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WMI LIQUIDATING TRUST AGREEMENT
https://www.sec.gov/Archives/edgar/data/933136/000090951812000131/mm03-1212_8ke101.htm
IMO,Nationstar share holders and Equity holders (Wand Merger) need to be paid out first, their cash and COOP shs at pps 16.32 (WMIH 1.36 times 12) according to the merger and purchase of outstanding equity agreement.
IMO, as proof, to show that he did not enjoyed any additional income icw the overcharging of which Nationstar Mortgage LLC had accused of.
http://www.letonalaw.com/nationstar-mortgage-sued-overcharging-homeowners/
IMO JPMC already paid the 151 billion FDIC Subrogated claim. (see WASHINGTON MUTUAL BANK - Receivership Balance Sheet Summary)
https://www.investopedia.com/terms/s/subrogation.asp
IMO, it is about time to pay the Nationstar share holders and Equity holders (Wand Merger) their cash and WMIH shs 416,000,000 at at 1.36 (12 times 1,36 = 16.32 COOP) according their merger and purchase agreement.
https://www.sec.gov/Archives/edgar/data/933136/000119312518092371/d544188ds4.htm
The purchase and merger took place since July 31st 2018. The payment to the Nationstar shareholders and Equity holders have not yet been executed.
Purchase agreement,(see Eclipse) to Nationstar shareholders and Equity holders to receive WMIH shs at 1.36 pps (COOP 12*1.36=16.32)
4. Entry of this Order is not intended to have nor shall it have, any effect whatsoever on the Griffin Appeal and no party to such appeal may use this order or the closing of these chapter 11 cases to support or defend any position taken in the Griffin Appeal.
https://www.sec.gov/Archives/edgar/data/1545078/000119312519323975/d820838dex991.htm
PLEASE TAKE FURTHER NOTICE that all distributions shall expire on June 30,
2020
http://www.kccllc.net/documents/8817600/8817600200414000000000001.pdf
440 million WMIH shares at 1.36 (Coop 12*1.36=16.32) plus cash was agreed to be paid to Nationstars shareholders. See Eclipse
The U.S. Senate Sub-Committee (Levin – Coburn Report) reveals in its findings of fact that WaMu sold and securitized at least $615B of residential mortgage loans through its subsidiaries “WaMu Asset Acceptance Corporation” and “Washington Mutual Mortgage Securities Corporation” who acted as “Depositors” in the securitization transactions.
https://bpinvestigativeagency.com/why-jpmorgan-chase-did-not-purchase-ownership-of-615b-worth-of-wamu-loans-in-three-simple-steps/
After the filing date November 14 2019
They till December 12 2019 for their objections and their was none.
Final distribution should happen within the 180 days.It is understood that they paid fractional shares on January 13th.
IMO, November 14th 2019, the Trust and Debtors filing date.
Chapter 11 Case Closing and Discharge
Under D.N.J. LBR 3022-1, the Clerk shall close a chapter 11 case 180 days after confirmation of the plan. The attached flow chart illustrates the Court’s procedure for closing these cases. It also highlights an individual chapter 11 debtor’s responsibilities prior to discharge, including the documents that must be filed.
NOTE: The Court’s local form, Chapter 11 Debtor’s Certification of Completion of Plan Payments and Notice to Creditors requires notice to creditors and includes an objection period. As a result, a hearing date that is more than 21 days from the date of the Certification must be entered on the form by the debtor’s attorney. Objections must be filed no later than 7 days prior to the hearing date. The debtor’s attorney must serve the form/notice on all creditors and parties in interest and file a Certification of Service.
http://www.njb.uscourts.gov/content/chapter-11-case-closing-and-discharge
Question is, why not deleting the CUSIPS if their is no assets.
http://wmish.com/POR/3rd/ex_E-J.pdf
Don't forget that their were 3 bks.WMB that was taken and WMB/WMIIC that applied. All the info you have received all these years were icw WMB bk and receivership.So all the billions, not forgetting 1.88 billion paid by JPMC are hidden in the WMI/WMIIC bk. Don't forget the the DBNTC Trustee and U S Bank Trustee.
