Great Find AZ, Updated.

~ Limiting The Employee Claimant Recoveries Pursuant To Section 502 Of The Bankruptcy Code ? ~

So the Employee claimants are limited because of BK Section 502 in this case not just because of FDIC rules.

So their claim is already defined. They just wasted a lot of theirs and ours; time and money.

Class 17 needs to be paid before Class 18 can !

Class 17 is paid by JPM after Change in Control is completed.

Markets Closed on Wednesday to Honor Pres. Bush

We Have No Way of Knowing,

the value of "the Final Payment".

$299B for "WMB and it's assets", then subtract liabilities for RMBS put-backs. Don't subtract off the WMB deposit base because it never became a liability to WMB or the FDIC because it was transferred intact to JPM.

It's a BIG Number, so just relax...

JPM raised $1,400B or $1.4T in Euro Notes[Bonds] January 20th, 2017.

RICO, "Willful Misconduct", 3X in Damages.


HLCE,
Ron

It's All About Change In Control.

Change In Control has NOT happened yet. IMO, the Employee Claimants never needed to litigate their claims, but just wait for Change In Control to happen.

Change In Control happens when the FDIC pays WMI for "WMB and it's assets" with "the Final Payment".


"Certainly, the basic Payment Applications themselves provide some context necessary to understand the FDIC Determinations. In fact, based on our review of the basic Payment Applications provided, it has now become clear to us why WMILT consistently rebuffed the employee claimants’ requests for the Payment Applications, and why WMILT pushed so hard for the entry of a modified order on the Dismissal Motion even before it finally turned over the basic Payment Applications to us. These documents reveal that there are numerous claims, with claim values in the tens of millions of dollars that were either (i) not specifically submitted to the FDIC for determination, or (ii) not considered/prohibited by the FDIC in its determination letters. These claims are in addition to those we initially identified and brought to the Court’s attention prior to the Hearing. This very recent discovery directly undermines the specific representations made by WMILT to the Court, and to the claimants, that the FDIC had specifically considered all remaining claims and had determined that payments on any of the claims - to any of the Claimants - were prohibited. At a minimum, this discovery provides grounds for our clients’ request for access to these additional administrative documents and sealed filings and records. "


IMO, the reason Rosen is moving forward is because Change In Control is happening.

Example; JPM paid FDIC Corporate "the Final Payment" for "WMB and it's assets".
Now WMI awaits "the Final Payment" for "WMB and it's assets" from FDIC Receiver to complete Change In Control.

The $1.9B was just an FDIC-R administration fee based of one percent of the WMB deposit base, and has nothing to do with the value of "WMB and it's assets".
WMB turned customer deposits into assets. That is what banks due.

LP, On or before December 5, 2018


9.
On or before December 5, 2018, (i) Claimants holding Surviving Claims shall submit supplemental briefing and evidence in support of the allowance of the Surviving Claims, and (ii) WMILT and Claimants holding Surviving Claims shall submit briefing and any evidence supporting their respective requests for attorneys’ fees.

10.
On or before December 17, 2018, (i) WMILT shall submit its response to Claimants’ December 5th supplemental briefing, inclusive of any evidence regarding the allowance or disallowance of the Surviving Claims, and (ii) WMILT and Claimants holdingSurviving Claims shall submit their respective response in opposition to any request for attorneys’ fees, inclusive of any evidence in support of their opposition.

11.
Upon review of the parties’ submissions, the Court will direct the parties regarding next steps, including with respect to the scheduling of a hearing on the parties’ submissions and the allowance or disallowance of the Surviving Claims.


#12563
http://www.kccllc.net/wamu/document/0812229181119000000000001

Lodas, What is Your Understanding;

regarding JPM's $57 Trillion in derivative contracts backing ABS Trusts and then in continuum to the Trusts fulfillment as an 'insurer'?

HINT;
WaMu/WMI-WMB ABS Base where and are still 'insured'. AAA. Down graded... Why?


How was WaMu/WMI-WMB ABS Base insured?

You are Welcome BD.

