current
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Newflow, thanks for the update. Can you explain details on how you arrived at this particular date?
Thanks
Yes, we could be the VICs that are beneficial recipients of a (DST) Delaware Statutory Trust
Thank you however, I would think they must release this soon due to certain SEC ACT 34 requirements
…
Greetings and Happy Father's Day To All Who Are.
Please correct me if I am wrong about the following. I seem to remember that I read in a similar filing that COOP would be divulging their Very Important Customer during the second quarter of 2024.
If this is correct, I believe the investors who signed timely releases by March 2012 will finally see a confirmation of monies, shares, or a combination being returned and possibly a reawakening of WMI or similar name that has been in a coma since September of 2008.
Thoughts?
...
Many Confirmed FACTS From A Subject Matter Expert - Distributions WILL HAPPEN ONLY A MATTER OF TIME ALSO PONTS TO WHEN
Former poster CBA09 on IHUB was a subject matter expert and did this exact work of the FDIC when closing receiverships told us in the year 2017 THAT WE MAY HAVE TO WAIT UNTIL THE WaMu Receivership is settled/resolved before we would see distributions.
Poster CBA09 suddenly disappeared after a few months of answering many detailed questions but left us with the following. EXCITING TIMES ON NOW ON THE HORIZON as many actions now happening that show light at the end of the very long tunnel!!!
_________________________________________
Anyone Who Doubts Large Style Money Returning Needs To Read IHUB Post #490806
***Many thanks goes subject matter experienced poster CBA09s following posts***
Ref: So will they just magically make the Escrows worth something then?
Comment:
Shrewd professional investors here. Those initial & ensuing Hedge Funds did not invest and release on guess work. Rather a keen understanding of what assets and rights to assets that will prevail beyond the reaching powers of bankruptcy.
It seems many here are down to a glimmer of hope, from once having high hopes. I have been primarily silent. Why!?! No need to focus on the daily PPS. It is of no concern to me.
Do you believe these Hedge Funds & Institutional Investors are concerned with the the daily PPS? Of course not, they are inured to its daily movement and the postings on this Board.
Those who have their ticket punched, namely releases, take note that you are joined in the company of those in the know. Knowing the "Final Outcome."
Key here, I strongly contend, is outside the waterfall. So those assets shielded from the Trustee's reach as follows:
1) SPE / Trusts assets ( The parent is WMI )
2) Abandonment of Stock. ( As any future value goes to WMI and not included as an asset of the estate).
The following post by CBA09 (#490902) is also another great compelling, experienced view by a certified bank auditor such as him:
"Ref: Any idea as to timing? Are we looking at sometime before or after the end of 2018?
Comment:
I believe timing will be two fold:
1) That what happens within the finalization of receivership,
2) That what happens outside of the receivership, specific to Bankruptcy remote entities - SPE's. This, I strongly believe, is where the lion's share of recovery will come. Each SPE / Trust is governed by the expressed language of each PSA. There a many and most likely many have reached ripeness while others continue until to carry out payment compliance to investors / certificate holders.
These stand alone SPE's have many accounts that keep separate various types of revenue. I know from first hand experience the amount of retained assets within can be massive. Many Trusts have 6-7 tranches with 10's of Thousands of loans in each tranche.
When a given Trust's PSA has completed it's fulfillment to certificate holders a provision called "Accounts Removable" takes place. But before the actual removable is initiated a reconciliation of "Retained Assets" takes place. This is the vouching of reports to $ in the captive cash accounts along with any remaining over "Over Collateralized Pooled Receivables." Then a true-up, namely $ distribution is performed by the Master Servicer. Here, from my experience, the Holding Company (WMI) would be the receiver of these retained assets.
Now the question is when will this happen. Since this is outside of Bankruptcy it could have happened with each fulfillment of PSA. Then again it could be ( for completed "True-ups" ) in tandem with the finalization of Receivership. Then of course, as those that meet fulfillment a payout accordingly. "
**********SOLID POST FROM CBA09****************
Now To Me - The Following Tells The Entire Story Except When
GOOD REVIEW FROM CBA09***From a Certified Bank Auditor-Subject Matter Expert
CBA09
Sunday, 01/14/18 03:41:16 PM
Re: LuckyPanda post# 503177
0
Post # of 531409
Ref: CBA09, if safe harbor rules protect the assets to pre-bankruptcy ownership then its distribution should not apply to POR7. Does that mean escrow markers are moot? Will all Wamu shareholders receive a distribution including the non-releasing ones? Thanks in advance for your input. I have been wondering about this for some time.
Comment:
Liquidation of assets involves two distinct assets:
1) Property of the Bankruptcy Estate - (Por7 applies).
2) Non-Property of the Bankruptcy Estate - Safe Harbor Assets ( regular bankruptcy code procedures / priority apply).
While the above two are distinct in nature "ALL" residual interest will go to Escrow Markers. So, no, not moot. Escrow Markers are the legacy shareholders. Thereby, have final legal standing and in turn sole contractual rights / title in residual interest.
Ownership Chain -
WMI owns the assets of WMI and in turn has legal title to all the assets of it's subsidiaries. Shareholders of WMI have legal title to all the assets of WMI. All assets that end up in WMI thru it's subsidiaries are thereby assets that WMI shareholders have legal contractual rights.
Por7, thru its declarations, have addressed the distribution of liquidated Bankruptcy Estate Assets. All residual interest of estate assets will go to Escrow Markers per the 75 % / 25 % allocation.
Since our Safe Harbor Assets are outside the bankruptcy estate, those captured within SPE/Trusts will follow each respective Pooling & Service Agreement (PSA) provisions. Generally, it's Parent that receives cash flows of residuals. Note, SPE# 1 create the SPE# 2 /Trusts, SPE 1 are many times direct subsidiaries of the Parent. And, SPE # 1's have a great deal of involvement in the residual interest of SPE # 2 / Trusts.
In a solvent entity shareholders cannot force a distribution. A Corporation, thru it's board, has to declare a distribution of its profit before shareholders are to receive any distribution in the form of dividends.
PSA are compelling and indivisible - only one end stop - Escrow Markers.
