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..as.pick. you should try it yourself.lol.
Live chat is ready https://dor.wa.gov/contact
Just check whether WMI Liquidating Trust is active or not and who the governors are.
Call center is closed today between 10am and 1pm.
https://dor.wa.gov/manage-business/my-dor-help/contact-numbers every former equity holders, contact by chat.Its very easy and very helpful.Thats what i did.I chatted with two people, both confirmed WMI Liquidating Trust is active as of today and being managed by Mr.Smith and Ms.Logan with mailing addresses from Queens Creek,AZ and P.O.Box from WA state.I asked the representative why did they file anything in WA state and the response was that probably some members are from WA state.I assume,some subsidiaries are from WA and Ms.Logan is from AZ.Every shareholder should try and make sure we are all on the same page.May be Ms.Logan using their business address from AZ while Mr.Smith is using P.O.Box which was published in the FAQs.We all can request the court for proper communication from the administrators and others involved.
Doreen owns a flight hmm
https://registry.faa.gov/AircraftInquiry/Search/NNumberResult?nNumberTxt=791AA
JUST CONTACTED WA STATE REVENUE DEPARTMENT
WMI LIQUIDATING TRUST IS ACTIVE AS OF TODAY AS PER WA STATE REVENUE DEPARTMENT
THE BEST - ARE FORMER SHAREHOLDERS BENEFICIARIES WHO ARE CONTROLLING LIQUIDATION OR MERGER OR CONSOLIDATION
Post-Confirmation Process - TRUST BENEFICIARIES
With respect to the post-confirmation process, the Opinion stated that (i) the
Equity Committee should continue to have a role, albeit limited, after confirmation to protect the
interests of shareholders, Conf DX 265 – Opinion at 107, and (ii) there should be some
mechanism for replacement of the Liquidating Trustee by the beneficiaries of the Liquidating
Trust. Conf DX 265 – Opinion at 108.
Page 32/199
http://wmish.com/docs/810/8439-debtors.pdf
" THIS WAS A REQUEST IN 2011-2012"
GRANTOR/BENEFICIARY GRANTOR/BENEFICIARY - OURCASE
Revenue Procedure 94-45 prescribes the method by which a taxpayer can request a letter ruling
wherein the Internal Revenue Service (Service) makes the determination that a particular trust qualifies as
a liquidating trust. If the conditions in Rev. Proc. 94-45 are met, the taxpayer can effectively escape the
grantor trust rules by deeming the transfer as a two-step transaction: (1) the corporation or partnership is
deemed to transfer its assets to the liquidating trust’s beneficiary; and (2) the beneficiary is deemed to
transfer the assets to the liquidating trust.12 The result is that the liquidating trust is still a grantor trust, but
the grantor is deemed to be the beneficiary, not the transferor.
https://www.cobar.org/Portals/COBAR/Repository/Sections/Tax/Newsletter/Liquidating_Trusts_as_Grantor_Trusts_November2020.pdf
"THIS IS ABOUT WHAT THE LAW SAYS"
Page 4/5 SAME WORDING AS ABOVE.
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
"THIS IS RELEASED BY COOP IN 2020 IN CANCELLATION OF EQUITY TOO"
Conclusion
Liquidating trusts are grantor trusts. The identity of the grantor depends on whether a letter ruling
is obtained from the Service pursuant to Rev. Proc. 94-45. If the Service determines in a letter ruling that
the trust is a liquidating trust, the beneficiary is deemed to be the grantor due to a deemed two-step
transaction. If the Service does not determine in a letter ruling that a trust is a liquidating trust, the transferor
may be deemed to be the grantor, which may result in a trust that is disregarded for income tax purposes.
IRS RULING LETTER
https://www.irs.gov/pub/irs-wd/201808004.pdf
"THIS TWO STEP PROCESS IDENTIFIES TRUST ULTIMATE BENEFICIARIES", OFCOURSE AFTER CLAIMS ARE DONE WHICH HAPPENED BY JAN 2020.
