Democracy starts with you, tag your it! ...Thom Hartman
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Yeah I'm ready too. This was an intentional cover up since day 1 during unprecedented times. I get it. But it's beyond time for them to #$$# or get off the pot.
With WMB (correction xxxx) bonds only now just starting to pay up, we gotta be gettin close.
all the best
While WMIIC (WMI WA) and WMI (WMI DE - now COOP)) separately reorganized in 2 separate bankruptcies (jointly administered) and eventually reincorporated by Merger in 2015, the assets and accounting of WMIIC (WMI WA) were 'eliminated upon consolidation'...meaning no longer reporting together...no longer consolidated accounting between WMI and WMIIC for the FIRST TIME EVER (in other words, legacy assets were about to start returning to WMIIC once again as Rosen mentioned would happen in court, so it was time for WMIIC to go dark --triggering elimination of consolidation accounting/reporting.)
So WMI (WMI DE - now COOP) accounts for and SEC reports on its own, separate from WMIIC (WMI WA) and its own accounting. Severed and separate.
Once consolidated reporting is severed, 'eliminated upon consolidation', then WMIIC could transfer or sell its assets to another sub entity, or maybe Parent (XXXX). Once emptied of assets, then WMIIC could be administratively dissolved to pretend there is nothing to see. It's like burrying an empty coffin, lmao. We're supposed to weep for the dead, but my point is...it isn't really dead. !!
So again, ....they, WMI (WMI DE - now trading as COOP) wave the magic Wand (Wand Merger Sub)....and as we watch the magician sleight of hand (Nationstar - Project Eclipse)....the Nationstar merger simultaneously eclipses the secretive movements of the other reorganized debtor WMIIC (WMI WA) being drained and moved/sold to another sub (eliminated upon consolidation), and whence completed, is 'administratively dissolved' ....bury the empty coffin.
So, where did the body go? ask the Parent (XXXX)
Maybe THJMW incongruously awarded the TPS assets to JPM because JPM already agreed to buy everything lock, stock, and barrel ? How can TPS argue that, and lose, unless there is another purchase agreement under-the-table by JPM, for ALL of the debtor?
It makes perfect sense to explain how the judge could grant TPS assets under those circumstances. Could be this is actually what SUSMAN flashed Rosen that caused a panic, and comments in the elevator of "you should've held out for more".. that in the document dump by Weil/G/M was reference to a complete sale to JPM
Remember JPM offered $8 per share for everything in 2007 and didnt win the bid? They obviously wanted 100% of WAMU bak then - holding company and everything.
Remember how the 5th Amendment Taking lawsuit was never appealed, or reinvigorated?
What if there was another global settlement outside the Texas Action....with gag orders all around...where the only way for the FDIC to hide this massive mistake and RICO was to back JPM in a takeover bid for the whole WMI shebang? bank and hold co? If you limit the parties involved, you control the narrative. If JPM takes over, then ALL the dialogue is just between them two, without a third party WMI which is compromised of pissed off feral activist shareholders like me who threaten 100's of Billions in claims in a 5th Ammendment Taking lawsuit. That lawsuit could never see the light of day !
It makes sense when you think of the headache unwinding what's WMI and what's WMB? Why would JPM just give up on what they wanted in the whole enterprise, and just settle for the bank? It makes sense when you think about how long this is taking...knowing JPM could be in charge? I'd drag it out forever also if I was them.
JPM and the FDIC had enough leverage over the WMI BK debtors with matching earring claims of $50B they could've motivated another set of negotiations over the WMI holding CO separately. Interestingly those JPM/FDIC matching claims leverage magically disappeared days prior to reorganization.
Also...Who fought against an equity committee representation? Alice. Who worked for JPM at one point? Alice. Who fought to delay for years via litigation that cost WMIHs its first failed acquisition, and much delayed the second acquisition of Nationstar years later ? Alice
If you were JPM in charge, wouldn't you spend a few bucks to drag out paying up for years...the final settling of accounts ?
Further, if true, this is the only scenario I could see where waiting on the FDIC applies. JPM can't get a final tally, until the FDIC can make a final tally and terminate receivership. So that mutually beneficial circle j$%k just goes round and round forever.
ha! I never wanted to be here post 2012.
Just get this show on the road already. Pay me, and I'll be gone.
such anger, spoilt plans? too much sunlight ? For a gal that pumps COOP for years at astronomical figures we've never seen nor shall see, you miss my point.
Once WMIIC was eliminated upon consolidation, and accounting is no longer reported on a combined basis between WMI and WMIIC, then those assets in WMIIC can be moved ANYWHERE into another sub....and quietly... Once its moved under cover of 'eliminated upon consolidation', then the old host can be buried. Hide the sausage. Its not that difficult. All while we're all badgered to follow the pied piper COOP
Wave the wand, eclipse the truth.