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
***The following from Large Green***
BK/SAFE HARBOR REMOTE ASSETS DISCUSSED IN COURT-THESE WORDS MEAN MORE NOW THAN EVER-WATCH AS THESE COME INTO PLAY IF NOT ON/B4 12/31/2022
***READ THESE WORDS CAREFULLY AND THINK REAL HARD ON WHAT THEY MEAN AT THIS STAGE***
*The Holy Grail*RETAINED ASSETS*YOUR HONOR*They Will Still Be There*
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
http://www.sidedraught.com/stocks/WashingtonMutual/Transcripts/2010%20July%2020/08-12229-20100720.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
xxx
Newflow, it was the taxes paid by WMI, the corporation for five years on income earned was changed temporarily from three years to five years by an attachment to a bill in October of year 2008, I believe. The monies returned totaled around 5.5B divided up among the FDIC, JPM and WMI
This is what screwed Rosie up because there was too much money for a bankruptcy filing and the shareholders should have been in charge of the case. Rosie did everything to get rid of monies to make the bk look legal including giving money away and assets.
…
Newflow, no I do not believe so because these were the tax refunds from the tax law they attached to a bill in 2009 to extend the reach-back from three to five years on profits made by the old WMI
There was about five and a half billion in tax refunds divided up among WMI, JPM and I believe the FDIC from that amendment
…
Newflow, Split T, if you remember poster CBA09 on IHUB who was a subject matter expert and did this exact work of the FDIC when closing receivership told us in the year 2017 THAT WE MAY HAVE TO WAIT UNTIL THE WaMu Receivership is settled/resolved before we would see distributions.
Poster CBA09 suddenly disappeared after a few months of answering many detailed questions but left us with the following. EXCITING TIMES ON NOW ON THE HORIZON!!!
_________________________________________
Anyone Who Doubts Large Style Money Returning Needs To Read IHUB Post #490806
***Many thanks goes subject matter experienced poster CBA09s following posts***
Ref: So will they just magically make the Escrows worth something then?
Comment:
Shrewd professional investors here. Those initial & ensuing Hedge Funds did not invest and release on guess work. Rather a keen understanding of what assets and rights to assets that will prevail beyond the reaching powers of bankruptcy.
It seems many here are down to a glimmer of hope, from once having high hopes. I have been primarily silent. Why!?! No need to focus on the daily PPS. It is of no concern to me.
Do you believe these Hedge Funds & Institutional Investors are concerned with the the daily PPS? Of course not, they are inured to its daily movement and the postings on this Board.
Those who have their ticket punched, namely releases, take note that you are joined in the company of those in the know. Knowing the "Final Outcome."
Key here, I strongly contend, is outside the waterfall. So those assets shielded from the Trustee's reach as follows:
1) SPE / Trusts assets ( The parent is WMI )
2) Abandonment of Stock. ( As any future value goes to WMI and not included as an asset of the estate).
The following post by CBA09 (#490902) is also another great compelling, experienced view by a certified bank auditor such as him:
"Ref: Any idea as to timing? Are we looking at sometime before or after the end of 2018?
Comment:
I believe timing will be two fold:
1) That what happens within the finalization of receivership,
2) That what happens outside of the receivership, specific to Bankruptcy remote entities - SPE's. This, I strongly believe, is where the lion's share of recovery will come. Each SPE / Trust is governed by the expressed language of each PSA. There a many and most likely many have reached ripeness while others continue until to carry out payment compliance to investors / certificate holders.
These stand alone SPE's have many accounts that keep separate various types of revenue. I know from first hand experience the amount of retained assets within can be massive. Many Trusts have 6-7 tranches with 10's of Thousands of loans in each tranche.
When a given Trust's PSA has completed it's fulfillment to certificate holders a provision called "Accounts Removable" takes place. But before the actual removable is initiated a reconciliation of "Retained Assets" takes place. This is the vouching of reports to $ in the captive cash accounts along with any remaining over "Over Collateralized Pooled Receivables." Then a true-up, namely $ distribution is performed by the Master Servicer. Here, from my experience, the Holding Company (WMI) would be the receiver of these retained assets.
Now the question is when will this happen. Since this is outside of Bankruptcy it could have happened with each fulfillment of PSA. Then again it could be ( for completed "True-ups" ) in tandem with the finalization of Receivership. Then of course, as those that meet fulfillment a payout accordingly. "
**********SOLID POST FROM CBA09****************
Now To Me - The Following Tells The Entire Story Except When
GOOD REVIEW FROM CBA09***From a Certified Bank Auditor-Subject Matter Expert
CBA09
Sunday, 01/14/18 03:41:16 PM
Re: LuckyPanda post# 503177
0
Post # of 531409
Ref: CBA09, if safe harbor rules protect the assets to pre-bankruptcy ownership then its distribution should not apply to POR7. Does that mean escrow markers are moot? Will all Wamu shareholders receive a distribution including the non-releasing ones? Thanks in advance for your input. I have been wondering about this for some time.
Comment:
Liquidation of assets involves two distinct assets:
1) Property of the Bankruptcy Estate - (Por7 applies).
2) Non-Property of the Bankruptcy Estate - Safe Harbor Assets ( regular bankruptcy code procedures / priority apply).
While the above two are distinct in nature "ALL" residual interest will go to Escrow Markers. So, no, not moot. Escrow Markers are the legacy shareholders. Thereby, have final legal standing and in turn sole contractual rights / title in residual interest.
Ownership Chain -
WMI owns the assets of WMI and in turn has legal title to all the assets of it's subsidiaries. Shareholders of WMI have legal title to all the assets of WMI. All assets that end up in WMI thru it's subsidiaries are thereby assets that WMI shareholders have legal contractual rights.
Por7, thru its declarations, have addressed the distribution of liquidated Bankruptcy Estate Assets. All residual interest of estate assets will go to Escrow Markers per the 75 % / 25 % allocation.
Since our Safe Harbor Assets are outside the bankruptcy estate, those captured within SPE/Trusts will follow each respective Pooling & Service Agreement (PSA) provisions. Generally, it's Parent that receives cash flows of residuals. Note, SPE# 1 create the SPE# 2 /Trusts, SPE 1 are many times direct subsidiaries of the Parent. And, SPE # 1's have a great deal of involvement in the residual interest of SPE # 2 / Trusts.
In a solvent entity shareholders cannot force a distribution. A Corporation, thru it's board, has to declare a distribution of its profit before shareholders are to receive any distribution in the form of dividends.
PSA are compelling and indivisible - only one end stop - Escrow Markers.
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
***The following from Large Green***
BK/SAFE HARBOR REMOTE ASSETS DISCUSSED IN COURT-THESE WORDS MEAN MORE NOW THAN EVER-WATCH AS THESE COME INTO PLAY IF NOT ON/B4 12/31/2022
***READ THESE WORDS CAREFULLY AND THINK REAL HARD ON WHAT THEY MEAN AT THIS STAGE***
*The Holy Grail*RETAINED ASSETS*YOUR HONOR*They Will Still Be There*
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
http://www.sidedraught.com/stocks/WashingtonMutual/Transcripts/2010%20July%2020/08-12229-20100720.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
xxx
COOP VERY IMPORTANT CUSTOMER
Since COOP has been hiding the identity of this important action there MUST be more to this than meets the eye. So, here are the two important actions that must happen soon that I believe, will show us the way tor the NON-REVERSED ten million shelf-ready and authorized (since 3/2012) preferred shares to be issued to those investors who signed timely releases by March of the year 2012.
