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Old MERGER into New then
Old is DISSOLUTION
Is that how you see it Johnny?
MERGER then DISSOLUTION
MERGER 06/29/2017 View PDF for document number A0799722 (opens in new tab)
then
DISSOLUTION 12/08/2017 Image unavailable. Please request paper copy
MERGER into ??
Three Separate Corporate ID Numbers
with the same name to keep continuity for the consumers !
Could it be;
Savings Bank
Mortgage Bank
Investment Bank
all using the same WaMu WMB store front.
??
AriseBank, + 25-year Old Investment Bank
Also included in the acquisition is a 25-year old investment bank that Arise plans on converting to a crypto-investment house for consumers around the world. “We plan on growing investor confidence outside of our decentralized platform, which will enable many other outside services in areas like real estate, among many others on a global scale.
https://www.huffingtonpost.com/entry/cryptocurrency-bank-arisebank-to-acquire-fdic-insured_us_5a32bad1e4b00caf3d59eb28
We will see....
"The bank we are acquiring has hundreds of banking partnerships across the world and many certifications and licenses."
https://www.arisebank.com/
Master Retention Checklist; 3xWMB
Very interesting that WMB is listed three times !
Why? No I don't think it was a mistake.
Washington Mutual Bank
Washington Mutual Bank
Washington Mutual Bank
Washington Mutual Bank fsb
http://www.kccllc.net/wamu/document/0812229081011000000000003
Many Certifications and Licenses
Notice that Jared Rice Sr., a co-founder and current CEO of AriseBank did not say anything about 'numerous Bank Branches/locations' as would normally be the case for a Bank merger.
How many other 'over a century old' 'Banks' with many certifications and licenses [the subs] are there that have not already been acquired. WaMu was just short of 120 years old.
"The bank we are acquiring has hundreds of banking partnerships across the world and many certifications and licenses."
I like it.
HLCE,
Ron
Could WMIH be sold?
https://www.huffingtonpost.com/entry/cryptocurrency-bank-arisebank-to-acquire-fdic-insured_us_5a32bad1e4b00caf3d59eb28
Dallas, TX —- AriseBank announced that they have reached an agreement with an FDIC insured bank, that has been operating in the United States for over a century, that they will acquire them before the end of the year. This comes on the heels of their record ICO launch, where AriseBank plans to raise one billion dollars, which would end up being a record in the ICO investment space.
“We are very excited to be at the forefront of history today. We feel like this was going to happen eventually and wanted to get the process started for the industry as a whole. There are certain people who may disagree with this move but, it has to happen eventually. The bank we are acquiring has hundreds of banking partnerships across the world and many certifications and licenses that make sense when it comes to interacting with our decentralized cryptocurrency platform”, said Jared Rice Sr., a co-founder and current CEO of AriseBank.
What I Find Fascinating About Master Retention Checklist
is all the Holdings, Holdings LLC, and LLC listed.
What are all the Holdings LLC... Holding !
LLC are a great way to 'hide' things.
Like these three as an example;
WMGW Delaware Holdings LLC
WMICC Delaware Holdings LLC
WMRP Delaware Holdings LLC
That is NOT what AZ Said. ! IF !
If WMIH used the funds from REITs in the 3rd QTR, then WMIH needs to make Divy payments in the 4th QTR to Preferred holders per prospectus.
Hint: Unrestricted Cash.
The CC changed Nothing.
James Carreon said in testimony that the latest the Capital Gain could be booked against the Capital Loss that 'gave rise to' the NOLs is December 17th of any given year.
December 17th is a Sunday, so WMIH need to book the CG by Friday December 15th or maybe as late as Monday December 18th.
The FDIC Entities are deemed to be Released upon "the Final Payment" to WMI Debtors Estate for "WMB and it's Assets". Releases always come with "the Final Payment".
JPM made "the Final Payment" for "WMB and it's Assets" on June 1st this year. I believe that the FDIC Entities has made "the Final Payment" for "WMB and it's Assets" but the Payment has not passed through to Distribution yet.
