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.
Hi, do you have a link for the WaMu (PLR) Private Letter from the IRS? I remember I read it some time ago among the post here. Many thanks.
Hopefull, we shall find out on April 22, 2019
http://www.kccllc.net/wamu/document/0812229190417000000000003
Page 2
"Per Paragraph 7 of the March 28, 2013 Stipulation (the “Stipulation”), it “is subject to approval of the Court and shall be of no force and effect unless and until it is approved.” To date, the WMILT has produced no evidence that the Stipulation was approved by the Court. Further, though the Stipulation provides that it may be amended by (a) a signed writing executed by the Parties thereto or (b) an order of this Court, the WMILT has provided no evidence that the Stipulation was modified to negate the obligation that this Court approve the Stipulation"
"THJMFW Approved the Stipulation on;
February 4th, 2011. One day after the Stipulation was agreed to. Yes, the Stipulation can, and was Modified and the Modification did not need to be re-approved.
Please see Alice's own filing for THJMFW's signature approving the Stipulation. PDF20/77. "
But they are two different Stipulations. The Stipulation attached by the WMILT recent Response is dated March 28, 2013. So it is impossible to have it approved by "THJMFW on February 4th, 2011"
The Stipulation shown on Alice's filing PDF20/77 is not the same as the one shown by WMILT recent Response. (the last 7 pages)
It is nice to learn that "The Deutsche issue is heading to probate court on May 17, 2017 in California."
According to the settlement agreement, the settlement is supposed to be finalized at the Orange county superior court in California. Would you kindly provide us the link regarding to your information?
https://www.fdic.gov/bank/individual/failed/wamu_dbntc_jpmc_fdic_settlement.pdf
Indeed, if the DBNTC issue can be closed, it will be a good news to us with escrows.
Thanks.
Hi,
Would you please explain more about the significance of the following event:
January 9th, 2017: DBNTC-JPMC-FDIC Settlement Agreement. CASE REASSIGNED TO GLENDA SANDERS EFFECTIVE 01/09/2017
How does this affect the settlement or the filing for the Judicial Approval proceeding?
Thank you.
Would you please supply links regarding to the DBNTC/FDIC/JPMC settlement case filing at the CA orange county superior court? It will be nice to know that settlement will be final as well as the closing date.
Thanks.
Are you still making the tabulation table? It seems like Nov 25 will be the date in reaching the $1.75 average price.
Will you continue to post the VWAP table for the coming days? Thanks.
I have P's and Q's. But the majority was P's. I got my wmih through the first distribution from P's and Q's. The second distribution was only from P's since my Q's were so small in quantity. Thus no distribution from Q's the second round.
I had P and received the second distribution of wmih as well too on 8/3/2015.
LG, may be we shall know more no later than June 15 of 2013 since they are required to hold shareholders meeting within 15 months after the settlement date? Thank you for your sharing of thoughts all these years. Patience is a virtue. GLTA.
E-trade charged me $30 each for the two different classes of equities that I own: U and P.
WASHINGTON MUTUAL INC 7.75% SERIES R NON CUMULATIVE PERPETUAL CONV PREFERRED STOCK VOLUNTARY REORG FEE CHARGED $30
WA MUTUAL CONTRA CUSIP VOLUNTARY FEE CHARGE $30
May be it is due to my ignorance, I assume that the MM has issued "I owe you" when dealing in between sales. Now is the best time to cover, isn't it? This is the only logical guess I can come up with seeing such a massive volumn. I should go back to lurking. Thanks for the exchange of idea. Cheers.
Hi, can it be the mm doing the transaction? Or can it be NSS? But the question is who in the right mind still holding shares that are not locked in?
Nop, sorry. But I see that other posters have made responses. GLTA
I started to keep the record of pps of wamuq.pk on Dec 13, 2011. The closing price that date was 0.096. I hope this helps.
Mr. Willingham said,"Thus, regardless of whether the Court determines that the proportional distribution of Reorganized Common Stock should be modified or is not permitted under the Bankruptcy Code, the Equity Committee believes that the Plan is confirmable and should be confirmed."