1) Why has XOME not been monetized since COOP started pushing this valuable asset years ago
2) The Identity of this VERY IMPORTANT CUSTOMER
DISTRIBUTION WINDOW CONFIRMATION NOW IN VIEW
I believe our timing window has been established which is five months maximum on a minimum of a confirmation, especially with the LIBOR settlement that now seems fast-tracked
I will take it further because of two things I have always said about Big Money Perps, which can never have enough. Family, friends, and all else come AFTER the following two.
1) They know how to make money
2) They know how to legally evade taxes and/or control with the potential of 45% taxes on 1/1/2025
So, that means we MUST have the TAXABLE MONIES in our accounts no later than 12/31/2024 and they can do the other non-taxable monies/actions later if needed but it also seems we may see at least a confirmation of distributions between now and Summer's end
No doubt, in my view this is the year for those investors who signed timely releases by March of the year 2012
...
DISTRIBUTION WINDOW CONFIRMATION NOW IN VIEW
I believe our timing window has been established which is five months maximum on a minimum of a confirmation especially with LIBOR settlement that now seems fast-tracked
I will take it further because of two things I have always said about Big Money Perps who can never have enough. Family, friends, and all else come AFTER the following two.
1) They know how to make money
2) They know how to legally evade taxes and/or control with the potential of 45% taxes on 1/1/2025
So, that means we MUST have the TAXABLE MONIES in our accounts no later than 12/31/2024 and they can do the other non-taxable monies/actions later if needed but it also seems we may see at least a confirmation of distributions between now and Summer's end
No doubt, in my view this is the year for those investors who signed timely releases by March of the year 2012
...
Boris, yes you are 100% correct. Even if they think there was only a 20% chance of that party getting in no way in hell would they risk losing this much to taxes after 16 years.
So with that said, can you say…
DISTRIBUTIONS IN YEAR 2024
DISTRIBUTIONS IN YEAR 2024
DISTRIBUTIONS IN YEAR 2024
DISTRIBUTIONS IN YEAR 2024
NON TIMELY SIGNED RELEASORS…
Let the aforementioned sink in…
…
This will not be over or other until one of the following happens.
1) WaMu (R) Receivership Resolved, Terminated plus FDIC officially released
2) Distributions
…
DISTRIBUTION WINDOW CONFIRMATION NOW IN VIEW
I believe our timing window has been established which is five months maximum on a minimum of a confirmation especially with LIBOR settlement that now seems fast-tracked
I will take it further because of two things I have always said about Big Money Perps who can never have enough. Family, friends, and all else come AFTER the following two.
1) They know how to make money
2) They know how to legally evade taxes and/or control with the potential of 45% taxes on 1/1/2025
So, that means we MUST have the TAXABLE MONIES in our accounts no later than 12/31/2024 and they can do the other non-taxable monies/actions later if needed but it also seems we may see at least a confirmation of distributions between now and Summer's end
No doubt, in my view this is the year for those investors who signed timely releases by March of the year 2012
...
Xoom and Mad, you guys discussed the following.
Brilliant MB. Good observation. So client could be WMI
___________________________________________________
We have been shown that a Delaware WMI DST opened in Amended POR 7 signed by the court on 2/23/2012. We also know that one cannot open a DST without assets/cash, so that is a concrete fact. There is no doubt in my view those investors who signed timely releases by March of the year 2012 will be Beneficial Recipients of a WMI DST or other DST since they own the former WaMU Estate.
I really believe this DST will play a vital role in our eventual distributions but should not be the only bucket.
...
Stox, we have been shown that a Delaware WMI DST opened in Amended POR 7 signed by the court on 2/23/2012. We also know that one cannot open a DST without assets/cash, so that is a concrete fact. There is no doubt in my view those investors who signed timely releases by March of the year 2012 will be Beneficial Recipients of a DST since they own the former WaMU Estate.
I really believe this DST will play a vital role in our eventual distributions but should not be the only bucket.
...
Exchanged old WaMu for NewCo/WMIH
From: Edgar G. Sargent [mailto:esargent@SusmanGodfrey.com]
Sent: Thursday, March 22, 2012 4:36 PM
To:
Subject: RE: Wamu
142,500,000 (75% of 190,000,000) are distributed to holders of preferred securities as well as claims subordinated to the level of preferred. Total disputed claims at the preferred level are $106,514,585.09. For those claims, 2,109,051 shares are reserved. The remaining 140,390,949 are distributed evenly by liquidation preference across the $7.5 billion of preferred shares. However, while the TPS are denominated in 1,000s, the Series K has a face amount per share of $25.
For the TPS, 3,729,658.260 shares provided releases and will receive 73,849,406 shares or 19.80058 new shares per old share. This share count is after giving effect to the mandatory exchange.
For Series R, 2,906,421 shares provided releases and will receive 57,548,829 or 19.8005825 new shares per old share.
For Series K, 18,166,565 shares provided releases and will receive 8,992,714 shares or 0.4950146 new shares per old share.
For the common shareholders, they are receiving 47,500,000 shares of which 4,165,750 shares go to the Dime Warrant holders, 2,631,933 shares are reserved for disputed equity claims, 693,806 shares will be distributed to Principal Financial on account of their claims and existing common will get 40,008,511 shares. For each share of existing common granting releases in the total amount of 1,194,340,178 shares, they will receive 0.03349842 shares.
Because no fractional shares are being issued, the percentages for each holder may vary due to rounding. I’m not sure what you are using this information for, but that’s an important point for holders.
Hope this gets you what you need. I'm out until tomorrow so if you have any follow up I will probably respond then.
Edgar
...
XOOM, Oh MY these facts can be troubling, especially to AZC and his Clingerons
Amended POR 7-Tells US BIG MONEY Signatures MUST Happen First BUT B4 Closure
WMI's sub's outside the bank ( and bank sub's ) aside as a separate issue it spelled out in the P&A
Assets of Ban shall be purchased for the amount, or the amount resulting from the method specified for determining the amount, as specified on Schedule 3.2, except as otherwise may be provided the Failed Ban subject to an option to purchase or other asset purchased for which no purchase price is specified on Schedule 3.2 or otherwise herein shall be purchased at its Book Value. Loans or other assets charged off the Accounting Records of the herein.