Again THE FINAL REPORT OF EXAMINER and Alice Griffin reply.
http://online.wsj.com/public/resources/documents/WM-Examiner-Report-pt1.pdf
http://www.kccllc.net/wamu/document/0812229191219000000000001
Copy paste
A chapter 11 case begins with the filing of a petition with the bankruptcy court ... provided that the last installment is paid not later than 180 days after the filing of ...
https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics
https://sec.report/Document/0001193125-19-294873/
Copy paste Eclipse:
The sum of (1) the product of (i) the number of outstanding common equity shares issued by WMIH prior to giving effect to the Acquisition, (ii) the exchange ratio for such shares set forth in the Acquisition Agreement and (iii) the value of such common equity interests (it being understood and agreed that the value of each such share shall be deemed to be the price set forth in the Acquisition Agreement regardless of the actual trading price of such share) and (2) the value of the common equity interests in WMIH issued to the equityholders of the Company (it being understood and agreed that the aggregate value pursuant to this clause (2) shall be as set forth in the Acquisition Agreement) (clauses (1) and (2)
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
Equity holders as I understand, did not received their cash/stock payment (see Eclipse}. The total votes cast imo shows, that the 416,300,000/12 were included.
444 million plus 416.3 million WMIH shs for a total of 860.3 WMIH or 71.7 million COOP shs, of about 91 million outstanding shs need to vote,
According to the Agreement, WMIH would pay 1.36 per share WMIH ( COOP 16.32 )
Their problem imo is, the difference that need to be taken care of bearing in mind the today trading COOP PPS.
Yes 2018, Thanks
Thank you.
Wand Merger was merged into Nationstar July 31st 2019. 1.7 billion in cash and WMIH 416.300,000 ( Coop shs 34,691.667 ) to be paid to LTW (8.77%) and Equity holders.The total shs to be distributed is more than 1/3 of the total COOP outstanding shs.
class 22 registered voters result.
Yes, it was the 2012 Sharp declaration icw January 31st / Febr 9th 2012 Pref, LTW and class registered voters result.
With 3 accepting ballots for class 19 and 5 accepting ballots for class 22 (LTW plus class 22 registered voters)
The 14th is the voting date. What I send was a copy of the agreement which gave them the right to receive 8.77% of the distribution to class 22.
The voting date May 14th 2020
It looks like class 21 LTW holders, also need to receive their shares icw the Wand Merger purchase before May 14th 2020.
See David Sharps declaration page 12/13
Quote:
with respect to Class 21, in accordance with the Stipulation
and Agreement Between the Debtors and Class Representatives of the LTW Holders Resolving Adversary Proceeding and the LTW Proofs of Claim, dated January 10, 2012 (the “LTW Stipulation”) and the order, dated February 11, 2012, approving the LTW Stipulation [D.I. 9649], votes to accept the Plan were deemed cast in, among other Classes, Class 22.
Because the class of holders of Litigation Tracking Warrants are to receive 8.77% of the distribution to Class 22, for voting purposes, they have been given 8.77% of the votes in Class 22, which Class also includes, as mentioned above, certain Claims that have been subordinated
to the level of Class 22. In the chart above, such Claims have been converted into share count, by dividing the amount of each such Claim by the per share price of WMI common stock as of (a) the Petition Date, (b) the close of business on the day immediately preceding the Petition
Date, and (c) December 12, 2011. In those three scenarios, for voting purposes, the share count of the class of holders of Litigation Tracking Warrants in Class 22 is (a) 199,308,239, (b) 167,295,356, and (c) 241,655,193, respectively.
Unquote
http://www.kccllc.net/wamu/document/0812229120213000000000026
IMO, hoping for an increase of COOP pps. According the Agreement; they were to receive their shares at 1,36 WMIH (COOP 12 X 1,36 = 16.32). At current PPS means additional shs ?
IMO, purchase price 1.7 billion minus 416,300,000 times 1,36 per share.
It is understand that fractional shs were paid to escrow holders during the 3rd week of January 2020.