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True, The Escrows Don't Own the Trusts.
The Common Equity Escrow own the company that owned participation in many of the ABS Trusts it's subs created and other securitization offerings as investors.
The Preferred Equity Escrow own the REIT series of Trusts and benefit from these securitizations.
All IMO.
Yes, AZ is Right.
By Example;
Long Beach Mortgage Loan Trust 2000-1
Asset Backed Certificates
March 21, 2019 Distribution
The ABS Trusts Trustees are making distributions. The language of a ABS prospectus reads that all Creditors of the BK must be addressed before distributions can resume. The last WMI creditors were addressed and paid in full on Feb 25th. Now that all creditors are addressed, the ABS Trusts Trustees can commence with distributions to the holders of the Certs.
So yes we should be experiencing distributions at anytime now. There is no reason not too.
Unless;
I hope Alice's sloppy filing didn't gummed-things-up.
=> AZ is Right <=
"On July 31, 2018. Mr. Smith received a special cash bonus of $2.4 million".
About one Month (8-30-2018) later B. Rosen filed Doc #12499 to commence the closing of the cases.
59. With the determinations reached in the Declaratory Judgment Action, and, in the event that the Court grants the relief requested herein deeming the Claims disallowed and authorizing the release of assets in the Disputed Claims Reserve, upon such order becoming final and assets being distributed, WMILT would agree to the dismissal of the Adversary Proceedings with prejudice. WMILT submits that such action would be a fair and reasonable result and preserve the Debtors’ assets for distribution to others. Equally important, the dismissal of such litigations would remove the remaining actions in the Debtor’s chapter 11 cases and permit the closing of these cases.
Yes AZ, it's all about Process, and COOP is the 'tell'.
Tranche 4 is paid in full.
Tranche 5 is all about WMB issues.
Tranche 5 is now the active Tranche.
The FDIC operates on a quarterly bases.
“Purchase and Assumption Agreement”.
I don't think we will ever see the; (as amended, modified or supplemented, the “Purchase and Assumption Agreement”) version.
IMO, If MARTA Has to Refile against WMI.
Then We have NOT been paid for WMB and are still harmed by the FDIC's illegal seizure of "WMB and it's assets".
The GSA needs to be fulfilled with Payment. Tranche 5 addresses WMB issues, and is now the active Tranche.
The FDIC has normally a quarter to close items from the previous quarter.
Again, IMO;
JPM paid at the EOY 2018. Now the FDIC will close the 'items' at the end of the following quarter, or early in the second quarter. The First quarter was used to close the Books.
That's My opinion and Hope. The timing works.
FDIC receives payment from JPM EOY 2018.
Last WMI creditors in Tranche 4 is closed Feb 25th.
WMB Tranche 5 is now the active Tranche.
Remember The Washington State Lost-and-Found?
Global Settlement Agreement Receivable.
[b]While the value of the tax litigation is zero, the value of the state tax refunds due and received, the potential for recovery of interest netting claims, and the return of excess funds in the Tax Refund Escrow is sufficient to support the valuation of $5.3 million.
Currently WMI Still Holds the Title of WMB.
WMI only released the Equity Interest in the Stock of WMB, not the Title. Yes WMI released all rights and title (control), but not the Title. That is what Doc #5885 is all about.
"WAAC and WMMSC are affiliates of the Debtor."
Because WMI still has Title to WMB, "the Bankruptcy Court has indicated that it will allow one Claimant to re-file its proof of claim" (MARTA) is valid until "the Final Payment" for "WMB and it's assets" is received, and the Title of WMB is transferred to JPM through the FDIC with the FDIC's payment.
Tranche 5 is now the active Tranche, which is the pay-point for WMB.
“Purchase and Assumption Agreement”.
Page2;
Overview of Chapter 11 Bankruptcy of the Debtors and Liquidating Trust Agreement
On September 26, 2008 (the “Petition Date”), the Debtors filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the Bankruptcy Court (Case No.08-12229 (MFW)) after the Director of the Office of Thrift Supervision appointed the Federal Deposit Insurance Corporation (the “FDIC”) as receiver for Washington Mutual Bank (“WMB”), a subsidiary of WMI, and advised WMI that the receiver was immediately taking possession of WMB’s assets. Immediately after its appointment as receiver, the FDIC sold substantially all the assets of WMB, including the stock of WMB fsb, to JPMorgan Chase Bank, National Association (“JPMC”), pursuant to that certain Purchase and Assumption Agreement, Whole Bank, dated September 25, 2008 (as amended, modified or supplemented, the “Purchase and Assumption Agreement”).