SCHEDULE 3.2 - Purchase Price of Assets
(a) cash and receivables from depository Book Value institutions, including cash items in the process of collection, plus interest thereon: securities (exclusive of
(b) the capital stock of Market Value Acquired Subsidiaries), plus interest thereon:
(c) federal funds sold and repurchase Book Value agreements, if any, including interest thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value outstanding extensions of credit:
(g) Safe Deposit Boxes and related business, safekeeping business and trust business, if Book Value any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiaries: Book Value
(j) amounts owed to the Failed Ban by any Book Value Acquired Subsidiary:
(k) assets securing Deposits of public money, Book Value to the extent not otherwise purchased hereunder:
(l) Overdrafts of customers: Book Value
Did JPM get WMBfsb? Yes, BUT THEY HAVE TO PAY JUST LIKE IT SAYS in Amended POR 7. That might be a hair-splitting difference but that's the way it is.
...
WMI PROOF OF EXISTENCE-NOTICE WMI (EIN) Employer Identification Number THROUGH YEAR 2021-WMI I.R.S. IDENTIFICATION NUMBER: 91-1653725
EIN Format The EIN system was created by the IRS in 1974 by Treasury Decision (TD) 7306, 39 Fed. Reg. 9946. The authority for EINs is derived from 26 USC 6011(b), requiring taxpayer identification for the purpose of payment of employment taxes. The provision was first enacted as part of the revision of the Tax Code in 1954. This authority was broadened in 1961 by 26 USC 6109. An EIN is usually written in form 00-0000000 whereas a Social Security Number is usually written in the form 000-00-0000 in order to differentiate between the two. There are EIN Decoders on the web that can identify in what state the company registered the EIN.[3][4] A business needs an EIN in order to pay employees and to file business tax returns. To be considered a Partnership, LLC, Corporation, S Corporation, Non-profit, etc. a business must obtain an EIN. Those businesses that do not are considered proprietorships and the Owner / Operator SSN is used on any tax documents. Also, financial institutions such as banks, credit unions, and brokerage houses will not open an account for a corporation without an EIN. Since all corporations - including ones with no income - must file at least a federal income tax return, a corporation operating or incorporated in the United States generally must obtain an EIN anyway either before or after being issued its charter.
EIN Expiration/Cancellation EINs do not expire. Once an EIN has been issued to an entity, it will not be reissued. An EIN is for life, and it will stay with your business unless you cancel it or change it for specific reasons.[7] There are many instances where you might need to change your EIN number, including purchasing or becoming a subsidiary of another business. You may also need to change your EIN if there are changes to the ownership structure or if you are a sole proprietorship subject to bankruptcy proceedings. If you change your location or business name, remember that you don't need to get a new EIN, but you will still have to report these changes to the IRS. You can report a change of business address with an IRS Form 8822 B. If you are changing your business structure, you can file an IRS Form 8832. A new EIN will automatically replace your old EIN, so you don't have to cancel/deactivate it. Technically, you don't really cancel an EIN. What happens is that you close your account with the IRS; you might do this if you closed your business or you never got started. But you can 'reopen' this account along with its EIN. The same EIN number is never given to two business entities. If you open a separate business enterprise, then you will need a unique EIN unless they are merged together into one distinct legal entity.
History September 25,1889 Washington National Building Loan and Investment Association June 25,1908 Washington Savings and Loan Association September 12,1917 It was operating under the name WaMu Savings Bank 1983 Demutualized and stock in the capital stock savings bank was first offered for sale on March 11, 1983 and trade on Nasdaq under
WAMU. https://en.wikipedia.org/wiki/Washington_Mutual
July 22, 1994 Washington Mutual Savings Bank EIN: 91-0461640 Expired/Cancelled 22nd day of July,
1994 by and among Washington Mutual Savings Bank, a Washington stock savings bank ("WMSB"), Washington Mutual Federal Savings Bank, a federal savings association ("NFSB"), OLYMPUS CAPITAL CORPORATION, a Utah corporation ("Olympus") and OLYMPUS BANK, A FEDERAL SAVINGS BANK, a federal savings bank ("Olympus Bank").
https://sec.report/Document/0000912057-94-002554/0000912057-94-002554.txt
August 10, 1994
Acquisition:
Form SC 13D Olympus Capital Corp /ut/
SC 13D - General statement of acquisition of beneficial ownership
SEC.report OLYMPUS CAPITAL CORP /UT/ Form SC 13D (Subject)
SEC.report WASHINGTON MUTUAL SAVINGS BANK Form SC 13D (Filed by)
https://sec.report/Document/0000912057-94-002554/0000912057-94-002554.txt
FISCAL YEAR ENDED DECEMBER 31, 1996
WASHINGTON MUTUAL, INC.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
http://getfilings.com/o0000891020-97-000305.html
October 23, 1997 WASHINGTON MUTUAL INC EIN: 911653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/0000927087-97-000300.txt
FISCAL YEAR ENDED DECEMBER 31,1999
WASHINGTON MUTUAL, INC. I.R.S. EIN: 91-1653725 Active/Current
EXHIBIT 21
WASHINGTON MUTUAL, INC.
SUBSIDIARY LISTING WASHINGTON MUTUAL BANK
Chartered under the laws of the state of Washington
DBA: Washington Mutual Bank WM Business Bank Western Bank NEW AMERICAN CAPITAL, INC., a Delaware corporation WASHINGTON MUTUAL BANK, FA DBA:
Washington Mutual Bank, FA Alta Residential Mortgage, Inc. ARMT, Inc.
Federally-chartered under the laws of the United States
https://www.snl.com/IRWeblinkx/ShowFile.aspx?
KeyFile=394590190&Output=HTML&Format=SGML
FISCAL YEAR ENDED DECEMBER 31, 2000
WASHINGTON MUTUAL BANK, FA FEDERAL CHARTER
EIN: 68-0172274 Expired/Cancelled
https://www.sec.gov/Archives/edgar/data/1058259/000093313601000007/0000933136-01-000007-0001.txt
December 4, 2000
Washington Mutual Savings Bank
EIN: 91-0461640 Expired/Cancelled
https://sec.report/CIK/0000928062
FISCAL YEAR ENDED DECEMBER 31, 2004
WASHINGTON MUTUAL, INC.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
http://getfilings.com/o0001047469-05-006351.html
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005
WASHINGTON MUTUAL, INC.
EIN: 91-1653725 Active/Current
http://media.corporate-ir.net/media_files/IROL/10/101159/reports/2005form10KA.pdf
FISCAL YEAR ENDED DECEMBER 31, 2006
WASHINGTON MUTUAL, INC.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2007-03-01%20Washington%20Mutual%202006%2010-K.pdf
May 2, 2008
WASHINGTON MUTUAL, INC.