I am confident the FDIC Entities are being Released is because of the Five Year Tax Attribute for a Capital Gain must be book by WMIH before EOY 2017 as a driving performance clock. WMIH would not be able to afford the Tax consequences if "the Final Payment" for "WMB and it's Assets" is realized after EOY 2017
IMO,
No Six Year Rule filing against the FDIC by WMI Debtors Estate because "the Final Payment" for "WMB and it's Assets" is satisfied.
HLCE,
Ron
Absolutely Incredible AZ
Very slick Accountants with a long term game plan we are working with.
HLCE coming,
Ron
I Told You Why.
Please, Reread my posts.
The "Six Year Rule" for a Settlement and the Five Year IRS Tax Rule for CG vs. CL.
Olti100, You Need to Reread My Post.
Again!
75% / 25% is NOT GLOBAL, and APR removal was NOT GLOBAL.
75% / 25% only pertains to the Initial distribution and Redistributions. You have already received Initial distributions.
The DCR Redistribution of the 363 Sale of $20.7B, or ~$30B-ish held in UST High-yield Notes will be distributed soon as BK closes.
BK will close fast after the FDIC makes "the Final Payment" for "WMB and its assets" and Employee Claimants file the CIC Summary Judgement for THJMFW to sign.
FDIC is to make "the Final Payment" for "WMB and its assets" within six years of the GSA/DS signing which was 12-12-11. 12-11-17 EOD will be six years.
"the Final Payment" for "WMB and its assets" must be paid this year and booked by WMIH to record the CG against the CL so WMIH does not have to pay Tax on the CG. The CG is much greater than WMIH could ever pay.
EOY 2017
ABS Trust Distributions other then the base for the REITs will go the the Owners of the Original Debtors Estate, Releasing UQ commons and no 75/25 split.
Therefore; Please don't put different Words in my mouth!
Yes, ~ The 75% / 25% Is Only' For ANY WMI-LT "Left Overs" ~
See center Table;
Heading; Distributions to Liquidation Trust/DCR
Row; Retained earnings - pre-petition
In Thousands;
$20,770,849
The value of the 363 Sale assets would be from pre-petition assets.
The 363 Sale proceeds were place into UST High-Yield Notes and by now should be around $30B for Distribution at 75/25%. The 363 Sale proceeds are part of the DCR Re-distribution process.
75/25% is NOT Global for all Distributions.
Page 10, DISTRIBUTIONS SUMMARY
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
I have added up the items in the 363 Sale from the rounded numbers posted in Docs which added to ~$20.7B-ish.
Yep, Know what you Own.
-> AZ is Right <-
HLCE,
Ron
FDIC Claims Against the WMB Receivership;
The only open Claims I know of are the Employee Claimants claims. These claims hinge around Change in Control "CIC".
Change in Control is remedied with "the Final Payment" for "WMB and it's assets" because CIC and ownership happens when "the Final Payment" for "WMB and it's assets" is completed.
Therfore when the FDIC makes "the Final Payment" for "WMB and it's assets" the CIC can be settled. Employee Claimants can file a CIC Summary Judgement for THJMFW to sign and close the issue.
The GSA that the FDIC is party to is a Settlement, and is governed by "Six Year Rule", or the "Contractual Statute of Limitation".
Hence: Only two more business days. 12-11-2017.
Only Three More Business Days Left Before;
The FDIC must make "the Final Payment" to WMI/WMILT on or before December 12th, hence Dec 11th MAX for "WMB and it's assets", or WMI/WMILT will file litigation to re-open the Case due to the Six Year Litigation Rule. GSA/DS agreement date is Dec 12th 2011.
The FDIC must make "the Final Payment" to WMI/WMILT so the payment can be 'booked' on or before December 15th-ish for "WMB and it's assets" due to the Five Year CG/CL Tax Rule from March 2012. Seven business days left to complete this task.
Hint; James Carrion's Testimony. WMILT needs time to file the CG/CL before EOY 2017.
