-8 or W-9 tax information on behalf of
the beneficial holder. Brokerage firms have been asked to provide this information on behalf of
their clients. If you believe you have not received an LTI due to insufficient tax information
being provided to KCC, please call or email your brokerage firm and ensure that they have
received confirmation from KCC that your tax information is certified and on file."
KCC must be maintaining those records, brokerage firms such as Schwab maintain such information only for 10 years.
CAL... THIS WAY THE FIND FAQ BY WMILT c. Information to be provided before an LTI is issued
If you were entitled to vote on the Plan and submitted a properly completed Ballot
to Kurtzman Carson Consultants, LLC (“KCC”) in connection therewith, you will not
have to take any further action before your LTI(s) can be issued because a properly
completed Ballot included all requisite information. Otherwise, before an LTI can be
issued to an eligible claimant pursuant to the Plan, such claimant must provide certain
information to the Debtors’ claims agent, KCC, who will then validate the
information and provide it to the Trustee. Such information includes the name and
contact details of the claimant who shall be the beneficial holder of the LTI when
issued and tax certifications such as a W-8, W-9, etc. Additional information
regarding the information that must be provided before an LTI can be issued is
available on KCC’s website at http://www.kccllc.net/. If such information is not
provided, the applicable LTI cannot be issued by the Liquidating Trust.
https://www.kccllc.net/documents/8817600/8817600210115000000000001.pdf
Investment Income - Schwab - Try Export to excel file and see which security is getting dividends from 04/15/2024.Its fun to see on paper.
And you are chewing it on 24x7 and don't like to move on because you like it?.
Great explanation about Trusts https://apiexchange.com/articles/legal-and-tax-update-v12-trusts-and-1031-exchanges.pdf
lo... you are right, move on.
GREAT VIDEO ON TRUST ADMINISTRATION
US LIBOR Transition Timeline for Debt Securities
https://www.dtcc.com/-/media/Files/Downloads/Settlement-Asset-Services/Issuer-Services/DTCC-LIBOR-Cessation-Roadmap.pdf
Subject to certain limited exceptions, the Liquidating Trust Interests are not transferable or assignable.
LTIs are not transferable or assignable except by will, intestate succession or operation of law. Accordingly, there is no liquid trading market in the LTIs. Under certain circumstances, transfers of LTIs have been permitted upon the winding up or dissolution of vehicles that previously held LTIs on behalf of such vehicles or the beneficiaries thereof. There can be no assurance that the Trust will consent to any such transfers in the future.
THERE WAS A FUTURE FOR WMILT IN 2018?.
Or Fin Fam 5 Needles?.
Woodway Fiduciary & Advisors LLC agreement should give some insights.
As per AI ""Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets."
This statement appears to be part of a larger document related to closing the Chapter 11 bankruptcy case for Washington Mutual. Here's the translation:
"Beyond this..." This implies there were some previous actions already taken to address the majority of the bankruptcy process. These could include things like selling off most assets, resolving creditor claims, etc.
"...the Bankruptcy Court and WMILT..." The Bankruptcy Court oversees the entire legal process, and WMILT (WMI Liquidating Trust) is likely the entity formed to manage the remaining assets and resolve outstanding issues.
"...merely waited..." This sounds dismissive but carries a practical meaning. It indicates that the active phase of managing the bankruptcy is largely complete.
"...final reconciliation of remaining claims..." Some creditors likely have outstanding claims unresolved. This could involve disputes over the amount owed, the validity of the claim, etc. The process is about finalizing and settling those remaining claims.
"...monetization of assets." Some assets likely remain from the initial Washington Mutual estate. This refers to the process of selling those assets (which might include things like real estate or intellectual property) and converting them into cash.
In Summary: This statement indicates that the Washington Mutual bankruptcy case was winding down. The major tasks had been completed and the focus was on resolving the last few outstanding claims and selling off any remaining valuable assets.
