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.
Prefer share is cap??...
CAP is the wrong term.
Preferred shares Claim is to their property.
Their property is the Preferred Funding Trusts, and 75% of the Re-distributions from WMILT.
WMILT Re-distributions [IMO]
$30B from $21B plus interest for the 363 Sale currently held in US Treasure Notes.
$$ Proceeds for 365 Sale.
$$ Proceeds from Court Registry Accounts.
$$
Preferred shares Claim is not for The Original Debtor's Estate, which belongs to Released Common holders.
WMI Holding Co NOT a Bank Holding Co.
The OTS/FDIC had NO authority to seize any of WMI's property !
Please see WMI's Corporate Structure in a 10K.
Hence; 5AT.
WMI was pre FDIA/FDIC 1933-1934 ACT.
Hence; Grandfather Clause.
NewCo-1031 EXCHANGE, and Dissolved WMIIC
Where is the 8K's for;
* NewCo-1031 EXCHANGE
What assets are being held in, and passing-through this Sub?
* Dissolved WMIIC
What happened to the assets that were in this Sub?
BRICKS AND MORTAR and 100 Year Old Bank Charters
WaMu_1031 was the corporate entity that filed the $32.5B loss in WMB and passed the Tax responsibly to the FDIC on Sept 26th 2008.
Hence: the possible return path for Assets. WMB, WMBfsb....
WMBfsb was a sub of a Sub.
Remember AriseBank?
BlackRock CEO: Cryptocurrency Is ‘Going to Transform How We Do Our Business’
BlackRock investment firm CEO Larry Fink argued that cryptocurrencies are going to revolutionize the way that the world does business.
After saying that cryptocurrencies are an “index of money laundering than anything more than that,” BlackRock CEO Larry Fink offered some praise for the emerging technology at the Davos World Economic Forum event.
“It’s going to transform how we do our business,” he added. “We should not turn our backs to it; we should embrace it and work toward a global solution because if we don’t work toward a global solution it will create systemic risk.”
BlackRock is the largest investment firm in the world with $5.7 trillion under management as of July 2017. They are known for their popular line of iShares exchange traded funds.
Other important figures commented on cryptocurrencies at the event. U.S. Treasury Secretary Steve Mnuchin said that he wants to make sure that digital assets aren’t being used for illicit activity before adding that digital wallet and exchange companies will be regulated like banks in the United States.
“[I]n the United States, our regulation [says that] if you’re a Bitcoin wallet, you’re subject to the same regulation as a bank,” he said. “We want to make sure that the rest of the world…has the same regulations. We encourage fintech, we encourage innovation, but we want to make sure that all of our financial markets are safe.”
International Monetary Fund Managing Director Christine Lagarde had less favorable things to say about cryptocurrencies. She brought up potential issues with “anonymity, lack of transparency and the way it in which [cryptocurrency] conceals and protects money laundering, financing of terrorism, and also some dark trades.”
“We have already started monitoring, analyzing, surveying risk associated with the development of cryptocurrencies [as well as] the potential benefits of it,” Lagarde added.
http://www.breitbart.com/tech/2018/01/26/blackrock-ceo-cryptocurrency-is-going-to-transform-how-we-do-our-business/
Now For the Volume...
Hoping we close at $1.00 as to be ready for Monday.
We are Due !
Now would Be a Good Time
for a daily Breakout.
See ?
JWW, What is the Daily Chart
indicating now? Breakout still possible?
TIA.
The Total assets 32.8 B Total Debt 8.1 B
Is only for WMI's currently held assets like BOLI/COLI and liabilities as of Sept 26th. WMB's assets were not part of WMI property at the time of the BK filings.
The $32.5B for WMB was just JPM's Brick and Mortar purchase of WMB's locations, with final reconciliation upon final accounting by FDIC for "the Final Payment" for "WMB and it's assets" to WMI Original and Releasing Owners of the Estate.
Yes WMI "owned" the Brick and Mortar of which may have been packaged in to Commercial Trusts.
Think: Leases and The 365 Sale regarding Leases.
WMB's Brick and Mortar, Not the WMB Enterprise
Hence: WaMu-1031
The only assets valued at seizure would be Brick and Mortar.
"The principal tax item that created the over $32.5 billion consolidated NOL was the ordinary loss of ($31,370,712,376), which was recognized on the sale of WMB bank assets by the FDIC, as the receiver for WMB, to JPMC on September 25, 2008, pursuant to the P&A Agreement."
PDF 118...128, 129/368
https://www.scribd.com/document/41321079/Washington-Mutual-WMI-FINAL-REPORT-OF-THE-EXAMINER
"The review also included thousands of pages of documents from the databases that existed at the time of the appointment of the Examiner, including the Rule 2004 Discovery."