Doesn't matter, the WMB bonds are paying out now, the end is near
Tic Toc
WMIIC was Eliminated upon consolidation....... "eliminated upon consolidation" ....It does not mean extinction. It is an accounting term in Mergers by which the historical consolidated accounting connection between the parent and sub, is officially severed.
Start at the beginning. Remember there were 2 bankruptcies. Thus there were 2 reorganized debtors. The WMILT (the escrow cusips now removed) is solely for 1 solo bankruptcy - WMI, not WMIIC.
Those who released were also granted Restricted interests in BK filed #1.... legacy WMIIC
So in the few years after the 2012 BK reorganizations of both WMI and WMIIC (jointly administered), that is why you read references to a WMI WA.....and secondly a WMI DE in the reincorporation merger - because there were 2 bankruptcies. The MB pumped the legacy inheritance from only BK #2 ...WMI (aka WMI DE), to distract you from BK #1, WMIIC (aka WMI WA).
There are 'Restricted' legacy interests held privately in the name of those who released regarding untradeable (only inheritable ownership) interests inherited through Bankrucy #1 WMIIC (WMI WA), in addition to what you received openly through your interest in BK #2 the WMILT trackers and WMI DE now COOP shares.
And by the way, "eliminated upon consolidation" does not mean extinction. It is an accounting term in Mergers by which the historical consolidated accounting connection between the parent and sub, is officially severed. This is how they have hid the sausage. No longer consolidated, but now separated accounting between parent WMI, and its sub WMIIC.
One private, one publicly traded.
'watch how they wave the magic wand publicly in SEC documents and eclipsed the big dog' from your view, until they're ready to rock and roll. Can you say sleeping giant?
This is knowing what you own
At Schwab in my Transaction History under 'Action' taken, there's various descriptions such as Buy, Sell, Cash in Lieu, and Stock Liquidation.
For my preferred and common LT tracking markers, 'Action' taken in my Transaction History, is titled "Other". So something other than Cash in Lieu or Stock Liquidation.
There is no way I will ever declare my ownership, a worthless security. If a person relinquishes their securities, there will just be more for everyone else later.
pardon my ignorance, but as a holder of NQ and KQ purchased over 2 years, is there anything I need to do with these to keep them valid? ie file a W-9 or anything? They are held by my broker Schwab, so I always assumed ownership would be tracked through Schwab. TIA
'Accredited' is a pretty big deal when you're getting paid I'd say. Downplay it all you like, cause that's what you do
JPM as the govt's banker, always gets a free pass so far
Yep! We got a servicer in COOP. Just need a bank with 180B + in deposits....cheap, as in receivership cheap. And then we are almost back to the same company, less the cost of time. Ironically absorbing SVB wouldn't cost the DIF one penny, just like WMB
Maybe the FDIC can give us SVB for a small token bid price. Almost a near trade for trade.
Yes, as usual very little is plainly stated. Must've been plenty of gag orders to go around.
This Eclipse document is only about the Nationstar merger. Are you picking a 5 year date from closing based on the Series A due date? Because its seems irrelevant as there are other Series of of debt in this transaction that are 8-10 years after the transaction closes.
Is WMIIC alive? I think it is.
Filings say WMIIC was “eliminated upon consolidation”…. as in extinct. Or was it?
I’ve been reading more about that term. Which apparently only means that in a merger of formerly consolidated incomes and liabilities, the resulting ‘elimination of consolidation’ allows you to remove the impact of those former transactions…… what I call hide the sausage.
So basically “eliminated upon consolidation”... actually refers to the cleaving of WMIIC from its consolidated grouping? As-in, WMIIC is still alive.
Am I right?
It does sound like Alice. She provided the WMILT cover with her lawsuit, and surprisingly the LT ignored penalties the court was willing to award. They have an obvious relationship
Doreen Logan says she is no longer employed by the Trust, nor is the Trust operational. Yet somehow the Trust email is operational and she still speaks for the Trust? And you claim she wrote you on behalf of this dead as a door nail Trust that she no longer works for? Doreen can't legally do this. Further, since when does a Comptroller/Treasurer answer these questions? Anyone could've written this, including you. Seriously..this is written by an attorney, if it is real. Sounds like something Alice would write.
Well, it means everything. 'Common Sense' should say you should find out more about WMI WA & WMI DE's historic and current relationship, and maybe a 'When' will come into focus.
It is interesting that 'DE WMI' only had a sole stockholder prior to reincorporating with 'WA WMI' in their merger.
But, it is clear that there was a legacy WMI shell outside of BK pre 2012, and one within BK (WMI/WMIHC/WMI WA)...and then they reunited in May 2015 right under everyones noses.
Aided and abetted by frivolous litigation, trading as registrant COOP allowances, and hiding in plain sight one merger behind the other, like the sun in an eclipse
pretty slick, well done.