EIN: 91-1653725 Active/Current
http://www.snl.com/Cache/IRCache/c2d115e11-c5b9-9a28-43ae-105722621b7e.html
January 12, 2012
Section 5: EX-99.4 (EXHIBIT 25.1 - FORM T-1)
WASHINGTON MUTUAL, INC.
EIN: 91-1653725 Active/Current
https://www.snl.com/Cache/IRCache/cf3f7912f-5e05-eeea-6d81-0ab19e14a2d5.html
March 19, 2012
WMI HOLDINGS CORP.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000090951812000116/mm03-1812_8a12g.htm
Fiscal year ended December 31, 2017
WMIH Corp.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000156459018004269/wmih-10k_20171231.htm
FILED AS OF DATE: January 8, 2018
COMPANY CONFORMED NAME: WMIH CORP
.
IRS NUMBER: 91-1653725 Active/Current
FORMER CONFORMED NAME:WMI HOLDINGS CORP.
DATE OF NAME CHANGE: 2012 03 20
FORMER COMPANY: FORMER CONFORMED NAME: WASHINGTON MUTUAL, INC
DATE OF NAME CHANGE: 2006 10 17
FORMER COMPANY:
FORMER CONFORMED NAME: WASHINGTON MUTUAL INC
DATE OF NAME CHANGE: 1994 11 23
https://www.sec.gov/Archives/edgar/data/933136/000119312518233673/0001193125-18-233673.txt
February 12, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current
AGREEMENT AND PLAN OF MERGER among NATIONSTAR MORTGAGE HOLDINGS INC.,WMIH CORP., And WAND MERGER CORPORATION Dated as of February 12, 2018
https://content.edgar-online.com/ExternalLink/EDGAR/0001193125-18-045940.html?hash=e431640d6567aec1c5fee10e7978f7b9b038cff1f4073e88311e0f5881984618&dest=D539539DEX21_HTM#D539539DEX21_HTM
June 30, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current
https://fintel.io/doc/sec-wmih-wmih-10q-2018-july-27-17948
WMIH Corp. (WMIH) is a corporation duly organized and existing under the laws of the State of Delaware. On May 11, 2015, WMIH merged with its parent corporation, WMI Holdings Corp., a Washington corporation (“WMIHC”), with WMIH as the surviving corporation in the merger (the “Merger”). The Merger occurred as part of the reincorporation of WMIHC from the State of Washington to the State of Delaware effective May 11, 2015 (the “Reincorporation Date”).
July 16, 2018
WMIH Corp. EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000119312518218772/d524787d8k.htm
July 31, 2018
Nationstar Mortgage Holdings Inc.,(WMIH Corp as acquiring entity)
EIN: 45-2156869 Expired/Cancelled
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/WMIH-Merger-with-Nationstar-Mortgage.pdf
July 31, 2018
WMIH Corp.[color=red]
EIN: 91-1653725 Active/Current
Following the close of the transaction, the combined company will continue to trade on NASDAQ under the ticker symbol “WMIH” in the near term. As a result of the merger, shares of Nationstar common stock will no longer be listed for trading on the New York Stock Exchange. WMIH expects to change its name to “Mr. Cooper Group Inc.” and its ticker symbol to “COOP”, and the combined company is evaluating other administrative and corporate actions, including a reverse stock split, which would require a shareholder vote. WMIH will provide updates on any such actions when appropriate.
https://www.otcmarkets.com/filing/html?id=12885680&guid=Ic_EUaQlROaSfth
August 7, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/0000933136/000119312518241283/d534508d8k.htm
August 29, 2018
WMIH Corp. (the “Registrant”)
EIN: 91-1653725 Active/Current
Registrant intends to file a new Registration Statement on Form S-3ASR
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/3e63b5d0-6dd5-47da-937c-56832868840e.pdf
September 14, 2018
WMIH CORP. LAST DOCUMENT USING WMIH CORP AS NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
EIN: 91-1653725 Active/Current
SCHEDULE 14A 29 Pages
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/5d19ed93-cf11-4303-8685-a4678cbf3063.pdf
October 10, 2018 (October 9, 2018)
Mr. Cooper Group Inc. FIRST DOCUMENT USING MR.COOPER GROUP INC. AS NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
EIN: 91-1653725 Active/Current
WMIH Corp. (Former Name or Former Address, if Changed Since Last Report) 51 Pages
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/068bb841-d79b-41a5-b069-563a2a31900a.pdf
October 10, 2018 (October 9, 2018)
Mr. Cooper Group Inc.
EIN: 91-1653725 Active/Current
WMIH Corp. (Former Name or Former Address, if Changed Since Last Report) 4 Pages
https://www.sec.gov/Archives/edgar/data/933136/000115752318002024/a51880658.htm
FISCAL YEAR ENDED DECEMBER 31, 2019
Mr. Cooper Group Inc.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000093313620000005/mrcooper1231201910-k.htm
FISCAL YEAR ENDED DECEMBER 31, 2020
Mr. Cooper Group Inc.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000093313621000005/coop-20201231.htm#i305b832f46274d4895d48ffa77d825ef_7
July 6, 2021 (July 1, 2021)
Mr. Cooper Group Inc.
EIN: 91-1653725 Active/Current
https://fintel.io/doc/sec-mr-cooper-group-inc-933136-8k-2021-july-06-18814-3750
...
WaMu Purchase Assumption Agreement-SOME NEED TO CONCENTRATE ON THE MEANING OF INITIAL PAYMENT
Maybe there should be further research by the ZERO MONIES RETURNING GROUP but first they need to understand what the term, "INITIAL PAYMENT" means
The end of the WaMu saga will NOT OFFICIALLY end UNTIL the "R" or Receivership has finally been resolved/terminated and closed with FDIC being released.
https://www.fdic.gov/foia/files/washington_mutual_p_and_a.pdf
***PDF Page 20***
ARTICLE VII
BID; INITIAL PAYMENT
$1,888,000,000.00 for the The Assuming Ban has submitted to the Receiver a positive bid of
Assets purchased and Liabilities Assumed hereunder (the "Bid Amount"). On the Payment Date, the Assuming Ban will pay to the Corporation, or the Corporation will pay to the Assuming Ban, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Ban Closing) from and including the day following Ban Closing to and including the day preceding the Payment Date at the Settlement Interest Rate.
...