Doc #1997
No; The LT does NOT Own the Assets of WMIIC.
The Beneficiaries of the Trust [WMI-LT] own the assets of WMIIC.
Your poor use of the terms is creating your confusion, just like your miss use of "Equity Interest" and Equity in WMB.
CWG, Please See FN 5 on PDF 12/13
in the Doc you posted.
5. Nothing contained herein shall constitute a waiver of any of the Parties’ rights to file a motion for summary judgment prior to the filing of pre-hearing briefs and such rights are expressly reserved hereunder.
Then see; Agreed Order Establishing Procedures and Deadlines Concerning Hearing on Employee Claims and Discovery in Connection Therewith [D.I. 10777] (the “Employee Claims Scheduling Order”) to review Paragraph 12, 16.
"Change in Control" is completed with "the Final Payment" for "WMB and it's assets" which should have happened before EOY 2017. "the Final Payment" for "WMB and it's assets" constitutes the Title Change for WMB ownership to FDIC. Note that the January 4th Hearing was canceled.
I'm awaiting Distributions from "the Final Payment" for "WMB and it's assets" into my accounts. ASAP.
Therefore; "Change in Control" had better be DONE.
We await the "Change in Control" Summary Judgement Filing.
? WMI-LT and WMIH, Breach of Fiduciary Duty !
Thank You AZ for the Docs and history.
It's NOT WMIIC's Cash
The ABS Trust Participation Revenue stream belongs to "the Original Debtor's Estate".
Tranche 6, Distribution depending on the Trusts Prospectus.
WMIIC has no Assets !?
WMIIC only participated the various ABS Trusts. Just passing-thru the cash revenue stream to WMI and using the “Equity Interest” of 25% or more participation in a Trust to receive a “Equity Interest” Certificate to use as collateral for more participation in another Trust.
-> AZ is RIGHT <-
WMIIC was the Guarantor for 01/05/2015 Rights Offering.
WMI-LT and WMIH, Breach of Fiduciary Duty
Monday, the 22nd of January will be the start of the forth Business week of the new year and we have NOT heard any news regarding;
WMI-LT
* The status of the proceeds from "the Final Payment" for "WMB and it's assets" that must be distributed in a timely manner. Payment must have been received before EOY 2017 to satisfy the Five Year Tax Rule for a Capital Gain vs. Capital Loss. We know the Six Year Rule as satisfied because the January 4th Hearing was canceled.
* Monday, the 22nd of January Two days of ABS Trust Distributions will be due from all the ABS Trustees. Will timely Distributions be made?
WMIH
* Who are the Officers of New_1031?
* Now that WMIIC has been Dissolved, who or what is the Gaurantor for the Rights Offering?
Hey, WMIH Corp.
When are you going to update your "About Us" page now that WMIIC has been 'Dissolved'?
About Us
WMIH Corp. (“WMIH”) (NASDAQ: WMIH) is a corporation duly organized and existing under the laws of the State of Delaware. WMIH is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation (“WMMRC”), and WMI Investment Corp., a Delaware corporation. On March 19, 2012, WMIH emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc. Upon emergence from bankruptcy, we had limited operations other than WMMRC’s legacy reinsurance business, which is being operated in runoff mode and has not written any new business since September 26, 2008. We continue to operate WMMRC’s business in runoff mode and we are actively seeking acquisition opportunities across a broad array of industries.
http://wmih-corp.com/about-us/
"Equity Interests" in ABS Trusts
When talking about ABS Trusts, "Equity Interests" is not a share of capital stock ownership
https://www.guggenheiminvestments.com/perspectives/portfolio-strategy/asset-backed-securities-abs
Example;
"Domino’s retains a substantial equity interest in the SPV and is permitted to collect cash flows in excess of required ABS noteholder payments. Domino’s retained equity aligns its interest with that of ABS noteholders; both benefit from a well-performing business. Details below describe how performance triggers within the securitization help protect noteholders by redirecting excess cash flow away from Domino’s and to the ABS."
Court Docket: #0172
Document Name: Order - Counts XVII Through XIX of the Amended Complaint Stricken for Violating the Bankruptcy Court Order. Motion to Dismiss Remaining Claims (D.I. 90, 102) Denied. Informal Stay Lifted.
Date Filed: 8/24/2016
http://www.kccllc.net/wamu/document/0812229160915000000000004
-> AZ is Right <-
Closed 16 January 2017 Martin Luther King, Jr. Day
http://business.nasdaq.com/discover/events/trading-hours/index.html
Pg. 116 ...