I talked with AZ, and he explained it to me [My best effort to restate the conversation regarding the Final Order in my simple form];

Doc 12499 was Motioned to the Court on Oct 16th and Ruled on from the Bench on Nov 1st. Doc 12563 is the restatement of Doc 12499 and the Ruling from the Bench from Nov 1st, and then distributed to all Claimants Adversary Cases Dockets on Nov 19th. Hence; The Final Order, and by distributed to all Claimants Adversary Cases Dockets, the signature we are expecting from THJMFW is the restatement of Doc 12499 and the Ruling from the Bench on Nov 1st in Doc 12563.

Please read Doc 12563 very slow. Doc 12563 is a restatement of Doc 12499 and the Ruling from the Bench from Nov 1st, and therefore the Final Order.


As Always;

=> AZ is Right <=


IMO;
November !
Only one week left...

HLCE,
Ron

I understand that Dec 15th is;

Class 17's normal Annual [Bi-annual?] distribution date. Dec 1st is the 'Holder of Record' date.

IMO, Tranche 4 needs to be closed just before 'Holder of Record' date to commence distributions.


5. On November 1, 2018, the Court held a hearing (the “November 1 Hearing”)regarding the competing forms of order submitted by WMILT and counsel for certain Claimants. At the November 1 Hearing, the Court ordered certain additional briefing with respect to the Surviving Claims. Additionally, at such time, it was discussed that entry of an order with respect to the undisputed items would be deferred. However, as discussed below, due to the undisputed nature of such items, as well as the desire to provide distributions with respect thereto to holders of allowed claims, WMILT is hopeful that the Court would econsider its prior position. This is especially so, as the Claimants have expressed an intention to appeal from any order and it would
be in the creditors' interest to commence that process.

6. Based on the foregoing, following the November 1 Hearing, counsel to WMILT prepared a modified form of the Claimants’ Proposed Order that (i) carves out the Surviving Claims from the relief granted at the October 16 Hearing and (ii) sets forth the schedule for the additional briefing with respect to the Surviving Claims requested by the Court at the November 1 Hearing (the “Revised Proposed Order”). On November 13, 2018, counsel for WMILT provided a draft of the Revised Proposed Order to counsel for certain Claimants for their review and comment. On November 14, 2018, counsel for certain Claimants informed counsel for WMILT that they do not consent to entry of the Revised Proposed Order until after the submission of the additional briefing.

7. WMILT believes that the Revised Proposed Order is consistent with (i) the ruling on the record at the October 16 Hearing, (ii) the relief requested in the Claimants’ Proposed Order, and (iii) the Court’s ruling on the record at the November 1 Hearing. In fact, the Revised Proposed Order is based on the Claimants’ Proposed Order and only adds additional paragraphs to account for the additional briefing requested by the Court with respect to the Surviving Claims. WMILT understands counsel for certain of the Claimant’s concerns. However, WMILT believes that entry of the Revised Proposed Order is necessary to ensure that there is not a further deterioration to recoveries for other creditors due to not making distributions to holders of allowed claims and thus permitting additional interest to accrue on their claims and diminishing or eliminating the recoveries which may be made to creditors lower in the waterfall.

http://www.kccllc.net/wamu/document/0812229181119000000000001

Thanks AZ.

Yes, the Adversary Case Proceeding dockets are now showing Doc #12563.
http://www.kccllc.net/wamu/info/3950

Doc #12563;
http://www.kccllc.net/wamu/document/0812229181119000000000001

Example;
WMI Liquidating Trust v. Bjorklund et al., Case No. 12-50965
http://www.kccllc.net/wamu/document/list/3959

Same for;
WMI Liquidating Trust v. Darakhovskiy, Case No. 12-50902

5. Kurtzman Carson Consultants, LLC, WMILT’s court-appointed claims and noticing agent, is authorized and directed to delete the Claims, except for the portions of the Claims constituting Surviving Claims, from the official claims register in the Debtors’ chapter 11 cases and take any other actions necessary to implement the relief granted herein.


IMO, Yes BD, Rosen is in a hurry to get this moving. The distributions to Class 17 are ready, but Tranche 4(PIERs) need to close.

And if Class 17 is in the works, then "the Final Payment" to WMI for "WMB and its assets" is in the works also.