WaMu 299 BILLION TOTAL ASSETS PER THE FDIC
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF 299 Billion in Assets - This Number should Come Up Again
https://www.fdic.gov/about/financial-reports/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf
Bottom of page 7 below pie chart
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF
...
Dr. A's Fabulous Filings
Our friend, Dr. Sankarshan Acharya's most recent submission to the court.
Letter Filed by Sankarshan Acharya Regarding Response to the Objections Filed by the FDIC and Department of Treasury to the Equity Committee's Motion on Investigation and Examination
http://www.kccllc.net/documents/0812229/0812229100615000000000011.pdf
A refresher for those that do not know here are his previous submissions:
Objection to Disclosure Statement Filed by Dr. Sankarshan Acharya
http://www.kccllc.net/documents/0812229/0812229100603000000000011.pdf
Objection to Proposed Settlement Filed by Sankarshan Acharya
http://www.kccllc.net/documents/0812229/0812229100415000000000132.pdf
...
FROM Dmdmd1-Bankruptcy-Remoteness FACTS, True Sale, Non-consolidation
FDIC Presentation & CBA09 agree on ABS “bankruptcy remoteness”
« Reply #1»
Quote
I thought it would be easier to access this very important piece of information by starting a new topic.
FDIC presentation on April 27, 2022:
https://www.fdic.gov/analysis/cfr/bank-research-conference/annual-5th/kayotte-sgaon.ppt.pptx
Slide 2:
“ Bankruptcy-Remoteness:
-True Sale
- Non-consolidation
“Structured financings are based on one central, core principle: a defined group of assets can be structurally isolated, and thus…[is] independent from the bankruptcy risks of the originator”
Committee on Bankruptcy and Corporate Reorganizations of the Association of the Bar of the City of New York“
____________
Per CBA09 post on IHUB #457584:
“ CBA09
Wednesday, August 03, 2016 1:11:28 PM
Re: BBANBOB post# 457551
Post# of 687217 Go
Bob,
May be, just may be, the addressed assets in court were those within a "SPE". If designed via a specific manner those so called "hidden assets" would be protected from bankruptcy as follows:
The structured solution to the bankruptcy, true sale, and debt-for-tax issues varies by venue. For example, if a U.S. bank wants to securitize receivables, the structure requires two SPEs to avoid a federally taxable asset sale and to achieve off-balance-sheet financing and a bankruptcy remote structure. In the U.S. SPEs are usually organized as trusts (for tax reasons) under the laws of the state of Delaware or of New York. The first SPE is a wholly owned, bankruptcy remote subsidiary of the originator/seller, and the SPE buys the assets in a true sale. The assets are now beyond the reach both of the creditors of the originator/seller and the originator/seller. Wholly owned subsidiaries are consolidated with the originator/seller for U.S. federal tax purposes, so this achieves the debt-for-tax objective. The second SPE is the issuer of the debt (or ABS) and is entirely independent of the originator/seller. It is a bankruptcy remote entity.”
___________
Per CBA09 post on IHUB:
"CBA09 Tuesday, 12/05/17 07:34:44 AM
Re: hotmeat post# 498530
Post # of 505195
Ref: IMO, WMIIC ""owned/controlled"" these Trusts on behalf of and for the sole benefit of WMI and NOW the WMI Estate/Signed Releasors.
Comments:
SPE/Trust are designed for independent ownership. Not controlled by WMI nor WMIIC.
Yes these SPE's/Trust are the "Crown Jewel" of WMI in it's capacity of being the Parent. Also Facts of great importance:
1) The bankruptcy estate does not have jurisdiction over these SPE's/ Trusts. WMI in its capacity of equity interest does.
2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI.
A Turnover action is routine Bankruptcy procedure to bring back to WMI estate what is considered estate assets. And SPE/Trust Income is not part of the estate assets.
We are all good here with the SPE's/Trusts of the Parent - WMI. "
___________
CBA09 Ihub Post#501056:
"CBA09
Tuesday, 12/19/17 08:57:53 AM
Re: TJ0512 post# 501009
0
Post # of 550816
Ref: Couple of questions for you.
In post #498826 you made the comment
WMIIC's role was two fold:
1) Provide / Solidify assets "MBS" as bankruptcy remote. By way of "WMB" (Originator) to WMIIC (Depositor) to Trust. In effect a TWO TIER protection. Totally taking WMB out of any risk of substantive consolidation.
2) WMIIC being the depositor would also be the provider of credit enhancement. Having what is referred to as residual interest. Holders of subordinate certificates & over-collaterized loans.
Are you making an assumption in your comments above?
Comment:
Yes, assumption. My Point / Big Picture - no matter who is the depositor - Material "Force and Effect" of two tier structures.
Ref: In all of the trusts listed in the DB lawsuit as well as numerous other trusts I have seen WMB or a sub of WMB has been the originator & depositor.
If WMI or WMIIC was neither the originator or depositor for the trusts how does that benefit the estate of WMI/WMIIC?
Comment:
Safe Harbor Assets are removed from the estate. Thus. Trustee / Creditors of WMB have no claim to them. WMI is the parent they do.
Example:
Principal Subsidiaries
• Washington Mutual Bank, FA, a federal savings association, all of the common stock of which is held by New American Capital, Inc., a Delaware corporation, and all of the preferred stock of which is held by Washington Mutual, Inc. New American Capital, Inc. is a wholly owned direct subsidiary of Washington Mutual, Inc.
• Washington Mutual Bank, a Washington state chartered stock savings bank, a wholly owned direct subsidiary of Washington Mutual, Inc.
• Washington Mutual Bank fsb, a federal savings bank, a wholly owned direct subsidiary of Washington Mutual, Inc.
• Long Beach Mortgage Company, a Delaware corporation, a wholly owned direct subsidiary of Washington Mutual, Inc.
Ref: Also, On a previous post #498722 you said:
2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI.
Where are you seeing that WMI is receiving any future benefit from WMB with regard to the trusts or are you making an assumption?
Comment:
No assumption. First 1) WMI is the parent and rightful benefit to any / all future value of it's wholly owned subsidiaries. If you have any experience in PSA you will see that they are set up to ensure the "Retained Assets" are in fact retained within the SPE # 1 / SPE/Trust # 2.
I want to make this abundantly clear, sharing from my experience, generally the Parent's bank account is where the funds are first received from PSA accounts when the "Accounts Removable Provision" is triggered. Then the Parent has control and funnels whatever money's it deems necessary back to it's subsidiaries. The Parent's control part is the "Operative Word." As no expressed contract (s) are in force so as to direct the Parent as to distribution with funds received. This adds further protection to avoid substantive consolidation by the courts. "
_____________
IMO…conclusions as of April 30, 2022 @ 0230 EST:
1) ABS/MBS Trusts are bankruptcy remote
2) WMI (parent company) and old legacy WMI equity shareholders (Class 19 & 22) are the beneficiaries (via WMI beneficial interests) of the securitized loans in MBS Trusts created by WMI subsidiaries.