The WMILT Filed Extension means the WMILT will be ready to litigate FDIC for not fulfilling the GSA/DS and Plan 7.
"the Final Payment" for "WMB and it's assets" is due!
WMILT is due to Dissolve WaMu-1031 Exchange before EOY 2017.
WMIH is due to Dissolve WMIIC before EOY 2017.
That is a lot to complete before Christmas.
-> AZ is Right <-
HLCE,
Ron
Thank You, AZ
Therefore, the FDIC must make "the Final Payment" to WMI/WMILT on or before December 12th MAX for "WMB and it's assets", or WMI/WMILT will file litigation to re-open the Case due to the Six Year Litigation Rule. GSA/DS agreement date is Dec 12th.
The FDIC must make "the Final Payment" to WMI/WMILT on or before December 15th-ish for "WMB and it's assets" due to the Five Year CG/CL Tax Rule.
Hint; James Carrion's Testimony. WMILT needs time to file the CG/CL before EOY-2017.
The WMILT Filed Extension means the WMILT will be ready to litigate FDIC for not fulfilling the GSA/DS and Plan 7.
"the Final Payment" for "WMB and it's assets" is due!
-> AZ is Right <-
HLCE,
Ron
Please Remember That this is a
Order Scheduling Omnibus Hearing Date; to be Held on January 4, 2018 at 2:00 p.m. (ET)
and because it's an Omnibus Hearing other topic maybe heard also, like the CIC SJ, and GT Settlement Approval.
Regarding ABS Trusts of WMIIC, CCB's, Cayman Trusts; the Request for Extension never mentions any litigation involving any of the ABS Trusts.
WMIH can, and should move forward with ABS funds from CCB's, and Cayman Trust for Distributions for TPS, P's, K's, and Q's.
All other WMIIC Trusts are also free for Distributions for the same reason that the CCB's, Cayman Trusts are free for Distribution.
ALL The Trusts are out of "Safe Harbor" control.
Hint; Unrestricted Cash.
IMO; "the Final Payment" for "WMB and it's assets" are also available for Distribution before EOY-2017 to satisfy Five Year CG/CL Tax Rule.
WMILT Extension Wins.
Court Docket: #12438
Document Name: Motion to Authorize //Motion of WMI Liquidating Trust for an Order Authorizing Extension of Term of Trust Filed by WMI Liquidating Trust. Hearing scheduled for 1/4/2018 at 02:00 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #4, Wilmington, Delaware. Objections due by 12/18/2017. (Attachments: # (1) Notice # (2) Exhibit A) (Steele, Amanda)
Date Filed: 12/4/2017
http://www.kccllc.net/wamu/document/0812229171204000000000004
IMO;
CIC-SJ is just a filing by any of the Employee Claimants involved for THJMFW to sign, which can happen at anytime. The Plan and the GSA are DEAD if "the Final Payment" is not 'booked' before EOY-2017.
Grant Thornton could also close with a single filing of a settlement between parties.
Up-Date: Order is signed.
Thanks LG, WMILT Omibus Hearing on 1/4/18
I hope it's for CIC Summary Judgement Hearing to close all Employee Claimant stuff.
CIC Summary Judgement would mean "the Final Payment" is a historical event as of EOY 2017.
HLCE,
Ron
Up-Date: Order is signed.
http://www.kccllc.net/wamu/document/0812229171204000000000003
Hi Johnny, We all would
love to better understand the accounting, participating percentages in various Trusts, and to whom the funds/money is due.
Many of these Trusts are commercial, private, and/or foreign offerings and therefore may not report to the SEC. The WMB Notes are Euro-notes and don't report to the SEC for example.
The Cayman's are a good example because this group of Trusts can be overfunded for Tax avoidance reasons. The only number we have is ~$13B-ish. The Cayman's could be overfunded to a greater degree, we don't know.
Hopefully are answers are coming swiftly as the IRS Five year CG/CL Rule comes to a due-date of EOY-2017.
Only 10 Biz days to Dec 15th EOD.