We are ready...
HLCE,
Ron

Please Remember That Change in Control,

has NOT taken place yet.

We await "the Final Payment" to WMI for "WMB and it's assets" to complete CIC.

The FDIC-JPM is reasonable for satisfying Class 17, both subclasses A and B. Not WMI/WMILT.


The Class Responsibilities;

Class 16; WMILT.

Class 17 A and B; JPM.

Class 18 Surviving Claims; WMILT.

Class 18 Other Claims; JPM.

Class 19 and 22; WMILT and the WMI Holdings in assets in WMIIC.


The FDIC needs to close the GSA with "the Final Payment" to WMI for "WMB and it's assets" along with the payment by FDIC from JPM to Class 17 to complete the granting of Releases.

TJMFW rules on CIC in February. If CIC is NOT completed by then, then NO GSA. If NO "the Final Payment" to WMI for "WMB and it's assets", then NO Releases to FDIC/JPM.


IMO, February is drop-dead date for completion of all payments to be made to complete GSA, and then close the Cases.

Remember; WMB never really 'FAILED'.
Doc 1997 PDF ~430/825. RICO.

CIC;
PDF 19/90
http://www.kccllc.net/wamu/document/0812229181022000000000002

No Payment, No Releases.

Class 16; WMILT.

Class 17 A and B; JPM.

Class 18 Surviving Claims; WMILT, see Point 11.

Class 18 Non-Surviving Claims; JPM, CIC as agreed to, see FN 3 PDF 9/13.

Class 19 and 22; WMILT and the WMI Holdings in assets in WMIIC.

Yes, note the order of Class numbers; the FDIC-JPM responsibly lives between WMILT Class 16, [PIERs] and part of Class 18 Surviving Claims, then Class 19 and 22 as the as the responsibility of WMILT.

FDIC need the Class 18 claims defined as to WMILT, or their responsibility.


...

The $24 Billion From the Second First Filing,

Number 08-12229-MFW, only refers to certain assets presented by WMI to the BK Court.

The $299B for "WMB and it's assets" are a different topic.

We await "the Final Payment" to WMI for "WMB and it's assets".

The FDIC-JPM is reasonable for satisfying Class 17, both subclasses A and B. Not WMI/WMILT.


The Class Responsibilities;

Class 16; WMILT.

Class 17 A and B; JPM.

Class 18 Surviving Claims; WMILT, see Point 11.

Class 18 Non-Surviving Claims; JPM, CIC as agreed to.

Class 19 and 22; WMILT and the WMI Holdings in assets in WMIIC.


The FDIC needs to close the GSA with "the Final Payment" to WMI for "WMB and it's assets" along with the payment by JPM to Class 17 to complete the granting of Releases.


$299B for "WMB and it's assets", minus liabilities from MBS put-backs settled and resolved. WMB set aside $40B for put-back liabilities.


HLCE,
Ron

Who Do You Believe?

Jerrylev or James E. Carreon?


Jerrylev
Bio; Unknown.
jl, please fill-in.


James Carreon is a Principal at KPMG M&A Tax in Los Angeles. Prior to joining KPMG in 2012, Mr. Carreon was a Managing Director with Alvarez & Marsal Tax and, LL where his practice consisted of providing tax advice with respect to M&A transactions and troubled companies. In prior roles, Mr. Carreon has been associated with FTI Consulting, Sheppard Mullin Richter & Hampton LLP, Ernst & Young and Deloitte & Touche.

Education:
J.D., Law, Southwestern Law School (1997)
B.A., University of Southern California (1990)
B.S., University of Southern California (1990)
LL.M., Taxation, Golden Gate University, School of Law

https://www.bna.com/james-carreon-esq-h2830/



P.S.
jl; I remove you from my reply counter by checking the box and then remove. No need to read your stuff.

DTA Equals NOLs.

Deferred Tax Allowance.

Thanks mordicai for the link.


See Page 8/10;

Kevin Barker
Got It. Okay. And then the DTA declined by $81 from the pro forma number in the second quarter. Was that due to lower valuation allowance or expectations for future use of the DTA?