XXX
FROM POSTER EXO
FROM EXO
Scul why do you need someone to explain to you again? Let me explain.
In the chapter 11 bankruptcy there was the debtor in possession part and bankruptcy remote part. Are you following? 2 parts, not one, say it with me 2 parts. Good job baby girl. The debtors in possession paid their lawyers, business people $1,000,000,000.00 + during the course of the bankruptcy ( sorry the big number is 1 billion dollars plus). They paid off the debtors in order to close the bankruptcy...So now the debtor in possession part is now legally over, done, finished, past tense ect... Understand? Go back and read it all over if not..
The second part ( remember that from earlier) was bankruptcy remote!!! In other words not part of the bankruptcy, separate from, hence the second part. This is where we stand now going forward. Since this was a chapter 11 bankruptcy they get to reorganize and continue, stay alive, carry on business. There ARE ASSETS that the court could not use (look at, take, sell...because they were protected from the debtors hence bankruptcy remote. There were so many ASSETS the FDICR went to congress to change the law. Congress did but only GOING FORWARD!!! so those ASSETS still belong to the poor old old shareholder) So now we have all these ASSETS that we KNOW ARE THERE, but are protected in such a way that the company has not YET given back to their owners. No one can penetrate the corporate shield or the MANY TRUSTS that have those ASSETS. Following?
So only a few corporate or fiduciary people know how much money is in those trusts (or SPE's specialty purpose vehicles) and they have not told what is there!!! Reread the last sentence several times!!! Now do it again!!! Since they were protected they do not have to legally say we have XYZ.
Let me repeat, WE know there are ASSETS but they were protected from the debtors and for our benefit in such a way they do not need to say we have XYZ in this trust... That is why some can say 1/2 truths and cry... The funny part is old share holders should know the truth and still can not buy or sell any shares. So the lies do not affect the outcome of billions or hundreds of billions that old share holders will receive...If you think the FDIC cried 3 weeks after the theft of WAMU to CONGRESS and that was not a important FACT then go on with your belief that nothing is coming back, I just will not believe you but that is just me.
"Well, maybe LG at some day will explain to me, how a DST can exist without the WMILT *rofl*"
DST is Delaware Statuary Trust. Most all businesses use Delaware... To save time and effort look it up. ROLF There are many, many, many , many trusts because they structure them to protect them from predators or bankruptcy's as in this case.
WMILT Easy simple answer, something different that you should know or not know and it still will not affect the outcome...hahaha
Things happen behind closed doors, nonpublic information, trade secrets, Delaware trusts, Courts redact information all the time yet we live in a free society. Just because something does not make sense to you does not mean its not true. The Earth looks pretty flat to me when I was a kid but now I grew up. I learned, studied, saw pictures and now know... tadaaa the Earth is round hahahaha My opinions are mine and I share them freely.. Take them or trash them as you wish to help you understand even though I think you do but will not accept the truth because it does not fit your agenda. I have never been to space so the Earth is round... Here is another picture... That is not real boohoohoo Facts do not matter right???
I am stepping away. Those that know, know. Those who do not seek the truth will never find it!!!
Have a great day!!!
EXO
FROM Dmdmd1 on April 29 2022
Dmdmd1 Post Follows CSNY - Starts With IMO
Quote from: CSNY on April 29, 2022, 03:25:28 PM
The assets of the protective trusts WMB set up were never in the custody of the FDIC, in my opinion, although I believe the FDIC told the trustee not to disburse anything in those trusts (including income) until the FDIC said otherwise. (I think the FDIC threatened its avoidance powers and the trustee blinked, whatever its counsel said.)
I think that happened in 2021 when Mnuchin was headed out the door.
IMO...My conclusions as of April 29, 2022 @ 1725 EST:
Let's put this all into a simple big picture perspective.
1) If WMI old legacy holders (that were released in March 2012) owned beneficial interests in loans securitized into MBS Trusts ($101.9 billion)
2) assets of WMI were not conveyed by the FDIC (specifically MBS Trusts were bankruptcy-remote assets that were not under the jurisdiction of the FDIC) to any entities. So by simple deductive reasoning, the WMI assets (i.e. beneficial interests in bankruptcy remote MBS Trusts) were not conveyed by the FDIC to JPMC or any other entity. This means that the SPVs/DSTs owned the securitized loans in the MBS Trusts and not WMI, but WMI owned the beneficial interests to the MBS Trusts.
3) Per the "source" the value of WMI assets are valued at $625 billion ($25 billion in cash + $600 billion potentially in COOP stock).
If we assume:
Total in WMI assets in September 25, 2008 (seizure date) = $102 billion
What is the compounded annual interest rate if the total in WMI assets is currently worth $625 billion in 2021 (13 years)
IMO...my answer: approximately 15% annual interest x 13 years
Calculations: (use the simple compounded daily interest calculator from compouddaily.org) Make sure you mentally equate days into years on the calculator
$102 billion x 13 years x annual interest rate = $625 billion
annual interest rate = approximately 15%
4) IMO...ultimately, the WMI assets have grown 15% compounded annually for 13 years.
5) If all the Hedge Funds/big players like Bonderman et al and the underwriters can wait more than 13 years for the WMI recoveries, so can we (retail).
IMO...I concede that the Hedge Funds/Bonderman et al/the underwriters do not have control of the timing of the WMI recoveries. So all of the interested parties have to ask, who does control the timing of the WMI recoveries?
MY answer, it isn't them, and it certainly isn't retail. So who is in control? The public will never know exactly, but we now know who isn't in control.
There is nothing for us retail to do other than to wait along with the "smart money".
IMO...For those who claim nothing is coming back, I just say that's your opinion, and I think that opinion is incongruent with the opinions of the Hedge Funds/Bonderman et al/the underwriters.
...
WaMu Holy Grail + WaMu Holy Grail Two
Investors Who Signed Timely Releases by 3/2012 – Also, Notice what is highlighted in the Original Holy Grail referencing WMILT
March 19, 2012 (Effective Date) was deemed an OWNERSHIP CHANGE which is why some investors who signed timely releases have markers in their accounts
1. WMI Liquidating Trust, as successor in interest to Washington Mutual, Inc. and WMI Investment Corp., formerly debtors and debtors in possession
http://www.kccllc.net/wamu/document/0812229180831000000000001
set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
http://www.kccllc.net/wamu/document/0812229180831000000000001
Also One of My All-time Favorites – The WaMu “Holy Grail” – Your Honor, The Assets Will Still Be There – The EC Can Go After Them Later
2. Pages 70-72 of Transcript Link Below
We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained ASSETS.