HLCE,
Ron
OE800, Ask Yourself;
Who would be paying the FJR and why?
Why would WMILT pay the FJR? Where would the money come from?
IMO, FJR will be paid on "the Final Payment" because the FDIC has wronged WMI. IMO, FDIC is going to JPM for the MONEY to pay "the Final Payment" including FJR.
The Trusts are generating their own interest for the participants.
Your turn...
The Bank Loans Money to; ...
WMB loans money to the Land Developer for the New Shopping Center. The Construction loan is placed/sold into a Trust which WMIIC participated in.
The Land Developer leases space to the Grocery Store, and the Lease is placed/sold into a Commercial Trust of which WMIIC participated in.
The Grocery Store leases space to WMB for a branch outlet, and the Lease is placed/sold into a Commercial Trust of which WMIIC participated in.
WMI is making money with each event.
HLCE,
Ron
Another Set of Outstanding Posts AZ.
Hint; Unrestricted Cash. Were did that come from?
Hopefully we see New WMIH Preferred Shares in our Brokerage Accounts next week before December 1st for us to be a holders of record as they appear on the stock books of the Company to receive a December 15th REITs Dividend Distribution, and are 'Perpetual'. Think; Distribution of the Profits.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136424054
P's, K's, and TPS will all be Happy with a December 15th REITs Dividend Distribution. This is NOT a 75/25% Dist to UQ's.
The 23rd, 24th, and 25th of each Month are normal ABS Trust Distribution Dates. Hopefully DTCC has a Distribution coming to UQ Escrow Tracking Markers holders, and like the REITs are 'Perpetual'. This is NOT a 75/25% Dist to Preferred.
The RE/DCR of $20.7B + interest = ~$30B from the FEB-MOR is a 75/25% Distribution to both Preferred and UQ, IMO.
"the Final Payment" for "WMB and it's assets" is due before EOY-2017. From Court Testimony by James Careon of A&M, the latest the Capital Loss vs. Capital Gain could be 'booked' is December 17th. December 17th is a Sunday. "the Final Payment" for "WMB and it's assets" Distribution would be coming to UQ Escrow Tracking Markers holders. This is NOT a 75/25% Dist to Preferred.
and other stuff.
HLCE to All,
Ron
DAMAGES, 5AT = 3X.
In the case of The Fifth Amendment Taking, 5AT, and "Willful Misconduct" from RICO which is an automatic Treble in Damages, 3X.
IMO, The first one-third part of the settlement being the 'Base' would be Taxable, and the second two-thirds part as the 3X Damages would not be Taxable as "the settlement" from Damages. This only pertains to "the Final Payment" for "WMB and its' assets" and NOT the ABS/REITs, or other returned-liquidated assets.
Ask your Tax Adviser.
Dmdmd, Please see
Doc #5885 and all four footnotes, and Doc #1997 for your research.
Hint; WMI was a Holding Company, NOT a Bank Holding Company.
The OTS, and FDIC had no jurisdiction over WMI assets known as WMB.
Hence; 5AT.
Enjoy.
Thanks AZ. So...
for me to receive a Distribution from the Perpetual Non-cumulative Trust Securities, I must be a Holders of shares of Series Preferred Stock, and Each dividend will be payable to holders of record as they appear on the stock books of the Company on the first day of the month in which the relevant Dividend Payment Date occurs...
Currently I only have "Escrow Tracking Markers" in my Brokerage Account. Therefore IMO, WMIH would need to place New WMIH Preferred Shares into my account before December 1st for me to be a holders of record as they appear on the stock books of the Company to receive a December 15th Dividend Distribution.
IMO, The K's will probably be redeemed for cash as driven by the K's prospectus.
Only Series R, the P's, and the TPS will receive New WMIH Preferred Shares.
Note; No 75/25 here.
HLCE,
Ron
"SEATTLE MINT"
Welcome back Jinsong.
We have a high probability of a Dec 1st arrears Dividend payment from the REITs to P's, K's, and TPS holders.