"as amended, modified or supplemented". Hence; The GSA.
All of Tranche 5 is JPM's responsibility to Pay. 510(b) is the Pay-point to WMI from the FDIC.
We await "The Final Payment" to WMI from FDIC for "WMB and it's assets".
Lodas, Alice Hid Behind Hoffman's Skirt,
in an effort to unseal a document filed by the Equity Committee. This filing by Hoffman promoted by Alice was working against the Equity Committee.
Yes, and many other actions that worked against equity holders.
Lodas, OK. Make Your Donation to,
Alice to prolong distributions to Class 19.
"I would rather lose time than money".
You have already lost a lot of time with no money. Two losses.
Alice's filings are uncalled for and moot. No Objection have been requested.
"she is asking for is to see the stipulation the Wmilt made with the underwriters,"
We have not seen the details of the GSA either, and you won't.
Alice is wasting your money from donations and My time for distributions. You can waste your money, but please don't waste my life awaiting for My Money.
Lodas, Its All About the Paper Trail.
The Paper Trail is what did-in Michael Avenati.
The Court Documents are correct and are the paper trail of record.
The US Trustee oversees all transactions and settlements.
The WMILT Trustee just fulfilled his job with the Underwriter Settlement, and No 8K is required.
"after all, A/M submits bills for 8 years without disclosing what they are doing"
If you understood Nunc pro tunc for A&M, you wouldn't ask that question.
~Oct 3rd 2008.
"Nunc pro tunc (English translation: "now for then") is a Latin expression in common legal use in the United States, the United Kingdom, and other countries."
Hint; Please see the First first filing BK #28 (WMIIC) joined administratively to #29 (WMI).
Yes Raju, There is also No Request for,
Objections to the Underwriters Stipulation. Alice's filing is hopefully moot, and is uncalled for but can easily gum-up Class 19 distributions and other distributions with new filings as the Court takes the time to hear the "Objections" filings.
Is Objecting to the GSA next? Currently the GSA is not closed like payment to Underwriters Class 19 compensation.
Please, Cease and Desist the junk filing.
HLCE is Delayed due to Alice's Junior Lawyer actions creating a revenue stream from 'donations' for moot filing. Wasting time for no reason.
Split, But the Trustees of Class 19 Associated ABS Trusts,
can not make a distribution until the issue is resolved because they don't know how much to distribute and to whom with the open First Omnibus Objection.
All WaMu ABS Trusts were free to distribute because Tranche 4 is closed.
Now Class 19 ABS Trusts (REITS) are now tied-up until Doc #12595 is resolved.
Better ?
Alice says she has more filing coming. How much more time is she going to cost us impeding distributions while playing Junior Lawyer?
HLCE is Delayed.
Thanks Alice.
Pick, Trustees of Class 19 Associated ABS Trusts,
Don't know how much to distribute and to whom with the pending litigation.
"(b) the Underwriters’ $72 million Settlement Amount claim was allowed in full, not as a subordinated claim (“Class 18”), but among Class 19 (“Class 19”) which is preferred equity (the “Underwriter’s Class 19 Claim”)."
PDF 3/77, bottom of page;
http://www.kccllc.net/wamu/document/0812229190322000000000001
Alice's Filings Are Impeding Class 19 Distributions.
All WaMu ABS Trusts were free to distribute because Tranche 4 is closed.
Now Class 19 ABS Trusts (REITS) are now tied-up in litigation.
Yes, Pick, Alice just cost us six month Minimum playing Junior Lawyer.
Alice's Filings Are Impeding Class 19 Distributions.
All WaMu ABS Trusts were free to distribute because Tranche 4 is closed.
Now Class 19 ABS Trusts (REITS) are now tied-up in litigation.
Yes, Goodie, Bop Just cost us six month Minimum playing Junior Lawyer.
LG, Still Can't Answer the Question Can You.
? NOLs ?
BBob, I Own P's and I'm Not Happy,
with Alice's gumming-up distributions pretending to be a real lawyer.
No BBob, The ABS Distributions,
are NOT dependent on the DER distribution.
DER is from the last of WMILT. The WMILT has No control of the ABS Trusts. The ABS Trust are free to distribute because Trance 4 is closed. But now the ABS Trusts of Class 19 are in compromising litigation due to Alice's filings.
LG, That Was Not My Question.
Are You Talking about NOLs,
Ownership Change?