Paragraph 38 of http://www.kccllc.net/documents/0812229/0812229120213000000000021.pdf
Yes, it looks like the U's are in dangers of getting wiped out. I hope there is miracle. GLTYA
Thanks for the quick response.
May I ask how much do they charge you for processing the voting/reorganization on all classes of wamu equities. E*Trade charged me $60 for the U's and P's. And they told me that the $60 will be refunded to my account if the settlement does not go through. I wrote to them many times questioning the charges. Their reply was the it is their policy to charge $30 per position. Do anyone have any suggestion? TIA.
Thanks for the suggestion.
I was charged $60 for the two classes that I voted ALREADY. They say they withhold the $60 for it costs $30 per tender. And they will put it back to the account if the settlement does not go through. I use E*Trade.
Help! I am with E*trade. How much should they charge you when you vote your different classes of Wamu equities in the same account? TIA.
Many thanks.
May I ask how did the conversion rate calculated:
1. There are 3,000,000 Ps.
2. Ps will be 70% of the new company.
3. 70% will be equivalent to 140,000,000 share of the new company
4. As such, 1P = 46.67 share of the new company.
Why did you say "1 WAMPQ = 18.6667 shares in the new company "
TIA
Does it mean that they intend to wipe out the share holders like what they are doing to the Wamu equity holders?
So sad and so mad.
Thank you for your explanation. My key question is whether our legal system has taken a position to blindfold herself even it is so obvious that the bankruptcy court or procedure is used to eliminate the crime of wrong doings.
The Hedge Funds are running their "usual" business. Their aim is to get humongous return regardless of the means utilizing all their connection and their power because of their size. And they are more than willing to be used by JPM and FDIC to achieve their gain.
In this sense, there is no justice. I sure hope as what you have said that the WAMU case is a groundbreaking case to expose such a unfair practice in the security world.
For me, if I gain anything out of WAMU, ironically it is only due to the greed of the already rich people who think they can run over people regardless of rules and regulation. Enough ranting, I should go back to lurking.
Don and WithCatz,
I am a learner through this case about bankruptcy. By and large, settlement among the top creditors has such a predominate priority. Such that the debtors and his cohorts can aim to run down the commons even they have committed fraud along the way. And the norm in a bankruptcy court case, commons should have been eliminated long time ago. It seems to me this is the lesson drawn from following this case for over a year and half.
But my question is, this may be true for a “normal” bankruptcy case. Yet our case here is not a normal bankruptcy case.
The case here was the JPM and FDIC viciously hijacked a solvent bank and then brought in the big guns SN’s to help them to loot the carcass at will. And together they designed a GSA and POR to moot the commons even to their last chance to seek litigation against the crime done. Is this fair at all? Or is this absolutely legal according to the bankruptcy laws of our land?
Should we separate the bankruptcy case of WAMU from other case? Since it is an induced take over with fraudulent act in the very first place, how can bankruptcy court be used to cover the wrong doings of JPM and FDIC? Should we bring this up to JMW and ask her this question? Or even if it is argued that it is only a conspiracy theory, but is it true this is the flow of the case of WAMU?
Thank you for reading my question. TIA.
Donald
Don, thanks for the reply.
We are up against huge crocodiles which are ruthless. In as much we want to see justice prevail, we see not even a glimpse of hope for the moment, especially how much we want to see Rosen gets disbarred. We want to see settlement before the written argument deadline. It did not happen. We say there may be settlement before oral argument. And this is also a wishful thinking for the moment. Recently, WMI just loaded up with more attorneys. It indicates to us they want to fight against the equity share holders until death.
In as much we don't see the realization of hope in the near future, we have to hold on to some facts:
1. There was negotiation of settlement 7. Though it was turned down by SG, we can say WMI wanted to settle. We just did not know the terms and how much SG wants.
2. We are in a much stronger position than where we were at the end of last year.
3. The SNH are in trouble situations now. They wanted to see settlement.
4. JMW has much more information to rule on. And these info are in our favor.
Lastly, we have to trust justice will prevail. Sorry to say even if we loose out on wamu, justice will one day catches up with the criminals. IMO
Nate's hearsay - pursued, Bet's hearsay - not pursued.