Now, it's my position, Your Honor, that the examiner doesn't need to do much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
Actions From Underwriters Who Know The Process Very Well-Their Actions Are VERY Telling
***Lucky Panda’s Post Response to Large Green***
I just picked up on the $96mil claim that Dmd was referring to where they were awarded class 19 escrow. Based on that award amount, if you assume 75/25 to the end and say the final safe harbor return ends up around $50B, that $96mil claim would be awarded $350 mil and that seems excessive. But if you assume the preferreds get face plus accrued interest, they will receive around $70mil plus accrued interest, bringing them very close to the original $96mil.
Again, I'm not making any legal arguments based on any POR7 documentation, just based on that award size by the estate. And I'm sure the estate had a pretty good idea of what was in safe harbor back in 2012.
3. ***Dmdmd2020’s PERFECT Response*** to Lucky Panda
I believe that underwriters (Morgan Stanley, Credit Suisse, Goldman Sachs) are not in the financial world just to break even. They are in the business of making as much money as possible!
The underwriters agreed to the stipulation on March 23, 2013 (about a year after WMI Ch. 11 emergence on March 19, 2012). Therefore, IMO...the underwriters knew exactly what they would get back from Class 18, as opposed to Class 19. They opted for Class 19 because they would get a bigger recovery. Don’t you think if they thought that Class 22 would get a bigger recovery they would have negotiated for a Class 22 claim instead of Class 19?
To be clear, IMO...the underwriters are expecting a lot more than just breaking even, and Class 19 was their best option!
***Perfect Response from Dmdmd2020 to show one of the actions that drills home the 75/25 discussion and Large Green’s response follows***
Dmdmd2020, your response regarding the people who KNOW how this game is played (since they did similar underwriting) pretty much had an OPTION of where they wanted their returns to come from due to a negotiated settlement. Of course, they could have asked for the very last rung on the ladder which is Class 22 or Commons BUT they did NOT.
AND the BIG MONEY PLAYERS (the underwriters) that know took Class 19 which are the former preferred and NO THEY DID NOT want their returns from common shares or Class 22
,,,
BIG A and little a
A and a ... represent ASSETS BIG and small
...
This is very close to the infamous Smoking Gun we have been looking for all these years.
Newflow, combining into one post for clarity and easy reading. This is a VERY IMPORTANT find and thank you.
This is very close to the infamous Smoking Gun we have been looking for all these years.
In other words, the book-entry records are the definitive source for determining the legal holders of the beneficial interests in the Liquidating Trust. The person or entity recorded in that system as holding a particular Liquidating Trust Interest will be treated as the owner of record for that interest under all relevant U.S. federal and state laws governing such matters
Page 7 "EVIDENCED BY BOOK ENTRY"
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
SO NO NEED OF ISSUING LTIs.IMO THOSE ENTRY SOURCES WERE BALLOTS AND W-9 SUBMITTED BY FORMER SHAREHOLDERS WHO SIGNED RELEASES.
For U.S. federal and state legal purposes, whoever is listed as the owner of a Liquidating Trust Interest in the electronic book-entry recordkeeping system maintained by the Liquidating Trust will be considered the official legal holder of that interest.
In other words, the book-entry records are the definitive source for determining the legal holders of the beneficial interests in the Liquidating Trust. The person or entity recorded in that system as holding a particular Liquidating Trust Interest will be treated as the owner of record for that interest under all relevant U.S. federal and state laws governing such matters
—————————————-
So, the difference is one set of investors received LTIs and one set of investors are in the Book-Entry system.
Now the big difference is those investors who received LTIs were those investors who were receiving monies in the active BK cases and those investors who WILL RECEIVE Beneficial Interests in the assets protected and in SAFE HARBOR so
1) Investors who received LTIs equal active bk cases
2) Investors who will receive monies outside of BK cases equal Safe Harbor/BK Remote BK-protected assets
...
The FDIC Receivership for WaMu has been updated at least twice since the Non-Truther has been claiming he received distributions so try again as you keep failing miserably.
…
Reiko, you are exactly correct as the non-truther cannot explain why the WaMu Receivership page for the 15B in SD has not gone down when distributions to his so-called ownership of bonds happened.
This when this poor excuse of a human gets distributions as he never thought of this angle before submitting total non-truths about him getting distributions for his supposed ownership of SD and/or Bonds.
…
Bbanbob, you said, I think the word PREFERRED pretty much says it all in the world of finance and the markets“.
Unless one is trying to rewrite history!
…
BBANBOB, exactly and remember those ten million preferred were not reverse split in October of year 2018 like the common equity interests were,.
That is why the UWs did not see it Alice’s way.
…
Bbanbob, ten million non reversed, shelf-ready and authorized preferred shares says you are correct and of course they will issue those preferred to those timely signed releasors.
In my view, when the shares hit there will also be a value/assets given for the dilution which will offset and will be the low side of dilution driving COOP price higher by ten to fifteen percent or so when announced.
...
JWW, who do you think the SPECIAL CUSTOMER is with 70 to 90 billion in business?
...
Well, there are two solid points we agree on there is a lot of wealth that is supposed to return and if anything is actually returned all of those who signed timely releases will do very well however, some better than others.
...
AZC, you said the following.
"WHY" ?, Dragoon's answer is correct', ... and ... That IS NOT an actual individual ... "brokerage screen print" ... of ANY ACTUAL WMB Note Ownership'
__________________________________________
Well AZC, you seem to tell more lies than JB which I thought was impossible. This is EXACTLY from MY Brokerage account which is a copy/paste
...
Does possession become the law?
..,
RD, now that would be wonderful if it happens. So, if I understand you correctly we should see the Ps or preferred this week if it happens?
...
Mr. Obfusucation...Answer the balance sheet page with no reduction. Your obfuscation sadly says it all. Actions are very telling.
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AZC, you really should cease with the nonsense of distributions being made to the SD investors! If any monies were paid to the SD and/or Bondholders, then the reduction would reflect on the FDIC Receivership page for WaMu just like the page reflects DB roughly 3B claim and the 2B reduction from the FDIC/DB/JPM California case bringing the total owed to Bonds of around 15B. There are no further reductions contemplated at this time per the FDIC.
BUT, BUT you are the ONLY SPECIAL INVESTOR that has been paid!
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Ask him what he is talking about as these are the same five flavors he boasted about on BoardPost before he was booted off.
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