What would that Ownership Change be on Effective Date of 3/19/2012.
Ownership of what changed?
Name It !
You Nor Mordi Know That !
Distributions from multiple sources are free to distribute because all Claims and Obligations of the Debtor and WMILT have been satisfied.
The ABS of which Class 19 are coupled to (REITS) can't distribute if in litigation.
Cease and Desist !
So What, Cease and Desist !
These poorly conceived Junior Lawyer game are holding up distributions to Class 19 and Class 22.
Please, Cease and Desist !
LG, Are You Talking about NOL,
Ownership Change?
What would that Ownership Change be on Effective Date of 3/19/2012.
Ownership of what changed?
Name It !
BBob, I Don't Care if Alice,
did this as requested by another. Alice should have known that it's a big waste of your money and all of our time. Alice's filing could every easily cost a lot of time before We see distributions. Add six months MIN.
Yes I Ridicule Alice for Doing This.
This is just like when Alice used Hoffman (sgtofarmsone) to get the Sealed Document un-sealed. How did that work out for you?
You can waste your money all you want, but don't waste my time creating delays of my distributions.
Cease and Desist !
Yes I Ridicule Alice for Doing This.
This is just like when Alice used Hoffman (sgtofarmsone) to get the Sealed Document un-sealed.
You can waste your money all you want, but don't waste my time creating delays of my distributions.
Cease and Desist !
LG, Are You Talking about NOL,
Ownership Change?
What would that Ownership Change be on Effective Date of 3/19/2012.
Ownership of what changed?
Name It !
Class 19 is Supported by,
$10B to $13B in ABS for a $7.5B claim.
There is more than enough Money to go around to fully satisfy all Equity Classes. Now time is our enemy.
Stop impeding the Distribution process !
Thanks Alice for Costing Us Six More Months,
of worthless litigation.
Famous for the wrong reasons.
Each Reserve was Set-up for a Specific Task.
DCR for remaining Creditors and Claimants litigation and payments.
DER for equity interests of Creditors and Claimants if litigation is successful.
RE/DCR for Tranche 6 after completion of above. See February 29th 2012 MOR.
IMO Regarding 75%/25%.
75%/25% regards the items moved to/into the WMILT. About 5 subs, the DCR, the DER, and RE/DCR. The Retained Earning of $20.7 Billion as of February 29th 2012 MOR. Yes, 2012 was a leap year.
The WMILT documentation is regarding the WMILT. The WMILT was set-up with sufficient funds to pay the remaining Claims and Claimants, with just a little left over to close the Cases.
In principle; If those Runoff-notes made more money the WMILT may have needed to issues LTI's to equity holders. But that did not happen now did it. At this point, the WMILT only action is to distribute the DER and Close the Cases.
Just from the RE/DCR alone, class 19 could see close to 3X face due to many years of interest.
The Reorganized Debtor is NOT part of the WMILT, nor the WMILT's 75%/25% methodology.
Hence; 75%/25% is NOT Global.
COOP Shares for Value is one-for-one, NOT 75%/25%.
Commons for commons.
Preferred for Preferred.
Yes, I also own Class 19s.
Lucky for us, Bop Pro Se filing for herself and others shouldn't stop the process for DER, RE/DCR, "The Final Payment", S4V distributions.
If it does cost us more months, then you have her to blame at the same time she took your money also.
HLCE,
Ron
?There May Be No Assets Forthcoming to Escrow Holders?
I find it amazing that some WMI investors doubt the return Assets, both Property and Cash returning to Escrow Holders.
The WMB Notes are JPM responsibility as closure to Change-in-Control. The WMB Notes payment does not come out of WMILT's pocket, nor the Debtors.
The Goodies;
DER
RE/DCR
363/365 Sale
Payment for "WMB and it's assets" consummating CIC.
Subs of WMI's investment participation in ABS Certs.
Valuation of other WMI subs that did not passthrough to the WMILT.
COOP Shares for Value for ongoing preforming subs/assets.
Now that all WMI Claims and Obligations are Finished/Closed, the above Goodies are free for distribution.
That is why I say;
HLCE,
Ron
What About the AT&T Settlement?
Is Bop going to object to the AT&T Settlement also? That took monies away from equity also?
See PDF 71.
Bop may just have cost you another month or more just for her fame.
All this was settled back in 2012-2013.
Bopfan has been Busy.
CSNY.