"From 2000 to 2007, Washington Mutual and Long Beach securitized at least $77 billion in subprime and home equity loans. WaMu also sold or securitized at least $115 billion in Option ARM loans. Between 2000 and 2008, Washington Mutual sold over $500 billion in loans to Fannie Mae and Freddie Mac, accounting for more than a quarter of every dollar in loans WaMu originated."
That is $2 Trillion in MBS Trusts originated by The WaMu. That is NOT including all the other ABS Trusts originated by The WaMu.
We Will Expedite Your Parole Hearing
with the same enthusiasm as you did in timely Distribution of our funds and information/filings to Us.
WMI-LT and the WMIH are both in violation of their Breach of Fiduciary Duty and SEC requirements.
Hint; Get comfortable....
What is the status of the newly formed 1031 Exchange "New_1031"?
I know the reason. The question is;
What is the status of the newly formed 1031 Exchange "New_1031", and who are it's Officers? The old WaMu-1031 that was 'Dissolved' this summer with New_1031 created two days before?
WMI-LT and WMIH, Breach of Fiduciary Duty
WMI-LT
What is the status of the proceeds from "the Final Payment" for "WMB and it's assets" that must be distributed in a timely manner?
WMIH
What is the status of the newly formed 1031 Exchange "New_1031", and who are it's Officers? The old WaMu-1031 that was 'Dissolved' this summer with New_1031 created two days before?
WMI-LT, Breach of Fiduciary Duty
The proceeds from "the Final Payment" for "WMB and it's assets" must be distributed in a timely manner. The time it takes for KCC-DTC to transfer, and WMI-LT to record on EOY 2017 books. WMI-LT's job is to make sure it happens in a timely manner.
"the Final Payment" for "WMB and it's assets" is Pass-thru distribution, not Waterfall Feb 1st distribution.
"A fiduciary duty is an obligation to act in the best interest of another party. For instance, a corporation's board member has a fiduciary duty to the shareholders, a trustee has a fiduciary duty to the trust's beneficiaries, and an attorney has a fiduciary duty to a client".
https://www.google.com/search?q=Breach+of+Fiduciary+Duty&ie=utf-8&oe=utf-8&client=firefox-b
Plus; "Willful Misconduct"
"Willful Misconduct"
Please see Doc #1997 PDF 435 RICO allegations by ANICO. ANICO's Releases was bases on Release of "Willful Misconduct". Check your Release forms.
Court Docket: #1997
Document Name: Debtors' Motion for an Order Pursuant to Bankruptcy Rule 2004 and Local Bankruptcy Rule 2004-1 Directing the Examination of Witnesses and Production of Documents from Knowledgeable Parties
Date Filed: 12/14/2009
http://www.kccllc.net/wamu/document/0812229091214000000000008
Please see Doc #5885 Footnote 2 for Damages!
Court Docket: #5885
Document Name: Debtors' Motion Pursuant to Section 554(a) of the Bankruptcy Code for Authorization to Abandon WMI's Equity Interests in Washington Mutual Bank
Date Filed: 11/12/2010
Related Documents [5]
8513, 8426, 8343, 8135, 8104
http://www.kccllc.net/wamu/document/0812229101112000000000029
Damages from "Willful Misconduct" is automatic Treble, 3X for "WMB and it's assets".
"the Final Payment" was due EOY 2017.
Five Year Tax CG/CL Rule.
Six Year Settlement Rule
January 4th Heading was canceled due to no need to Hear that GSA was not fulfilled by FDIC.
201 Comes From the Original Doc
See righthand side for date field.
https://www.lawinsider.com/contracts/6DlbW9RBKOyMfmpPA46W93/washington-mutual/933136/2017-12-11
January____, 2018
then;
______, 201__
for next pages.
Up Date; Doc is awaiting signatures.
"Consummated On", Past Tense.
"The Company certifies to the Escrow Agent that (i) a Qualified Acquisition (as defined in the Charter) was consummated on , 201 , and (ii) no shares of Series B Preferred Stock remain outstanding as of the date hereof."
This is only the third day of the New Year.
Doc posted yesterday, January second.
Is it really that difficult ?
Are you saying it happened 2019, in the Past Tense?
Next Yeared, Past Tense?
We Have Two Very Different "Change in Control"
1. CIC for "WMB and it;s assets".
2. CIC of the WMIH-BOD due to the Series B Preferred Shares, SBP voting rights.
"and normally entitled to vote in the election of directors (such an event, a “Change of Control”)."
You post is about #1. CIC from "the Final Payment" for "WMB and it's assets".