Jay Bray
No, I think that’s – we fully expect to utilize that DTA, particularly through the term, which extended beyond 2032, when you get to the final booking and the valuation allowance, which is essentially got to a number that was just slightly below the $1billion that we had out there.

Kevin Barker
Okay. And then, on your adjusted number, you had roughly $5 million worth of taxes in your adjusted EPS, which implies roughly 5% tax rate. Is that your expectation that you have on a GAAP basis or is that what you’re going to use for an adjusted number going forward?

Jay Bray
We expect to use about a 3% number for the adjusted basis. From a GAAP basis, it will be the full rate, which will be approximately 24%.


https://seekingalpha.com/article/4220076-mr-cooper-groups-coop-ceo-jay-bray-q3-2018-results-earnings-call-transcript?page=8


The FDIC's payment to WMI was not Booked in the third Quarter. So the old WMB Stock abandonment NOLs are still active. Jay is currently talking about the third quarter. All is true !


Keeping my eyes open.

Can You Post the Audio,

Link?


TIA,
Ron

If the WMB Stock Abandonment NOLs When Away,

then The FDIC did pay WMI "the Final Payment" for "WMB and it's assets".

Can we confirm J Bray's comments regarding Taxes and NOLs? TIA.

Thanks Wowalters.

NOLs From WMB Taking vs. NOLs From WMB Losses.


First; The #5885 WMB stock abandonment created an NOL from the taking. This is the NOL that WMIH/COOP is now using. WMB was temporarily valued at ~$24B.

Then when FDIC completes the GSA with "the Final Payment"; The first NOLs go away, and then WMIH/COOP will utilize this new reported NOL for the losses generated by WMB.

Example of WMB's losses to generate new NOLs; Pre-seizure RMBS required put-backs into the Trusts. The D.C. Dual Track established these losses/valuations. The Trusts now show new 2018 Mortgage put-back into the Trusts.

*************

The 8-30 Proposed Order was Rule on from the Bench = Approved.

IT IS HEREBY ORDERED that:

<- AZ is Right ->

THMFW Ruled from the Bench.

PDF 48/48. Other Message Boarders; YOU ONLY NEED TO READ ONE PAGE. Read More, Post Less.

http://www.kccllc.net/wamu/document/0812229180830000000000001



Thank You AZ.


The Stay is OFF.


HLCE is ON,
Ron

IMO, The Process Has Started. 5AT.

The FDIC has a ten year Statue of Limitation for claims filed against the receivership. Sept 25,2018. Now the FDIC has their Statue of Limitation intact. The Employee Claimants blow-it.

Then on Oct 16th WMILT filed to pay the last creditor Class 16, and close the cases.

WMI receivership claim; Hint #5885 fn 2, 5AT.

I only wish I could answer the when question.


The PIERs are soon to be done.


FDIC needs to close GSA with "the Final Payment" to receive their releases.

The ABS/RMBS Base was Insured.

As AZ has pointed out, the ABS/RMBS were insured. JPM's was the primary issuer of 'Insurance' through paper Derivatives. JPM, BofA and others are/were responsible to cover losses of the insured Trusts.

Remember FDIC PR that WMB securitized the $500B that F&F bought. That was 25% of the $2T RMBS securitized by WMB. Securitized means that the F&F bought RMBS Bonds, not the mortgages themselves.


The FDIC was only talking about RMBS, and not all the ABS that WMB/WMI and it's affiliates' securitized.

Banks use the customers' deposit base to reinvest into other assets.


WMB's deposit base never became a liability to WMB, the FDIC, or WMI.

Yes, WMB and WMB Class 17 Notes;

need to be paid by FDIC-JPM to close the GSA before the BK cases can close.

$299B for "WMB and it's assets".

The $188B Deposit base is a potential liability, that never became a liability to WMB or the FDIC because WMI/WMBfsb covered the depositors withdraws. Hint; No cost to the FDIC Receivership.

The $1.88B JPM payment is 1% of the deposit base of $188B used as a administration fee by FDIC to JPM.