Franchise Tax Ended The entity's franchise tax responsibilities ended because the entity has ceased to exist in its state or country of formation or has ceased doing business in Texas.
https://mycpa.cpa.state.tx.us/coa/coaSearchBtn
PALADIN ACQUISITIONS CORPORATION
Texas Taxpayer Number 32080035093
Mailing Address 31571 SKY BLUE RDG FAIR OAKS, TX 78015-4086
Right to Transact Business in Texas FRANCHISE TAX ENDED
State of Formation DE
Effective SOS Registration Date 07/07/2021
Texas SOS File Number 0804145173
Registered Agent Name CORPORATION SERVICE COMPANY DBA CSC - LAWYERS INCO
Registered Office Street Address 211 E. 7TH STREET, SUITE 620 AUSTIN, TX 78701
---------------------
Dissolution Date
18 October 2023
https://opencorporates.com/companies/us_tx/0804145173
------------
WMILT closed on 25th Sept 2023 with department of revenue of WA state.
CAL... it depends whether one submitted W-9 or not?. Book entry?.
Holders of Avoidance Actions Trust Interests are encouraged to consult their tax
advisors regarding the application of backup withholding, or income tax withholding.
f. Does the Trust need any documentation or tax forms from holders of
Avoidance Actions Trust Interests to register their Avoidance Actions
Trust Interests?
The Trust does not require tax forms to register Avoidance Actions Trust Interests, but
does require an IRS Form W-9 or the appropriate version of Form W-8, or any applicable Puerto
Rico Treasury Department forms, waivers or certifications, from each holder of Avoidance
Actions Trust Interests that will receive distributions directly from the Trust in order to conduct
tax reporting, including informative returns to the Puerto Rico Treasury Department, and to
make appropriate distributions or withholding. Avoidance Actions Trust Interest holders will be
notified by the Trustee if the necessary forms are not already on file.
2.6 Transfers of Avoidance Actions Trust Interests.
(a) General. Avoidance Actions Trust Interests shall not be transferable or
assignable except by will, intestate succession or operation of law.
(b) Book Entry System. The Book Entry System shall include a register (which
may be electronic) setting forth the names and addresses of the Avoidance Actions Trust
Beneficiaries, and the amount and class of their Avoidance Actions Trust Interests from time to
time. Any transfer or assignment of an Avoidance Actions Trust Interest by will, intestate
succession or operation of law shall not be effective unless and until such transfer or assignment
is recorded in the Book Entry System, which shall be completed as soon as practicable. Subject
to Section 2.4(d) hereof, the entries in the Book Entry System shall be conclusive absent manifest
error, and the Avoidance Actions Trust and the Trustee shall treat each Person whose name is
recorded in the Book Entry System pursuant to the terms hereof as the owner of Avoidance Actions
Trust Interests indicated therein for all purposes of this Trust Agreement, notwithstanding notice
to the contrary.
https://cases.ra.kroll.com/PRAATrust/
Another case Mr.Smith will be engaged with atleast for a decade imo.Same language like wmilt about book-entry.
This is what i see in my account.
Investment Income
close modal
Current Year (2024) Interest Dividends Total
Received Income YTD $0.14 $0.80 $0.94
Estimated Income Remaining $132,674.26 $0.00 $132,674.26
Monthly Average $11,056.27
Prior Year (2023)
Total Income -$3.41 $0.00 -$3.41
Monthly Average -$0.28
Next 12 Months (Apr 2024 - Mar 2025)
Total Estimated Income $176,899.02 $0.00 $176,899.02
Monthly Average $14,741.58
Month Interest Dividends Total
January 2023 - Received -$1.37 $0.00 -$1.37
February 2023 - Received -$0.21 $0.00 -$0.21
March 2023 - Received -$0.52 $0.00 -$0.52
April 2023 - Received -$0.18 $0.00 -$0.18
May 2023 - Received -$0.60 $0.00 -$0.60
June 2023 - Received -$0.08 $0.00 -$0.08
July 2023 - Received -$0.17 $0.00 -$0.17
August 2023 - Received -$0.28 $0.00 -$0.28
September 2023 - Received -$0.03 $0.00 -$0.03
October 2023 - Received $0.01 $0.00 $0.01
November 2023 - Received $0.01 $0.00 $0.01
December 2023 - Received $0.01 $0.00 $0.01
January 2024 - Received $0.07 $0.40 $0.47
February 2024 - Received $0.07 $0.40 $0.47
March 2024 - Received $0.00 $0.00 $0.00
March 2024 - Est. Remaining $0.00 $0.00 $0.00
April 2024 - Estimated $26,250.01 $0.00 $26,250.01
May 2024 - Estimated $0.01 $0.00 $0.01
June 2024 - Estimated $17,974.73 $0.00 $17,974.73
July 2024 - Estimated $26,250.01 $0.00 $26,250.01
August 2024 - Estimated $0.01 $0.00 $0.01
September 2024 - Estimated $17,974.73 $0.00 $17,974.73
October 2024 - Estimated $26,250.01 $0.00 $26,250.01
November 2024 - Estimated $0.01 $0.00 $0.01
December 2024 - Estimated $17,974.73 $0.00 $17,974.73
January 2025 - Estimated $26,250.01 $0.00 $26,250.01
February 2025 - Estimated $0.01 $0.00 $0.01
March 2025 - Estimated $17,974.73 $0.00 $17,974.73
Its not letting me paste it.