2. CIC for the Series B Preferred Shares, SBP.
Page 25,26
"Repurchase at the Option of Holders upon a Put Event
If a Put Event (as defined below) occurs at any time when shares of Series B Preferred Stock are outstanding, each holder of Series B Preferred Stock shall have the right, at such holder’s option, to require us to repurchase (a “Put Event Repurchase Offer”) for cash, out of funds lawfully available for payment, all of such holder’s outstanding Series B Preferred Stock, or any portion thereof that is equal to $1,000 or an integral multiple thereof, on the date specified by us in the Put Event Company Notice (as defined below) that is not less than 20 calendar days or more than 35 calendar days following the date of the Put Event Company Notice (the “Put Event Repurchase Date”) at the Put Event Repurchase Price (as defined below).
In the case of a Change of Control (as defined below), the “Put Event Repurchase Price” shall equal $1,750 per share of Series B Preferred Stock, plus accrued and unpaid dividends, if any, whether or not declared.
A “Put Event” shall occur upon the occurrence of the following:
• if, prior to the consummation of a Qualified Acquisition, any “person” or “group” of related persons (as such terms are used in Section 13(d) and 14(d) of Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership” of all shares that any such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than a majority of the total voting power of all classes of capital stock of the Company then outstanding and normally entitled to vote in the election of directors (such an event, a “Change of Control”).
https://www.sec.gov/Archives/edgar/data/933136/000119312515400186/d29830d424b3.htm
From Johnny's post
Quote:The Company certifies to the Escrow Agent that (i) a Change of Control Event has occurred, and certain Holders have properly tendered for repurchase their shares of outstanding Series B Preferred Stock pursuant to the Change of Control Event Repurchase Offer, and (ii) the Escrow Property released pursuant to this certificate will be applied to pay the applicable Change of Control Repurchase Price to such Holders on the Change of Control Repurchase Date pursuant to the terms of the Charter.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137365072
It Can Only Mean January Second,
Because today is only January Third.
First entry;
January , 2018
Note the Date Format;
TITLE
DATE
AGENT
***January , 2018***
It Can only be January Second
First entry;
FORM OF AMENDMENT EFFECTIVE TIME CERTIFICATE
January , 2018
Citibank, N.A., as Escrow Agent
Next entry;
FORM OF CITI FEE AND KCM FEE CERTIFICATE
, 2018
Citibank, N.A., as Escrow Agent
Next entry;
FORM OF ACQUISITION AND/OR ACQUISITION EXPENSES CERTIFICATE
, 201
Citibank, N.A., as Escrow Agent
Next entry;
FORM OF PUT EVENT CERTIFICATE
, 201
Citibank, N.A., as Escrow Agent
Next entry;
FORM OF MANDATORY REDEMPTION CERTIFICATE
, 201
Citibank, N.A., as Escrow Agent
Next entry;
FORM OF RELEASE CERTIFICATE
, 201
Citibank, N.A., as Escrow Agent
201 is a Date Code for QA Consummation.
Date Code for 'second day of first month'.
January 2.
"The Company certifies to the Escrow Agent that (i) a Qualified Acquisition (as defined in the Charter) was consummated on , 201 , and (ii) no shares of Series B Preferred Stock remain outstanding as of the date hereof. "
See Last Entry From Johnny CIC;
Qualified Acquisition
The last entry;
I think it's a Different CIC Event.
from the payment for "WMB and it's assets"
Page 25,26
"Repurchase at the Option of Holders upon a Put Event
If a Put Event (as defined below) occurs at any time when shares of Series B Preferred Stock are outstanding, each holder of Series B Preferred Stock shall have the right, at such holder’s option, to require us to repurchase (a “Put Event Repurchase Offer”) for cash, out of funds lawfully available for payment, all of such holder’s outstanding Series B Preferred Stock, or any portion thereof that is equal to $1,000 or an integral multiple thereof, on the date specified by us in the Put Event Company Notice (as defined below) that is not less than 20 calendar days or more than 35 calendar days following the date of the Put Event Company Notice (the “Put Event Repurchase Date”) at the Put Event Repurchase Price (as defined below).
In the case of a Change of Control (as defined below), the “Put Event Repurchase Price” shall equal $1,750 per share of Series B Preferred Stock, plus accrued and unpaid dividends, if any, whether or not declared.
A “Put Event” shall occur upon the occurrence of the following:
• if, prior to the consummation of a Qualified Acquisition, any “person” or “group” of related persons (as such terms are used in Section 13(d) and 14(d) of Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership” of all shares that any such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than a majority of the total voting power of all classes of capital stock of the Company then outstanding and normally entitled to vote in the election of directors (such an event, a “Change of Control”).
https://www.sec.gov/Archives/edgar/data/933136/000119312515400186/d29830d424b3.htm
From Johnny's post
FOOTNOTE 2.