Don't subtract the deposit base of $188B from the FDIC valuation of $299B because the deposit base is used as an asset to generate assets. That is what banks do, Use the deposit base for loans, building, land, investments, and ... WMB had a Tier 1 rating of ~8%, therefore only 8% was in cash and not a working asset. The deposit base was transferred to JPM.

The liabilities of WMB was settled with the DC Dual Track to settle the ABS/RMBS put-backs pre-seizure as a WMB responsibility. JPM is responsible for the post-seizure put-backs. JPM's put-backs is evidenced by new 2018 dated Mortgages in the MBS Trusts.

The FDIC still needs to make "the Final Payment" to WMI for "WMB and it's assets".

3X for "Willfull Misconduct".

True, RICO was never ruled on. Just the NYT Headline alone would have killed JPM ! Gag Order.


HLCE,
Ron

Washington Mutual Investors Fund (AWSHX).

Still active.

https://www.capitalgroup.com/institutional/investments/fund/awshx
https://www.morningstar.com/funds/xnas/awshx/quote.html

No reference to JPM found on sites.

Could this live under, Washington Mutual Inc., Assets Management Arm ?

I Have Searched for the List,

and have not found the list posted.

Searched for "GREAT WESTERN TRUST";

GREAT WESTERN TRUST II

https://www.sec.gov/Archives/edgar/data/1283448/000106823805000591/greatwesternii080105-8k.htm

CorTS Trust for Great Western Financial Trust II

Washington Mutual 7.625% Corporate-Backed Trust Securities (CorTS) Class A Certificates.


Any one have a link to the list? SEC Doc? Other? ??

TIA.

Kurtzman Carson Consultants LLC ("KCC"),

is the Distribution agent for WMI Tracking Marker ownership.

bottom of page,

http://www.kccllc.net/wamu
Note

Kurtzman Carson Consultants LLC ("KCC") maintains this website at the direction of Weil, Gotshal & Manges LLP, counsel for the Debtors. KCC maintains this website for the public's convenience and, while KCC makes every attempt to ensure the accuracy of the information contained herein, this website is not the website of the United States Bankruptcy Court and does not contain the complete, official record of the Bankruptcy Court. All documents filed with the Court are available for inspection at the Clerk of the Bankruptcy Court, District of Delaware.

KCC had the records regarding WMI Tracking Marker ownership.


HLCE,
Ron

Clawmann, Answer the question.


Did you read the docs?

Clawmann, What is Your Opinion,

regarding todays filings?

Now you as an MB expert on current events, what happen next?

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144385152


Your turn ! "Oops. Your bad."


Please Read the Court Doc.

Solved with Seattle-Mint.



HLCE,
Ron

LP, Where did the $65B Boarded,

come from? Did NSM/COOP buy the rights?

BofA: No.

Wells Fargo: Don't think so.

JPM: __

NSM/COOP never said the source for the New Boarding of $65B. Right !

Reading Time !


Court Docket: #12548
Document Name: Certification of Counsel Regarding Contested Order (A) (I) Deeming the Claimants' Claims Disallowed, (II) Authorizing the Distribution of Funds in the Disputed Claims Reserve, and (III) Dismissing the WMI Liquidating Trust's Adversary Proceedings and (B) Denying Motion of Certain Employee Claimants for Order Determining Applicable Law Necessary to Implement Debtors' Chapter 11 Plan (Filed by WMI Liquidating Trust)

Date Filed: 10/22/2018

http://www.kccllc.net/wamu/document/0812229181022000000000001


=================



Court Docket: #12549
Document Name: Certification of Counsel re: Motion to Allow Melba Ann Bartels, Todd H. Baker, Sean Becketti, Anthony J. Bozzuti, Alfred Brooks, Thomas W. Casey, Gregory C. Camas, Deborah D. Horvath, Rajiv Kapoor, Kenneth E. Kido, Marc Malone, John P. McMurray, John Murphy, Thomas E. Morgan, Stephen J. Rotella, David Schneider, Genevieve Smith, Steven F. Stein, Mitchell Stevens, Craig E. Tall, Radha Thompson, Ann Tierney, Anthony Vuoto, and Robert J. Williams, Jr. for Order Determining Applicable Law Necessary to Implement Debtors' Chapter 11 Plan (related document(s)[12499], [12512]) Filed by Melba Ann Bartels. (Attachments: # (1) Exhibit 1 # (2) Exhibit 2 # (3) Exhibit 3 # (4) Exhibit 4 (Proposed Order)) (Joyce, Michael)

Date Filed: 10/22/2018

http://www.kccllc.net/wamu/document/0812229181022000000000002

LP, Slow Down !