THIS IS THE BEST POST - Post-Confirmation Process - TRUST BENEFICIARIES
With respect to the post-confirmation process, the Opinion stated that (i) the
Equity Committee should continue to have a role, albeit limited, after confirmation to protect the
interests of shareholders, Conf DX 265 – Opinion at 107, and (ii) there should be some
mechanism for replacement of the Liquidating Trustee by the beneficiaries of the Liquidating
Trust. Conf DX 265 – Opinion at 108.
Page 32/199
http://wmish.com/docs/810/8439-debtors.pdf
Read from Page 63 onwards,its fun even after 14 years.
Save a copy.
Post-Confirmation Process - TRUST BENEFICIARIES
With respect to the post-confirmation process, the Opinion stated that (i) the
Equity Committee should continue to have a role, albeit limited, after confirmation to protect the
interests of shareholders, Conf DX 265 – Opinion at 107, and (ii) there should be some
mechanism for replacement of the Liquidating Trustee by the beneficiaries of the Liquidating
Trust. Conf DX 265 – Opinion at 108.
Page 32/199
http://wmish.com/docs/810/8439-debtors.pdf
1.141 Liquidating Trust Beneficiaries: The (i) holders of Allowed Senior Notes Claims, Allowed Senior Subordinated Notes Claims, Allowed General Unsecured Claims, Allowed CCB-1 Guarantees Claims, Allowed CCB-2 Guarantees Claims, Allowed PIERS Claims, Allowed Late-Filed Claims, and Allowed WMB Senior Notes Claims, (ii) Accepting Non-Filing WMB Senior Note Holders, and (iii) in certain circumstances, holders of Allowed Subordinated Claims, Preferred Equity Interests, Dime Warrants and Common Equity Interests, to the extent such holders have received Liquidating Trust Interests under the Plan (and any transferee thereof, and any subsequent transferee of any transferor of Liquidating Trust Interests in accordance with the provisions of Section 27.8 of the Plan).
This was filed on 02/24/2020, not 12 years ago.Still talking about "in cancellation of equity" in 2020?.Why?.Page 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
GRANTOR/BENEFICIARY GRANTOR/BENEFICIARY - OURCASE
Revenue Procedure 94-45 prescribes the method by which a taxpayer can request a letter ruling
wherein the Internal Revenue Service (Service) makes the determination that a particular trust qualifies as
a liquidating trust. If the conditions in Rev. Proc. 94-45 are met, the taxpayer can effectively escape the
grantor trust rules by deeming the transfer as a two-step transaction: (1) the corporation or partnership is
deemed to transfer its assets to the liquidating trust’s beneficiary; and (2) the beneficiary is deemed to
transfer the assets to the liquidating trust.12 The result is that the liquidating trust is still a grantor trust, but
the grantor is deemed to be the beneficiary, not the transferor.
https://www.cobar.org/Portals/COBAR/Repository/Sections/Tax/Newsletter/Liquidating_Trusts_as_Grantor_Trusts_November2020.pdf
Page 4/5 SAME WORDING AS ABOVE.
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
Conclusion
Liquidating trusts are grantor trusts. The identity of the grantor depends on whether a letter ruling
is obtained from the Service pursuant to Rev. Proc. 94-45. If the Service determines in a letter ruling that
the trust is a liquidating trust, the beneficiary is deemed to be the grantor due to a deemed two-step
transaction. If the Service does not determine in a letter ruling that a trust is a liquidating trust, the transferor
may be deemed to be the grantor, which may result in a trust that is disregarded for income tax purposes.