Court Docket: #12595
Document Name: First Omnibus Objection to Claims 3935 and 4045. Filed by Alice Griffin. Hearing scheduled for 4/22/2019 at 11:30 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #4, Wilmington, Delaware. Objections due by 4/12/2019. (Attachments: # (1) Notice # (2) Notice # (3) Service List) (Griffin, Alice)
Date Filed: 3/22/2019
Hearing scheduled for 4/22/2019 at 11:30 AM at US Bankruptcy Court
See PDF 69/77.
Requested signing date is April.
http://www.kccllc.net/wamu/document/0812229190322000000000001
08-12229-MFW Washington Mutual, Inc. and Joshua R. Hochberg, the Examiner Ch. 11
Pro Se Objection to 2 Claims
http://www.deb.uscourts.gov/sites/default/files/moveit/MFW.html
No Hochberg was not there.
HM, Yes The WMI-LT Is Pretty Much Irrelevant Now.
"DER held a de minimus amount of cash."
You and AZ are right; The WMI-LT Is Pretty Much Irrelevant Now.
The $20.7B is coming, and all the other stuff with no need for the WMI-LT.
HM, You tell Us What YOU Think,
is the source of the cash rather then jumping on anyone possible explanation.
It looks like the WMILT only has one more function/event left of shares and cash.
The $20.7B is trivial compared to the $299B "WMB and it's assets" payment, or the more than two Trillion in ABS Certs accumulation and future payments that WMI subsidiaries invested in.
So; Yes The WMI-LT Is Pretty Much Irrelevant Now.
We Can Smell the Sausage, but We Can't See It.
Yes, all avenues needed to be closed to would-be fictitious claims that will arise when the money hits.
HM, What Do You Think the Cash,
in the Disputed Equity Escrow is referencing? Where did it come from? I was just looking for a possible source for the Cash. The target for distribution is Equity Escrow Holders as the $20.7B RE/DCR would be.
"The shares and any cash that may be distributed on behalf of the shares are held in a separate escrow account that is not recorded as an asset of the Trust."
Feb 25th 2019 Doc 12585 freed-up all the stuff in the other Claim Reserves. The DCR normally talked about was set-aside the Employee Claimants. There is other Reserves, like the Disputed Equity Escrow, and the Retained Earnings/DCR, and 363/365 Sale that are designated for Equity Escrow Holders now that all Claims and obligation have been removed from the Debtor Estate-WMI/WMIIC.
HM, the WMI-LT was created to pay-off the Claims and obligation of the Debtor Estate-WMI/WMIIC, which is now completed as of Feb 25th 2019 with Doc #12585 and Creditors distributions.
So; Yes The WMI-LT Is Pretty Much Irrelevant Now because all Claims and Obligation are closed.
Someone please tell jerry I don't read his reply.
HM, $20 bucks is all you will get.
You just like to argue and it's all that you are capable of.
Yes The WMI-LT Is Pretty Much Irrelevant Now.
HLCE for us others that invested correctly,
Ron
No HM, Thats $20.7 Billion in,
the Retained Earning/DCR from the FEB MOR 2012.
Don't forget about the 363/365 Sale that is also NOT an assets of the Trust (WMILT), all destined for the Equity Escrow Holders distributed by KCC/DTC-DTCC, A&M.
No need for an LTI from the WMI-LT.
HM, Yes The WMI-LT Is Pretty Much Irrelevant Now.
As Note 6 says;
"The shares and any cash that may be distributed on behalf of the shares are held in a separate escrow account that is not recorded as an asset of the Trust."
The Cash was de minimus As of December 31, 2018.
Note 6: Disputed Equity Escrow
Yes, the last sentence is a typo; Should be As of December 31, 2018
"As of December 31, 2019, 128,857 shares of Reorganized WMI common stock and a de minimus amount of cash, remained in the Disputed Equity Escrow."
Others; Please see the Replied to post to read Note 6 carefully.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=147701747
Feb 25th 2019 Doc 12585 freed-up all the stuff in the other Claim Reserves. The DCR normally talked about was set-aside the Employee Claimants. There is other Reserves, like the Disputed Equity Escrow, and the Retained Earnings/DCR, and 363/365 Sale that are designated for Equity Escrow Holders now that all Claims and obligation have been removed from the Debtor Estate-WMI/WMIIC.
HM, the WMI-LT job is to pay-off the Claims and obligation of the Debtor Estate-WMI/WMIIC, which is now completed as of Feb 25th 2019 with Doc #12585 and Creditors distributions.
So; Yes The WMI-LT Is Pretty Much Irrelevant Now.
HLCE if you invested correctly,
Ron