Yes, 1 and 2 are true.

NOLs are for the losses from WMB, NOT from the lose of WMB.

The Dual Track established the pre-seizure put-back losses to the MBS Trusts. These losses become the new NOLs. The old NOLs from the WMB stock abandonment go away with "the Final Payment" for "WMB and it's assets" to WMI common Equity.

Yes, S4V.

Equity Interests Certificate.

That is NOT what AZ said.

The subject for "Equity Interests" language was WMIIC.

When an investor owns 25% or more of a ABS Trust offering, then the investor is given an "Equity Interests Certificate" that can be used as collateral for securing loans.

The participation in the ABS Trust offering is a cash revenue stream that can be used as collateral for securing loans.


COOP owns the Equity Interests Certificate for leverage.

Old WMI Equity Tracking Markets owns the Revenue stream of cash from the associated Trusts.


Just that simple !

<- AZ is Right ->

HLCE,
Ron

Equity Interests Certificate.

The subject for "Equity Interests" language was WMIIC.

When an investor owns 25% or more of a ABS Trust offering, then the investor is given an "Equity Interests Certificate" that can be used as collateral for securing loans.

The participation in the ABS Trust offering is a cash revenue stream that can be used as collateral for securing loans.

Just that simple !


HLCE,
Ron

The PIER Creditors Only Need to be ADDRESSED.

The Employee Claimants are only a Claim against the Estate, and NOT a Creditor to the Estate. Therefore ABS Trust Funds are freed from Safe Harbor for Distribution because only Creditors must be ADDRESSED, not all Claims against the Estate. We don't need to wait for Claimants resolve to receive our ABS Funds.

ADRESSED only means that their payment is OK'ed by the Court, which happened yesterday. Yesterday Rosen was only referencing the WMILT, not the ABS Trusts.

Different Buckets.
1. LTIs from WMILT. If Employee Claimants were successful then they would receive LTIs.

2. Escrow Tracking Markers receive from ABS Trusts and WMILT. I don't need LTIs to receive money from the ABS Trusts. The WMILT does not manage the ABS Trusts. Nor do I need LTIs to receive funds for "WMB and its assets" from the FDIC.

?? How long will it take for the ABS Trustees to start Distributing funds held in SH ??

HLCE,
Ron

Notice of Agenda for Hearing on October 16

I. CONTESTED MATTERS GOING FORWARD:

Court Docket: #12543
Document Name: Notice of Agenda of Matters Scheduled for Hearing on October 16, 2018 at 11:30 a.m. (ET)
Date Filed: 10/12/2018


http://www.kccllc.net/wamu/document/0812229181012000000000001

Motion of WMI Liquidating Trust for an Order (I) Granting WMI Liquidating Trust’s Omnibus Objections, (II) Deeming the Claimants’ Claims Disallowed, (III) Authorizing the Distribution of Funds in Disputed Claims Reserve and (IV) Dismissing WMI Liquidating Trust’s Adversary Proceedings [Docket No. 12499 -
filed August 30, 2018]



**************
Court Docket: #12542
Document Name: Reply of Melba Ann Bartels, Todd H. Baker, Sean Becketti, Anthony J. Bozzuti, Alfred Brooks, Thomas W. Casey, Gregory C. Camas, Debora D. Horvath, Rajiv Kapoor, Kenneth E. Kido, Marc Malone, John P. McMurray, John Murphy, Thomas E. Morgan, Stephen J. Rotella, David Schneider, Genevieve Smith, Steven F. Stein, Mitchell Stevens, Craig E. Tall, Radha Thompson, Ann Tierney, Anthony Vuoto, And Robert J. Williams, Jr. in Support of the Motion for an Order Determining Applicable Law Necessary to Implementation of Debtors Chapter 11 Plan (Filed by Gregory G. Camas, Thomas Casey, Deborah Horvath, Rajiv Kapoor, Kenneth Kido, Marc Malone, John McMurray, Thomas E. Morgan, John H. Murphy, Stephen J. Rotella, David Schneider, Genevieve Anne Smith, Steven F. Stein, Mitchell Stevens, Craig Tall, Radha Thompson, Ann Tierney, Anthony Vuoto, Robert J. Williams, Jr.)
Date Filed: 10/11/2018
Related Documents [2]