The history and creation of WMI Washington and WMI Delaware should be interesting...
Wow, so the WMI WA and WMI Delaware Agreement & Merger occurred SAME DAY AS Reorganized BK WMIHC Merged into WMIH Corp (WMIH). Talk about a magic wand, or could be referred to as an eclipse. Broadcast one merger, when there was actually another bigger simultaneously, that really eclipses the most publicized one.
This WMI WA is running in the dark without headlights. So hard to find, but there it is in plain sight once you know what to call it. Nobody lied, lol. Fully disclosed. Just about everyone missed it, hahaha. good lord!
No wonder it was hard to find. Every SEC search, PR announcement I did only brings up the WMIHC to WMIH merger.
I'm gonna need to correct my WMI family tree Flow Chart....happily
And then spilt coffee happens, lol. Conveniently...
Yowzaa! That is a BIG nugget! Thanks for the relevant and accompanying verbiage. I definitely missed that over the years. ‘Know what you own’ indeed! Gives me a lot to look into
Peter Struck is still VP of WMIH Corp on LinkedIn. He has commented on his LinkedIn profile within last 60 days. Hard to believe he'd be active on LinkedIn, without updating employment info if it wasn't accurate
6 new COOP filings today. 6 Statement of Changes in Beneficial Ownership. according to my email alerts. Not shown on COOP website yet.
That's a lot of ownership changes on a Friday afternoon, no ?
All insiders. Charles Marshall, Carlos Pelago, Michael Rawls, Jay Bray, Kurt Johnson, Jaime Gow
Something up? other than PPS
Yep 100%
Ya never know, lol......maybe why this is taking so friggin long.... JPM to buy everything WMI/WMB for a price determined later (BOOK VALUE) based on how bad the FDIC PAA final numbers upon receivership reconciliation termination. WMI presented their damaged numbers years ago.....RICO. Makes sense from a time duration perspective....but I got nothing to back that WAG up...yet. lol
The quickest way to untie a snarled knot of misappropriated assets, is to not untie it. Just roll it up together as one, and be done with it
Peter Struck’s LinkedIn still shows he’s presently VP of WMIH Corp (WMIH). Interesting stuff for sure
Without digging, KKR Wand was just the various KKR entities holding a security ownership in fledging WMIH CORP. imo
WAND Merger Sub, was just the WMIH sub created to absorb Nationstar, Nationstar being the surviving entity under the subsidiary umbrella of WMIH Corp (WMIH) .....now name changed and trading as COOP.
Question remains, who created/incorporated WMIH Corp (WMIH) initially prior to 2015. Who was/is subsidiary WMIH Corp's (WMIH) parent? Who laid that egg? That is the question.
Unless you know of another WAND?
WMI HOLDINGS Corp (WMIHC) was essentially Reorganized 'Washington Mutual Inc' (WMI)...the same entity.
Then WMIHC (previously WMI) is then gobbled up and disappears in a merger with and into WMIH Corp (WMIH) in 2015, apparently for "convenience" as part of the Reincorporation from Washington state to Delaware. This movement alone is probably a clue more than anything.
WMIHC is thus no more after 2015, as WMIH Corp pops up out of thin air, and survives without conflict or debate. The names of WMIHC and WMIH were so similar at the time, I think my mind just figured it was the same old WMI with another name change, until yesterday when I realized its not... WMIH Corp (WMIH) is actually another entity from ? that took over Reorganized WMI, right over everyones head... or like AZ said, we were mostly too busy watching one hand; the spilt coffee distractor's Quixotic lawsuit...while the other hand WMIH Corp quietly swept up Reorganized WMI (WMIHC) right under the rug. I totally missed it back then...
Where and How and Who created/incorporated WMIH Corp (WMIH) prior to 2015 ? It has to be related to released equity income interests imo.
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The 3 Thackerays'.....at one point I was tracking these religiously. They disappeared (consolidated) somewhere without mention....the corporate status expired years ago. Maybe they are rolled into the ultimate PARENT (XXXX) as another sub? Who knows.
One thing is for sure, whatever legacy WMI was put in the "Outside of Chapter 11 BK Box" to be reunited with later as Rosen said,....is apparently private enough to not find anything anywhere. Probably stored under some innocuous name that nobody would expect..... Brilliant move of AZ buying those certain bonds as a future Tell; canary in a coal mine.
Absolutely. I had to make a flow chart with nicknames and dba’s just to understand the knot that is called Wand Merger Sub , and Project Eclipse.
Untwist that knot and you’ll realize WhereTF and HowTF did WMIH Corp actually come from?
How does a ghost (shell?) with no history (WMIH Corp WMIH) pop up, buyout and survive our old reorganized WMI (WMIHC) seemingly out of thin air? Without conflict….just up and done.