Yes, this is a good observation. And clearly we don't understand why it is treated differently. It seems to me that JMW wants to protect JPMC in each and every way. I hope SG will tackle it in DC. May I humbly ask whether Bet can follow up with submitting evidence of trading activities of JPMC?
May justice prevail.
It is a joke for the FDIC to sue against the CEO and officers in this case. Did FDIC loose any money because of WAMU? Your direction of me to the court case is telling. You are dumbfounded to the questions I asked.
We are still fighting for ourselves and justice. What reasons do you have to tell us not to fight? Is it you are our friends as such that you don't want to see us in fighting a futile war? Is it you want to have more money to channel down into your pocket? You are our adversary. Friend, never, eom.
We should have put in ignore. You keep saying the commons will be out of money. Why are you still writing in the board?
The rationale for the commons (i.e. EC) keeps on fighting is that we are wronged against. It is obviously a fraud between the evil parties (you know who they are) to rob the shareholders without conscience. Hard earned retirement of many people were ruined since the robbery. Denying the shareholders to receive what little is left in the company is another robbery.
If fighting is making it real to give less amount to deliver to evil parties, would you think it is not the least the commons can do? What do we have to loose?
Of course, we are not there yet. The EC showed that they have solid proof of fraudulent activities of the hedge funds. We are in the position to take down the POR and GSA.
If your sole purpose is to bash against us, please stop. What incentive do you get from doing all these? What is your motive? Who are your representing?
Thank you for sharing your found with us. It is thrilling to note that there is a change of mood in the mass media tilting to the shareholders. We certainly hope this kind of mood will size up in the near future. As such the facts about wrong doings done by JPM, FDIC, Hedge Funds can be revealed. Yearning for justice to prevail is not such a fantasy, isn't it? Are there any hope in our legal system? IMO
BigBang, yes, all things happen with a purpose. We may not understand the purpose behind it. But it does not mean it does not exist. Those "two guys" are designed to make waves. The purpose is for sure not to benefit us Longs. The real beneficiary must be someone else. We are only the side show.
Though we can say this time, with the repeated delays of depositions and the silence from major parties, we can deduce that this time may not be history repeating itself as of March 2010. Yet this is only a logical deduction / speculation.
We shall find out more from the court hearing on Tuesday hearing. In the mean time, I hope we all can sleep well and keep our poise. May justice be uphold and at the same time, we can get paid somewhat. And all the bad guys bear the consequence of their wrong doings. Is it too much to ask for?
AIMHO
Thanks for the explanation.
But I am still not quite certain of it. After all the collusions Rosen has made with JPM & FDIC from what we see in the GSA, I am not sure that Rosen has changed masters. As of now, 4 hedge funds have been kicked out of the GSA. I am not sure that they still can be considered in control of Rosen.
But it is all speculation from the sideline.
Thanks so much to all that have done DD in the last three years to keep us alive.
There will be more revelation this coming week. AIMHO
Go Wamu, Go susman
But if the hedge Fund engineered the leaks, why would Rosen help in kicking in the comment?
Rosen is not on our side, that is for certain. There must be reason that he makes public comment. Is it to give time and space to cover the shorts? Why would it be no halting of trading with open comment from Rosen?
In as much we don't understand, it is a good day for us. IMHO
DrR,
I have been lurking for over a year. I begin to see a glimpse of light at the very end of the tunnel recently . Would you or anyone tell me when is the court date of the appeal of the EC be heard at the higher court? TIA
TD
What can he say otherwise? Can he tell people how does he feel publicly without jeopardizing himself?
Common, don't treat him as "god" that a polite comment carries so much unsound weight!
Back to lurking.
"if anyone runs into SS again, please just ask him if he still thinks LIBR knows what shes doing."
May I say that the more people invest in wamuq, the more people will join the fight against our adversaries. Of course, I agree we need to do DD before stepping into the muddy water. Caution is necessary. Hash response will turn people away. Go Wamu, go.
Go back to lurking.