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HM, the opportunity for a "Fair and Reasonable" result is fun to speculate on. God knows we've had many years to do that. But, "the proof is in the pudding", so to speak. Nothing actually matters here but results.
Hope they are being cynical but still hopeful.
Would 20B in distributions plus the earlier shares qualify as "Fair and Reasonable" for common escrows?
newflow, does the 20B you reference include "book value" paid by JPM for WM's vast amount of real estate that JPM acquired?
Large Green, is 20B "in the ballpark" for what will be distributed to common escrows? Or have other sources (other than what newflow cited) for potential distributions been identified?
So newflow, could this mean 20B for escrows alone? Or will other categories get a slice out of this 20B?
What we need is, simply, closure to the BK and some "Fair and Reasonable" for long waiting escrows holders.
BBANBOB, that and the hedge fund connection still keeps me hopeful for F and R, somehow.
Why would Rosen lie about this?
AZCowboy, whatsup with this? Anything relevant to escrows?
I'd really appreciate somebody posting a link to Exibit D. Then I'll go to p. 124.
AZCowboy, you posted, "~ Everyone Should Very Carefully Read Attachment D’, The Proposed Order ~" I couldn't find Attachment D. What does it say that is so revealing?
AZCowboy, please clarify, where do the distributions come into play for escrows if they are not the "Relevant Beneficiaries" Rosen referred to? Is it solely from "Safe Harbor"?
Escrows needed at respected lawyer/firm to make sure we get what's deserved. We still do.
This is why we needed a "watchdog" attorney looking out for us.
Did Rosen actually say this and recommended signing releases? "Brian Rosen said there will be a significant , maeningful compensation for the shareholders. He has recommended to release."
Large Green, is there any way escrows can get screwed out of this?
"I believe a large sum will be paid to investors who signed timely releases as the POR says Book-Value must be paid for “other” real estate and other assets".
By the way, is this what we are connected to the hedge funds with?
How was Rosen allowed to have anything to do with WM shareholders' interests? Did we not have any choice but to tolerate him? Who hired him and how did he keep his job? Will there be any repercussions, including possible "clawback", for Rosen?
Will Trusts be released before the bankruptcy is closed? If not, about how long after the bankruptcy closes before the Trusts are released? I saw something about distributions to beneficiary owners. What's that about? As you can tell, I just manage to follow and grasp "bits and pieces" of this saga.
What's the latest projection as to when this bankruptcy will be closed?
johnnydollar, so nothing more for escrows, IYO? Or could something be coming from that "an escrow account open to channel funds plus the JPM payment which already happened after the GSA happened"?
johnnydollar, you think signing the releases will prove worth it?
Let's hope there is a "thorough review" of the charges to the estate in this long, drawn out bankruptcy over the years. Especially, if there is nothing close to "Fair and Reasonable" for escrows.
hotmeat, what could A & M have been getting paid "big bucks" for since the merger?
If A & M charged around $500K/quarter for
"buddy stuff". They have some explaining to do. And it may be in a court room.
zeus, what's your theory on what A & M's role has been?
Let's hope there is more than that in the Trusts A & M have been managing. I hope that's what they've been paid handsomely for, for a long time.
Large Green, how long after the bankruptcy closes do you expect for distributions to escrows to begin? Is there any kind of precedent to draw from? Realistically, do you expect a minimum of $5/share total? I believe I saw that you anticipate numerous distributions spread out over many years. Is that correct? I'm pretty sure there are many that would appreciate your respnses to these questions.
For escrows sake, hope it's for "Trustee and Examiner Services". What else could it be?
Also, what has A and M been paid handsomely for?
When is the earliest we'll know if escrows get any distributions from the Trusts?
I'm clinging to the "Fair and Reasonable" claim. There could be some liability involved if it doesn't come to fruition.
Thanks LG, if Rosen, indeed, stated that, there might be some potential for escrows.
If possible, contingency would be the way to go. If it comes to that.
Large Green, did Rosen state this? "Following a final distribution of cash to relevant beneficiaries of the Trust, no additional distributions (of cash or equity in Reorganized WMI) will be made."
If not, where did that statement come from?
Large Green, did a "neutral third party" investigate those assets and come up with that $299 billion amount? "But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
vodka, that is an interesting estimate.
Is the general consensus that escrows are still "on track" to get distributions despite no descriptive pathway laid out in court, as yet?
So the releases aren't "active" yet? What if the distributions aren't "fair and reasonable"? Could that, possibly, negate the releases?
Is "Clawback" a realistic possibility?