Please see AZ's posts on this topic.
WMIH paid off the Second Lien Notes. Were did the money come from?
https://ih.advfn.com/p.php?pid=nmona&article=75778708
Hint; "its equity capital securities"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136363573
HLCE,
Ron
When You Read NOLs,
Think Capital Gains vs. Capital Loss Tax Attribute, and the Five year limitation from when the Capital Loss 'which gave rise to' the NOLs was declared in which to then declare the Capital Gains.
"Therefore, the calculation of the amount of our utilizable NOL carry forwards could be changed as a result of a successful challenge by the IRS or as a result of new information about the ownership of, and transactions in, our securities."
Hint; EOY 2017
Thanks, AZ. Coupling;
"its equity capital securities" from;
"(e) If full dividends on all outstanding shares of the Series Preferred Stock for any Dividend Period have not been declared and paid, the Company shall not declare or pay dividends with respect to, or redeem, purchase or acquire any of, its equity capital securities during the next succeeding Dividend Period, except dividends in connection with the Series Preferred Stock or other shareholders’ rights plan, if any, or dividends in connection with benefit plans."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136310141
With "our securities." from;
"The amount of our NOL carry forwards has not been audited or otherwise validated by the IRS. Among other things, the IRS could challenge whether an ownership change occurred on the Effective Date, as well as the amount, the timing and/or our use of our NOLs. Any such challenge, if successful, could significantly limit our ability to utilize a portion or all of our NOL carry forwards. In addition, calculating whether an ownership change has occurred within the meaning of Section 382 is subject to inherent uncertainty, both because of the complexity of applying Section 382 and because of limitations on a publicly-traded company’s knowledge as to the ownership of, and transactions in, its securities. Therefore, the calculation of the amount of our utilizable NOL carry forwards could be changed as a result of a successful challenge by the IRS or as a result of new information about the ownership of, and transactions in, our securities."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136139353
December 1st is S@@N for the REITs.
Similar outcome is possible for the other Trusts also for "It's Securities" and "Our Securities" .
HLCE,
Ron
Because the REIT Trusts are Still Performing
WMIH could issue new Preferred Securities, make accumulated cash payments and continue dividend distributions for owners of P's, K's and TPS holders. WMIH has allocated the Preferred Securities.
Very possible, and probable, IMO.
HLCE,
Ron
Overfunded for Tax Purposes Monsters.
Overfunded by $10 Billion to $13 Billion for a series of Trusts totaling only $4 Billion.
$14 to $17 Billion in total.
The Overfunded TPS REITs.
Happy P's, K's and TPS.
REITs, or Real Estate Investment Trusts
https://www.reit.com/what-reit
"REITs, or real estate investment trusts, are companies that own or finance income-producing real estate in a range of property sectors. These companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors."
Five Year Capital Gains
vs. Capital Loss Tax Attribute expires EOY 2017.
The Capital Loss gave rise to the NOLs. The NOLs are an end product of the loss booked for WMB at that time as a placeholder for the future event pending FDIC's completed valuation of "WMB and it's assets". The said value for WMB was $24B at that time. FDIC has completed the valuation for "WMB and it's assets" now at $299B.
If "the Final Payment" for "WMB and it's assets" is received in 2018 after the CG/CL Five Year Tax Attribute expires, then WMIH will NOT be able to utilize the Tax Attribute and will have to pay the Tax for "WMB and it's assets" now at $299B-ish.
See #5885 Footnotes 1-4.
Hint; DAMAGES.
This Distribution of "the Final Payment" for "WMB and it's assets" is separate from any Distributions regarding Save Harbored ABS Trust Funds accumulate Cash and future Cash Distributions.
Only Re-distributions from the WMILT are 75/25. That could mean the RE/DCR of $20.7B plus 9 years of interest, equaling about $30B.
P's and K's own the WMI Preferred Funding Trusts along with the TPS.
HLCE,
Ron
Please re-read My post You just responded to.
HLCE,
Ron
You are adding numbers together incorrectly.