I don't have that feature goodie.Its showing up under Investment Income tab as interest.
Next 12 months Investment Income(Under Investment Income) showing as $174000.
Schwab is showing $26000 dividend from April 2024 quarterly in my account, LOL.
APPARENTLY THERE IS NO COMMUNICATION FROM WMILT ON WMI's CREDITOR CLAIMS IN WAMU RECEIVERSHIP.WHO WOULD RECEIVE IT?.WHO WOULD PROCESS THE DISTRIBUTION TO EQUITY HOLDERS OF WMB AND BANK HOLDING COMPANY EQUITY HOLDERS IF THERE IS A DISTRIBUTION HYPOTHETICALLY SPEAKING, WHY DID FDIC TOOK WAIVER FROM CERTAIN MORTGAGE COMPANIES ALONG THESE LINES OF BEING FORMER EQUITY HOLDER OF WMB OR WMI?.
Subject to certain limited exceptions, the Liquidating Trust Interests are not transferable or assignable.
LTIs are not transferable or assignable except by will, intestate succession or operation of law. Accordingly, there is no liquid trading market in the LTIs. Under certain circumstances, transfers of LTIs have been permitted upon the winding up or dissolution of vehicles that previously held LTIs on behalf of such vehicles or the beneficiaries thereof. There can be no assurance that the Trust will consent to any such transfers in the future.
https://www.sec.gov/Archives/edgar/data/1545078/000119312518097841/d503450d10k.htm
What exactly did they mean about submissions of W-9 or W-8 info?.
DOES N'T IT SAY EQUITY RECEIVED LTIs?
SEATTLE, April 3, 2012 – The WMI Liquidating Trust (the “Liquidating Trust”), which was formed pursuant to the recently confirmed Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code (as modified, the “Plan”) of Washington Mutual, Inc. (“WMI”), today announced that on or about April 16, 2012, it will begin issuing summary statements to holders of Liquidating Trust Interests who returned a Form W-8 or Form W-9 in connection with the solicitation of acceptances on and elections pursuant to the Plan. As previously announced, the Plan became effective on March 19, 2012.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000140/mm04-0612_8ke992.htm
EC RECEIVED LTI's AND TRANFERRED THOSE INTERESTS USING SEVERAL FINANCIAL VEHICLES FOR WHICH THEY DID NOT CONSENT TO RELASE ANY INFO?.
STRIKE... thats a good question.During chapter 11 cases were open they provided accounting thru MORs, they used the books and records what the restructuring officers created for Debtors, in the case A&M. TAB went thru claims processing, there were so many bogus claims filed like FDIC $55B, JPM $55B,MARTA,BOILER MAKERS around $30 B if i am correct.And there were so many hedge funds bought equity after filing bankruptcy including JPM i guess.
Do you remember 8-K released by WMI in Feb or March in 2012 mentioning about they were closing their books and records?.A&M opened new set of books during ch11 and at the end of class 18 payment they appointed administrators whose job is to open the tax books and records of all assets held in the DST.That part is wind-down process and during that time,they could also pursue litigations too.I think in 2016 they mentioned there was no litigation any more, but during closing of the cases they mentioned they could start legal cases if there is a necessity.MW and Southard must be working with S&G and Woodway or some other company name.
LIQUIDATING TRUST RESTATED AND AMENDED AGREEMENT MUST HAVE ALL THOSE DETAILS AND THEY JUST HIDED IT.I am not trying to convince you or anyone, just saying that ITS NOT OVER YET.
If GSA did not settle WMI's creditor claims with FDIC, who would fight for that now?.WOODWAY?.