Democracy starts with you, tag your it! ...Thom Hartman
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.
Maybe little bo BOP didn't release ?
No release, she can sue/appeal without paying the consequences. Either way I'm lol
Where it got us? The trip is almost over. If you know what you own, you can chill. Been pretty easy to step aside for me over the last couple years. Just waiting on process, and it appears Ron and AZ are right.
The court "speculated" by granting 2012 re-organizion.
Walrath "speculated" in her approval, that the debtor in this CHPTR 11 bankruptcy reorg (not CHPTR 7 liquidation) had put up enough assets in the WMILT to satisfy creditors.....and that any Chapter 11 scraps (not the sum of the whole WMI as a Chapter 7 would do) had a mechanism for distribution (75/25)
That's is just from one trust (WMICT) of many. As AZ so clearly has shown.
take that $8 + 13 more trust values + interest compounding since Q4 2008 = Happy Life Changing Event*
*if one released to receive this future distribution
Have you seen/read the last posted court schedule of matters postponed and/or going forward?
Just curious what else may on there, or was this chick in NY the last item as it sounds like?
Wow! Per filing, "As of the date hereof, the only remaining unresolved claim
subject to the Objection is Claim No. 1295 of Mary L. Somerfeldt (the “Somerfeldt Claim”).
thx Ron
Ain’t that the truth, posters are always confusing.....or maybe it’s purposeful, shameful, and manipulative insertion of Chapter 7 criteria in lieu of our own solely relevant Chapter 11 commandments.
Knowing the difference between the two, is a breath of fresh air. The fork in the road leads to two separated cities on separate coastlines.....One can’t travel the Chapter 7 highway and reach Chapter 11. Nope, sorry. Ignorance is bliss.....until it’s not.
Wow, your quoting that pussycat now? LMAO. My how far you’ve come
ok Sys
If i understand and to add.......MARTA and TMF were/are 'Accredited Investors' and have been/are now receiving their investment participation as 'Accredited Investors'.
There is no longer any threat of loss to their 'Accredited Investment', nor any current loss to their 'Accredited Investment'........therefore ol' meat's stale argument about Class 18 boogymans is intentional rubbish.
Now that 'Accredited Investors' are getting paid, and alice in wonderland stops going down the rabbit hole, then we get paid.
Whaddup friend! I think TPG got and are gettin paid. they've been quiet for a reason. Accredited Investor INSIDERS been getting paid every month since 2012. Nothing to squawk about.
The passage of time has left quite a trail. The longer they stretch it out, the deeper they commit, and the less wiggle room is left. IT's all funneling down to a tight bottleneck. At some point, they will have to cram so much thru at once, it becomes stuck. Their options are limited, as we begin to 'know what we own'.
I'd think there are enough brains here to find and exploit those bottlenecks until one or more of them gets caught up in the traffic.
We don't know exactly what AAOC/TPS bought or released, or in what fluctuations fro 2008-2012....... but as Accredited Investors it stands to reason that the bulk of their investment was in the actual principal/interest certs that only Accredited Investors can buy. They probably bought enough retail interests in P,K,Q as far as it benefited their attempts to wrest control of the estate. Once caught inside trading through colorable claims, I wonder how much they really ended up with in the long run. They couldn't really buy back in after mediation spotlights I'd think. But all in all, I'd bet the bulk of their investment....was in the actual principal and interest certs.....that only high net worth individuals and and funds can access.
As they've been likely receiving payback on their original bulk of investments as Accredited Investors since 2012, why would they care if some of their retail style legacy purchases like ours (if any) get held up......especially if getting held up means that COOP has collateral to play with.
If I were them I'd probably sacrifice some time over my minority investments to revenge spite the retailers that beat me at my own bankruptcy game.
There is more than just money at stake in these delays. Retail is hated here.
obviously. one only needs to look at her history and see that she says one thing but does the other. And by other they wouldve been fatal to retail.