1. Plan 7; "WMI's $4B-ish Turn Over Cash" on deposit at WMB went to satisfy Senior Creditors.
2. 363 Sale became the RE/DCR of $20.7B shown in the FEB MOR, of which $4B came from the reimbursement by JPM for the "TPS Exchange Event". The RE/DCR of $20.7B has not been distributed yet from the Trust.
Did the 363 Sale happen?
Wrong, HM.
The $4B of the "TPS Exchange Event" was reimbursed in the 363 Sale.
The $4B of WMI on Deposit at WMB, "The $4B Turn Over" is a different $4B from the "TPS Exchange Event". "The $4B Turn Over" was used to pay Senior Creditors in Plan 7. See FEB MOR.
Are you saying the 363 Sale never happened?
Correct, COMMONS are the Owners of the Estate.
The Preferred Class 19 have a Claim against the Debtor's Estate. That Claim is to be satisfied by the WMI Preferred Offering and their Supporting Trusts’.
PREFERREDS will receive more than just face plus interest from WMI Preferred Offering and their Supporting Trusts’ because that is their property. The WMI Preferred Offering and their Supporting Trusts’ was over funded by $10B - $13B than the original $4B offering. Preferred are equity, but where never converted into Commons, to become Owners of the Estate.
Do the Commons share in the Preferreds property?
P's and K's are a secondary offering of WMI Preferred Funding.
JPM paid back the $4B from the "Conversion Event" in the 363 Sale.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136256654
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136248754
Seventh Amended Plan of Reorganization
Need a link?
http://www.kccllc.net/wamu
http://www.kccllc.net/wamu/document/list/3853
http://www.kccllc.net/wamu/document/0812229080926000000000001
http://www.kccllc.net/wamu/document/0812228080926000000000001
http://www.wmitrust.com/WMITrust
Don't forget to read Doc #5885 and pay special attention to the footnotes. :)
Another favorite is Doc #1997. See PDF 435...
In Less Than 45 Days
if "the Final Payment" for "WMB and it's assets" is not realized by The WMI Estate before EOY-2017, then the GSA, and The Plan are 'Null and Void' and the FDIC-JPM Release are also 'Null and Void' and WMIH does NOT even legally exist.
IMO, the Naz delisting is a non-issue, and will be solved long before it becomes an issue.
Nasdaq Minimum Bid Price Notification
https://ih.advfn.com/p.php?pid=nmona&article=76116055
SEATTLE, Nov. 16, 2017 /PRNewswire/ -- WMIH Corp. (Nasdaq: WMIH) (the "Company") today announced that, on November 14, 2017, the Company received a notice from Nasdaq that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2) ("the minimum bid price requirement").
The notification has no immediate effect on the Nasdaq listing of the Company's stock. The Company has 180 calendar days, or until May 14, 2018, to regain compliance with the minimum bid price requirement. To regain compliance during this initial 180 day period, the closing bid price of the Company's common stock must meet or exceed $1.00 for a minimum of 10 consecutive business days, whereupon, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. In the event that WMIH Corp. does not regain compliance before the expiration of the Compliance Period, the Company may be eligible for additional time.
The Company intends to continue monitoring the closing bid price of its common stock and will consider a range of available options to regain compliance with the share price listing standard. For instance, the Company may remedy the deficiency, either now or at a later date, through a reverse stock split. The Company is, however, currently focused on its primary strategic initiative of identifying and consummating an accretive acquisition transaction. Nevertheless, the Company may seek to effect a reverse stock split in the future in order to achieve compliance with Nasdaq listing rules. If the Company does not regain compliance within the allotted compliance period(s), certain further procedures may also be available to the Company.
JJ, Regarding WMI Holdings Corp
Quick answer;
Before BK and Reorg; WMI owned WMI Holdings Corp.
Post BK and Reorg; WMI Holdings Corp was merged into WMIH.
Don't worry, We will all get our Money and Property related to our Equity holdings.
and;
=> AZ is Right<=