Bob, this Footnote 2.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137358633
What "Material News" do You think WMIH
is Withholding?
The Delist/deficiency just started showing up last night and today.
What happened over the weekend?
CIC?
:)
CIC. See Footnote 2;
PDF 6;
http://www.kccllc.net/wamu/document/0812229090626000000000007
CIC has not happened until "the Final Payment" for "WMB and it's assets" is made and clears our Bank!
I say it Happened !
Then, Footnote 5, PDF 5;
http://www.kccllc.net/wamu/document/0812229171018000000000022
All We need is a CIC Summary Judgement for THJMFW to sign.
IMO, the Hearing was scheduled just in case "the Final Payment" for "WMB and it's assets" was NOT made before EOY 2017 CG/CL.
Thanks to AZ.
I'm Not the Only One Optimistic
about seeing "Change in Control" Summary Judgement filed before the January 4th Omnibus Hearing for THJMFW to sign, per Footnote 5 because CIC happened.
If we don't see the CIC but; The Plan 7, and GSA complete FAILURE; then we have No WMIH Corp and No WMIH shares. Would the Boys in the know be buying WMIH shares if WMIH was to vanish due to The Plan 7 and GSA to become VOID because "the Final Payment" for "WMB and it's assets" was not completed before EOY 2017? Therefore; NOT satisfying the Five Year CG/CL Tax Rule.
The PPS has averaged; 5% increase a day, and over one million traded per-day this past week.
?? "the Final Payment" for "WMB and it's assets" made before EOY 2017, but Distribution in 2018 due to new Tax Law. ??
:)
Hocheberg is Not Listed, But:
"T. Patrick Tinker, United States Trustee for the District of Delaware" is.
The Party Description list is all the Employee Claimants.
See Exhibits A and B.
http://www.kccllc.net/wamu/document/0812229171206000000000001
We should see the Change in Control Summary Judgement filed before the January 4th Omnibus Hearing for THJMFW to sign, per Footnote 5 because CIC happened. *
CIC happens when the FDIC makes "the Final Payment" for "WMB and it's assets" and receives the Title to "WMB and it's assets".
WMI only released the "Equity Interest" in, not the Title of "WMB and it's assets" to the FDIC.
* or if NOT
We have as a minimum of three very mad Federal Judges.
No Plan, No GSA, No Releases, No WMIH.
RICO. Doc #1997 PDF 435 ANICO
Note; see Stephen Rotella in ANICO's Texas Litigation.
IMO;
JPM paid the FDIC "the Final Payment" for "WMB and it's assets" on June first, 2017 before CA-DBNTC was signed. JPM needed to 'own' the "Equity Interest" in "WMB and it's assets" before the agreement could become law. Watch the Time-lines.
HLCE,
Ron
The Case is Stylized as;
"Washington Mutual, Inc. and Joshua R. Hochberg"
https://www.pacermonitor.com/public/case/8094/Washington_Mutual,_Inc_and_Joshua_R_Hochberg,_the_Examiner
https://www.google.com/search?q=Washington+Mutual%2C+Inc.+and+Joshua+R.+Hochberg&ie=utf-8&oe=utf-8&client=firefox-b
Relax, this is not about Hochberg.
Hearing is for 5 and 6 Year Rules completion and CIC Summary Judgement signing, or if NOT Then the GSA, and Plan 7 are DEAD.
FDIC is in Contempt of the Plan.
* The FDIC Must make "the Final Payment" for "WMB and it's assets" before EOY 2017.
Only a little more than 8 hours to satisfy 5 year CG/CL Tax rule.
PPS indicates that all will be happy.
HLCE,
Ron
WMI-LT, Breach of Fiduciary Duty
A fiduciary duty is an obligation to act in the best interest of another party. For instance, a corporation's board member has a fiduciary duty to the shareholders, a trustee has a fiduciary duty to the trust's beneficiaries, and an attorney has a fiduciary duty to a client.
https://www.google.com/search?q=Breach+of+Fiduciary+Duty&ie=utf-8&oe=utf-8&client=firefox-b
breach of fiduciary duty penalties
https://www.google.com/search?client=firefox-b&ei=N0o9WqvqLZbGjwOqhJiICg&q=breach+of+fiduciary+duty+penalties&oq=Breach+of+Fiduciary+Duty&gs_l=psy-ab.1.3.0i71k1l4.0.0.0.29237.0.0.0.0.0.0.0.0..0.0....0...1c..64.psy-ab..0.0.0....0._YQN5Pj2k1M
dont_b_kruel