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Am I understanding these correctly, the bankruptcy case is closed , all claims have been paid to creditors. Any money leftover belongs to the shareholders , if any left . Thanks for sharing this valuable info.
My shares have been also removed from my account as of today. I also received the same email you got from etrade . Let's just make sure we keep a hard copy of this email. Good luck to all and let's hope for the best outcome. Thanks for the information you provide to us , I appreciate it.
Thank you so much imawswami and bbanbob for sharing this information with the board , I will send a letter to etrade too. Good day and good luck .
I got the same email , they will be remove in 30 days , no transfer agent just make sure you retain a copy of the email , good luck to all
Cash and investments down to 8367000... From 8508000 if I'm no mistaken, Someone got paid 141000 last Friday.... Wonder who got paid.
I'm with You on your opinion, It's understood . the information you are sharing is very much appreciated. Thank you very much SIR.
I hope You are correct NTG , since may 2021, they have taken about 105 mills from the Receivership Balance Sheet Summary , that alone is about $3.50 a share.
Did anyone notice that on 4/20/22 the FDIC transfer out 7.3 millions out of UNITED WESTERN BANK - Receivership Balance Sheet Summary , there were 16 mils now 8.7 mils, does anyone know if someone got paid?
another month uwbk not included, hope it gets added tomorrow e https://public-inspection.federalregister.gov/2022-06655.pdf
Believe when I say You are one of the few posters that make sense of all this. I'm glad You take the time and try to make us understand the process and logic behind this mess. Thank you very much for sharing information on this board.
I can't believe it Not yet.....https://public-inspection.federalregister.gov/2022-02564.pdf
Thank You very much Imawswami, I follow the way you think and the explanation you provide, it absolutely makes sence, the information and your point of view is appreciated .
I'm glad We have You on this board , Thanks a lot for your take on this. Hoping for a good output , good luck to everyone .
I think there is a tie Gary Busey and Danny DeVito will hilarious fit for the job ...... So newtogame what do you make out of "they buy an annuity which was like $580???" thanks
Thank You sir for your response . Indeed makes sense . The last time they moved money out of the dividend account was about 98 millions (50 from cash and investments and 48 from unpaid deposit claims ) back in june. I wonder where that money went to !!
Hewho , so how do you expect to see it end after more then 2 weeks of document 729 and 30 days from ending objections, waiting on closure of receivership, are there any more steps to this process? or we will see a court document of the final closure. thanks
Yes sir math is correct . You are stating that for every 37 shares of uwbk we get 1 fcnca .. My take is more like for every 59 shares of uwbk we get 1 fcnca.
C L A N K.. I saw that federal register , we are not included .
will it be distributed to us? I really hope it will be distributed to us . Maybe HEWHO or NEWTO can answer question .
All that information is online . for example https://www.fdic.gov/news/press-releases/2013/pr13103.html
You are absolutely correct , it does not include interest.
..........I count a little over $200mm
jpmc 40 rmbs 515 millions 17 uwbk rmbs= 200 mill ;BofA =110 millions for uwbk ;Morgan Stanley 14 rmbs 63 million ;RBS = 16 millions for uwbk rmbs ; plus libor
..........I count a little over $400mm recovered
FALSE ALARM ....ALMOST FLIPPED OFF MY CHAIR ...uwbk not included
Indeed bbanbob ,in my point of view and understanding tha is a sure thing, now let me say this "who knows what the MAIN BUCKET HOLDS" hopefully it will be a posite surprise.
Imawswani ,your personal impressions make a lot fo sense to me , thanks for the input . I'm convinced that we will get something out of this 10 year old tenure and a minimum of $2.50.
So let digest your statement, are you implying that our corporate investment has generated 66 millions over the last 7 to 10 years or am i reading this wrong ,because that's some serious cash in the pot to generate that much.Thank you sir
Great informative post, thanks for all the knowledge you've provided us .