Retail's share must be being withheld for WMIH/COOP's benefit without appropriate filings., how else in the world did WMIH with nothing but NOLs buy Nationstar and others?
How did WMIH qualify for any credit with KKR, etc, without having some collateral. I think you're right, and that retail investors legacy financial interests have been held hostage solely for the 'Accredited Investors' (colorable insiders) that are invested/involved here with WMI/WMI/COOP.
Accredited Investors have had the last 7 years to receive nearly all their principal and interest. They didn't have to put up a dime to grow COOP.
We retail investors are the Mule they rode and ride currently,.........our earnings......our legacy interests. They leverage our interests - for their benefit - at no risk to themselves.
They got paid, big hammer got paid, and mom and pops are still holding the bag.
I'd think they'll just keep extending the LT to infinity to utilize any such blocking mechanisms as necessary, until we stop them or our legacy interests are no longer needed as collateral ...
I can think of a few places to file complaints. Time for these leeches to bounce.
This makes perfect sense. So if the Accredited Investors received their distribution all these years since 2012....then what happened to our Retail Investors portion?
Hopefully its been held by someone collecting interest? Can the restructuring component, A&M, steal it....or tie it up as collateral for their benefit - or COOP's benefit? without our having a say?
I'm ticked, if they will just use Alice Griffen and some other future delaying excuses (appeals) for months or years to come, maybe us retail need to file something in Walrath's court to flog these donkeys along (insert the other synonym).
Brian Rosens attempts to close were a good sign, but it seems like we got four flat tires still on our cart.
What do you make of the now reported Disbursements/Payments: and more specifically....
"Dispursements to Newly Released / Allowed Claims" of $101,021,880, out of "Restricted Cash".
Is this a sign that all the other random claims in the 'Claims Register' that are scheduled to be paid, are getting paid now? Another sign this BK as Rosen stated, is about to be closed?
Remember the WMILT said reorganized WMI wasn’t supposed to trade after re-org? Someone created a market for it anyways probably knowing how much time this would take. They’ve yo yo’d this around for years, taken profits, and now have to return the ball back to the locker room.
imo, this will be taken back down to nothing where it started, these so called by the LT ‘non-trading’ shares.
Seems like another obvious 'blocking and delay mechanism'.
AZ's post # 568567 spells it out clearly.
If it is a declared asset or liability of a WMI Chapter 11 bankruptcy, then that is all that is at stake for 75/25%. Just those bits. Those are the table scraps you, Alice, and others keep fighting over. Only those SPECIFICALLY listed assets and the liabilities claimed against it.
Where's the beef then? All other assets not declared in BK or not needed to comply for Chapter 11 - the ABS participation income, goes back to the original WMI participants. They are outside the Chapter 11.
P's get their portion from the ABS trusts underwriting it.
Q's get their portion from the ABS trusts underwriting it.
Exactly, this was Chapter 11, not Chapter 7. It was a re-organization, not a liquidation of everything WMI. Therefore, as Chapter 11 re-org, it is designed and legal for there to be 'something' leftover.
Creditors and claimants specific only to the WMI Chapter 11 don't get anything, other than what's specifically listed as up for grabs in Chapter 11. As listed in the LT QSR. The debtor just has to put up just enough of their total assets to satisfy debts - not everything like in a Chapter 7.
The WMI Chapter 11 fight, was just over a partial pile of stuff as listed throughout the Bankruptcy. Everything else resides outside the court. I dont know why its so hard for many to understand the difference between Chapter 11, and Chapter 7. Understand the 2 distinct bankruptcy structures, and it all falls into place.
As a business owner, I know I can declare Chapter 11, and not list all my assets. I only have to list enough to settle the claims necessary for me to re-organize with a judge's approval.
WMI did the same thing but on a macro level.
What's really cruel genius, is the 10 year, 24/7, Wag-the-dog message board marketing to keep retail barking down the wrong trail.