Reorg’d WMI had to have merged with another version of itself outside of the BK (WMIH Corp as originally incorporated). It’s the only logical thing that makes sense with the limited info I can find.
Thanks AZ, I’d love to see more detail if you are willing. Actually dying to see it, lol. I’m curious to see how the heck I missed this years ago, lmao. I have your email from during the BP days before you and Ron got banned. I can email/PM you. I respect your work product and it won’t go further than me.
I’m crawling through a potential project house, so I’ll email in a couple hours later.
This is what I run into....Every google listing, Delaware corporation search, washington corporation search, etc has nothing on the CREATION of WMIH Corp (WMIH)...PRIOR to 2015.
It really is intriguing... WMIH Corp somehow appears out of nowhere to take over reorganized WMI (WMIHC). talk about stealth.....
My gut inclination is that (XXXX), who created sub WMIH Corp (WMIH), was created outside of CHPT 11 BK by A&M to hold released legacy equity ownership interests, to be reunited later on in 2015 with reorganized WMI (WMIHC).
I dont know if the POR 7 would detail this, or its just an option left to the restructuring agent to design and implement, as long as its not in violation of POR 7. ie making sure released legacy equity ownership isn't cut out, and retains its pre-2008 ownership rights.
You ask for clarity? or con? lol, most here never provide clarity either....just babble and twist. They rely on common sense, lmao.... If you want to know, how about you do something yourself? Find out How and When was WMIH Corp (a shell? and a sub of XXXX) Created prior to 2015 ?
Not sure yet who (XXXX) is, but overall I get it now. Not that I ever doubted what AZ said, I just didn't have the time in my life or mental bandwidth to deep dive into this historic stuff all over again.
It's not lost on me now that WMIH Corp (WMIH) appeared out of nowhere to merge into and take over the Reorganized WMI (WMIHC) in 2015. Who laid this egg (WMIH Corp aka WMI)?
Ultimately its all water under the bridge and doesn't affect where everything is headed. Its out of our control.... But knowing who, what, when, where, why (XXXX) is, will definitely lead to understanding of future forward movement in our favor and not feeling so blindfolded and impotent. imho
That's what they want you to see....to follow the straight line of COOPs lineage. Everything after 2015. But WMIH isn't a straight line....it comes in from the side out of nowhere and jumps in line to take over.
The pertinent question is how and where the heck did WMIH Corp (WMIH) come about to even merge with/into/survive the 2015 merger with WMIHC (reorganized WMI) ?
It just appeared out of thin air. Somebody created/incorporated WMIH prior to 2015.
WHO ? Who is the ultimate parent (XXXX) from AZs clarification post.
Find WHO, and things might start to make sense about when.
Incidentally, Peter Struck and another person's LinkedIn still show WMIH Corp (WMIH) as their present employment since 2012 as Senior VP (Seattle) and President & COO (Philadelphia) respectively. Peter still comments on Linked In as of a month ago, so I doubt he'd leave inaccurate employment information up if he's actively engaged with the website.
I really believe finding out about the inception and creation of WMIH Corp (WMIH) will illuminate who we are today, and maybe an answer to When. Who and what was WMIH CORP (WMIH).....BEFORE.....it merged and became parent of reorganized WMI (WMIHC) in 2015 ?
Everything about WMIH Corp (WMIH) is easily searchable after it merged with reorganized WMI (reorganized as WMIHC). THERE IS VIRTUALLY NOTHING about who WMI Corp (WMIH) is before the merger with reorganized WMI. It's like a ghost benefactor.
So Who was WMIH Corp (WMIH) before it became parent of reorganized WMI? Who created WMIH Corp (WMIH)? Kosturos, A&M ?
Is the 'what' created WMIH Corp (WMIH) to absorb reorganized WMI,..... the Sub of a Sub that AZ is talking about?
the 'Sub of a Sub' I'll admit I've had a hard time following the movements and mergers...wands and eclipses. 'The Company' into the Merger Sub, under project eclipse....
What's really jumped out at me today in re-reading the SEC docs and merger agreements....is HOW and Where in the heck did WMIH Corp (WMIH) actually come from? It's like WMIH Corp (WMIH) just appeared out of thin air to merge into and survive the WMI reorganized WMIHoldings Corp (WMIHC).
Was/is WMIH Corp (WMIH) a company created for and owned by those who released? Is this what you've been talking about? as in UQs own the company?
It just dawned on me while reading, that this thing called WMIH Corp (WMIH) appears and casually absorbs reorganized WMI (WMIHC), but how and where in the heck did WMIH Corp (WMIH) actually come from/about? Who laid that egg? Kosturos?
Where can i find documents about WMIH Corp (WMIH) inception?
What day is the "Commencement Date" ? How much longer? TIA. I have NQ and KQs
interesting news for sure! although selling an asset that made money, is just a one time benefit. So hopefully this potential news is part of a much bigger benefit adjacent