It takes a real men to post what you wrote ....I respect you for that and thanks for all the info you shared with us all this years
I hope you are right on this, thanks
Administrative Liabilities $5,337,000 for the last 3 months, someone already got paid a good chunk of change and I don't think this was for the shredder nor the CPA
Cash and Investments $ 16,366
Due from FDIC Corp and Receivables 0
Assets in Liquidation 0
Estimated Loss on Assets in Liquidation(1) 0
Total Assets $16,366
Total Unpaid Deposit Claims $151,511 9 %
they shuffle the numbers , as of yesterday they had 66 mills at the Receivership Balance Sheet Summary and today we have 16 ....they deducted 45 mill plus the 3 % missing for a total of 90 mills, where did that money go ?
https://receivership.fdic.gov/drripbal/bank/10331?FIN=10331
Even thought The Balance Sheet for the Receivership currently shows a net deficit of $(139,298,000.00) or 12% , it does not match the fdic dividends sheet of 10331 UNITED WESTERN BANK 01/21/2011 10331 TRADITIONAL DEPOSIT 3.074% 90.667% 05/27/2021 indeed there is a discrepancy of 3.1% about 47 mills . where is that money at?
So is it about 16 mill per percentage, will guess 48 mill total payment for 3 percent claim balance . Total drrip assets will be around 115 mill.
This figures are in millions. https://receivership.fdic.gov/drripbal/bank/10331?FIN=10331 link for the latest, the old information is a screen shot that i have saved , but it won't let me upload the screen shot.
Assets Current Balance 05/10/21 02/26/21
Cash and Investments $66,364 $33,881
Due from FDIC Corp and Receivables 0 $15,421
Assets in Liquidation 0 0
Estimated Loss on Assets in Liquidation 0 0
Total Assets $66,364 $49,302
Liabilities Current Balance
Administrative Liabilities $65 $1230
FDIC Subrogated Deposit Claim $201,414 $201414
Uninsured Deposit Claims 0 0
Other Claimant Liabilities $4,183 $4,183 (IRS)
Unproven Claims 0
Total Liabilities(2) $205,662 $206,827
Net Worth (Deficit) $(139,298) $(157,525)
Total Liabilities and Net Worth $66,364 $49,302
Total Unpaid Deposit Claims $201,414 12% same as before
Hewho Look again , as of last week total assets were 49,302,000.... what do we have now 66,364,000 that's 17 mill more as net worth ... and total unpaid claims still at 12% which is 201 mill, this hasn't changed
If that usb series I is part of uwbk , We will see it at the Receivership Balance Sheet Summary by the end of the month when it gets updated . There is no other place where that money will go if it belongs to uwbk.
It is impressive all the money they recovered !!!!!
1-from jpmc 515 millions divided in 40 rmbs which 17 of them are from uwbk
2-BofA =110 millions worth of rmbs for uwbk
3-Morgan Stanley 14 rmbs for a total of 63 million .do not know how many are uwbk
4-RBS = 16 millions for uwbk rmbs
5-Plus libor caseand who knows if I'm missing something .
That is more then the Assets Not Purchased by Assuming Institution of $256,846,259.85 . I will guess close to 350 recovered. I really hope something comes to us .
Thanks imawswami , I clearly follow your opinion and I also make sense of your Logical pattern of this one of a kind situations. NOLS are a given to sell off.... with a blessing from the FDIC, but who bought them? Strongly suspect FCNCA ...... or USB for being a debtor for uwbk . Remember they have to have 51% relation to uwbk's nols or full blessing from the fdic.
Yes BOB That is exactly what I mean Schedule 3.5(1) or indeed it's the NOL which we don't specifically have a value for it or its it recoveries that Newtogame has been talking about.
Thanks Imawswani for responding . Indeed it's helping visualize this puzzle. Let's say that if they got the full allotment of USB Investments of 250 mill will you guess that:is this related to the Net Operating Losses from the bank that was sold to an X buyer or is it from Assets Not Purchased by fcnca that were excluded in the deal or this money is part of the recoveries . Your due diligence and understanding is highly appreciated