People are ....still.....fighting over table scraps, when there is a huge burger sitting off to the side with our name on it.
Basically the WMILT has been playing 'hide the sausage' amongst themselves this whole time. Way to go Mike and Doug
Any chance the PPS ...needs....to be brought back down to 2012 re-emergence from BK levels? The equivalent of $.40 cents or so? Return to the original 2012 structure of 'Fair and Reasonable' specific distributions in the QSR that the LT has jurisdiction over .... If the DCR is soon to be released... Is their a legal need for any distributions of WMILT remains, to be at the original 2012 calculated PPS and distribution ratios?
After all, the WMILT said that WMIH would not be trading.......and then lo and behold it did! WMIH (now COOP) went from pennies to dollars, and then now back to the equivalent in pennies! Someone played the PPS all the way up, and then all the way down knowing they had time on their side, and what PPS base to return to.
During the Bankruptcy, we saw the same cycle. WMI trades in the pennies initially, and then throughout 4 years of Bankruptcy it trades in multiples beyond, until seconds before the big event of re-organization emergence, it plummets back to pennies where it started. Someone played the PPS all the way up, and then all the way down knowing they had time on their side, and what PPS base to return to.
I would say insiders knew how long this would take, and knew they had years to string along the Employee Claimants in Walrath's court, as a means to kick this can down the road long enough to recover from inside trading, what they lost to us retail........ in "colorable claims."
Same cycle, same circle, same insiders, same reorganization trustee. One big collusive group.
Keep in mind, I'm only speaking about LT cash/share residuals listed in the QSR. I'm not worried about other residuals outside the LT, that other trustees like Wells Fargo, US Bank, and others are refereeing (thank god)
thx for the update.
Hahaha, they may be in the closet, but everyone else can see which team they’re batting for
Maybe Walrath has the debtors official ‘ post to close’ document, and she’s just double checking that Hichberg doesn’t see any outstanding remaining Examination issues prior to close
Ya, if I were these crooks I’d want to time any legacy ABS returns simultaneously with any COOP/ LT/BK specific news. Any hoots and hollerin would be confused by the average Joe/Jane to be the same thing.
Maybe they’re ‘in the closet’ playing ‘hide the sausage’ ? ??
They've probably gotten quite rich inside trading all these years. Message board monitoring = pump n dump
I can't think of any good reason for all these years of delays
The coordinated chantings for everyone to sell out of their commons in 2011-12 were so intense, that I didn't trust it either, and kept all my commons. Felt like a shove thru a cattle gate, rather than friendly long advice, from people really concerned for my future. lmao
I can confirm my Schwab account Ps read that way. Further, clicking on it leads to a pop up window on the Bonds trading page. Almost as if these will be tradeable again at some point in the future.
Pretty sound reasoning if you ask me!
Thx AZ, figured it was something like that!
Why has the KCCLLC docket been washed back to 2012 on the adversary claims? Why are the latest Walrath orders removed from the closed cases?
I'd think it be relevant to see what happened recently.
great breakdown of material assets vs. assets. Thanks !
They are 2 different animals. 2 different boats with different passengers and destinations.
1) Piers and the LT, are on their own voyage. What and when Piers experience as far as delays, remaining slightly encumbered, etc...is related to the WMILT and its legal games and whimsy.
2) released Tracking markers are on a separate voyage. Those who released are not dependent on the LT's games and whimsy at this juncture, now that the final legal process have been completed.
according to the closed to public, facebook group members, the checks were for a long ago approved settlement over unpaid overtime.
this really lends credence to the CIC happening last December as you and AZ deduced.
No surviving claims, even after being debated in the court to the point of it being expected.......and now a couple days after briefing, Walrath flushes the whole Employee Claim shebang down the toilet !!
7 years of stalling. 7 years of theatrics. Employee Claims and their friggin attorney billings are now gone without so much as a nickel.
lmao! ready for HLCE in the coming months.
Does this allow surviving claims.....it almost reads that it doesn't?