12537, 12512


http://www.kccllc.net/wamu/document/0812229181011000000000002

Washington State Unclaimed Property.

https://www.google.com/search?q=washington+state+unclaimed+property&ie=utf-8&oe=utf-8&client=firefox-b-1-ab

Remember what Rosen said?

~FDIC to place payment for WMB in Washington State Lost-n-found.~

Washington State Unclaimed Property.

Notice of Withdrawal of Docket No. 12518


Court Docket: #12527 Email
Document Name: Notice of Withdrawal of Docket No. 12518 (related document(s)[12518]) Filed by Robert Bjorklund, Kimberly A. Cannon, Daryl D David, John H. Murphy, Michael A. Reynoldson, Chandan Sharma. (Joyce, Michael)
Date Filed: 9/24/2018

http://www.kccllc.net/wamu/document/0812229180924000000000010

GSA Resolution with Payment to WMI,

for "WMB and it's assets" with "the Final Payment".

"The Final Payment" for "WMB and it's assets" thru the GSA changed the seizure to a true sale by WMI to JPM with FDIC as an agent in the transaction which will close the Golden Parachute, and the CIC issues for FDIC, Employee Claimant, and WMILT.

IMO, the GSA needs to close with Payment first before current Docketed items and BK closure.

We need a Federal Judge available to hear and enforce the GSA bound to in BK Court.

ANICO and Ad hoc Steering Committee did not release JPM from RICO, Rosemary in Dual Track release in their stead.

Sleet's decision, PDF 2/33


"SUMMARY OF ARGUMENT
1.
On June 18, 2018, the Honorable United States District Judge Gregory M. Sleet entered his final Order (the “June 18, 2018 Order”) in the Declaratory Judgment Action FN2 [D. Del. D.I. 144], which granted the Claimants’ Motion for Judgment on the pleadings [D. Del. D.I. 118]and denied WMILT’s Motion for Certification of Partial Judgment [D. Del. D.I. 121]. This Order resulted in a complete dismissal of WMILT’s Amended Complaint, along with the corresponding counter-claims and cross-claims in the Declaratory Judgment Action. That Order specifically noted that the Court was declining WMILT’s request for a determination that it is subject to 12 U.S.C. § 1828 as a “covered company” within the scope of that statute.

WMI is a Creditor to WMB

See #5885, FN 2.

WMB is resolved the GSA closure. "The Final Payment". Which must take place before BK Closure.

WMI is owned by WMI's common share holders. Preferred share holders have a Claim against the WMI Estate, NOT as a Creditor only a claim.

JAD, Yes JPM Will Pay More.

The $1.88B was an administration fee based on 1% of the Deposit base at WMB.

The FDIC states $299B for "WMB and it's assets". The DC Dual Track and CA Probate established the Put-back responsibilities for WMB before seizure, and JPM post-seizure respectively back into the ABS Trusts.

The put-backs to the ABS Trust and other liabilities are subtracted from JPM's bill, then multiply by 3 for "Willful Misconduct" "RICO", and add in 1.95% FJR interest since seizure for "the Final Payment" to WMI for "WMB and it's assets".

JPM pays the FDIC, and FDIC pays WMI. Then, the FDIC R and C are Released.


No, I don't have a final number, but its BIG.

IMO, WMB's put-back obligation is about $40B. This becomes the new base for the NOLs. Old NOL base was $24B. The Old NOL base was for the WMB stock abandonment, but when WMB is paid for the Old NOL loss goes a way. The new NOL is from the Banks losses when the Bank was on WMI's books.


When is a liability an assets?
Hint; WMB's Deposit Base.


HLCE,
Ron