IRS RULING LETTER
https://www.irs.gov/pub/irs-wd/201808004.pdf
Page 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
GRANTOR/BENEFICIARY GRANTOR/BENEFICIARY - OURCASE
Revenue Procedure 94-45 prescribes the method by which a taxpayer can request a letter ruling
wherein the Internal Revenue Service (Service) makes the determination that a particular trust qualifies as
a liquidating trust. If the conditions in Rev. Proc. 94-45 are met, the taxpayer can effectively escape the
grantor trust rules by deeming the transfer as a two-step transaction: (1) the corporation or partnership is
deemed to transfer its assets to the liquidating trust’s beneficiary; and (2) the beneficiary is deemed to
transfer the assets to the liquidating trust.12 The result is that the liquidating trust is still a grantor trust, but
the grantor is deemed to be the beneficiary, not the transferor.
https://www.cobar.org/Portals/COBAR/Repository/Sections/Tax/Newsletter/Liquidating_Trusts_as_Grantor_Trusts_November2020.pdf
Conclusion
Liquidating trusts are grantor trusts. The identity of the grantor depends on whether a letter ruling
is obtained from the Service pursuant to Rev. Proc. 94-45. If the Service determines in a letter ruling that
the trust is a liquidating trust, the beneficiary is deemed to be the grantor due to a deemed two-step
transaction. If the Service does not determine in a letter ruling that a trust is a liquidating trust, the transferor
may be deemed to be the grantor, which may result in a trust that is disregarded for income tax purposes.
IRS RULING LETTER
https://www.irs.gov/pub/irs-wd/201808004.pdf
Reorg shares were issued to former equity for releases provided to certain creditors.
WMILT assets were allocated to Liquidating Trust Beneficiaries who were direct owners of the assets and treated by grantors as such.
LT"partnership-type fashion" -allocate taxable income or loss (i.e., the tax impact of receipts and expenditures) in a partnership-type fashion
The effect of the above described allocation is to allocate taxable income or loss (i.e., the tax impact of receipts and expenditures) in a partnership-type fashion, due to the varying tiers of beneficiaries in the Liquidating Trust.
Page 239
https://www.sec.gov/Archives/edgar/data/933136/000090951812000087/jg02-2712_8ke22.htm
https://www.irs.gov/pub/irs-utl/liquidating_distributions_partner.pdf
Creditors threw us a bone!!
gain or loss to such holder could depend on whether the Reorganized Common Stock is viewed as being received from certain creditors in exchange for releases rather than from Reorganized WMI in respect of the Equity Interests of such holders. Holders of Equity Interests should consult their tax advisors regarding the possible consequences of their receipt of Reorganized Common Stock pursuant to the Seventh Amended Plan.
"and holders of Equity Interests comprising the Liquidating Trust Beneficiaries."
5.
Transfer of Assets to the Liquidating Trust
Pursuant to the Seventh Amended Plan, on the Effective Date the Debtors will transfer the Liquidating Trust Assets (including all of the Debtors’ right, title and interest in any tax refunds with respect to pre-2011 taxable years, but excluding the Debtors’ economic interest in the Litigation Proceeds retained by Reorganized WMI as a result of Reorganized Common Stock Elections by certain Claimants) to the Liquidating Trust, on behalf of the respective claimants and holders of Equity Interests comprising the Liquidating Trust Beneficiaries.
Page 224
https://www.sec.gov/Archives/edgar/data/933136/000090951812000087/jg02-2712_8ke22.htm
IN SATISFACTION OF CANCELLATION OF EQUITY MEANING WHAT?.PAGE 4/5
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
1. ASSETS TRANSFERRED TO CLAIMS OR EQUITY HOLDERS
2. ASSETS TRANSFERRED TO LIQUIDATING TRUST FROM HOLDERS.
GRANTORS RECOGNIZE THAT LIQUIDATING TRUST BENEFICIARIES ARE THE OWNERS.
"LIQUIDATING TRUST INTERESTS HOLDERS WERE THE OWNERS AND GRANTORS AND TREAT THE LIQUIDATING TRUST BENEFICIARIES AS DIRECT OWNERS"
THESE 2 STEPS WILL BENEFIT THE TRUST BENEFICIARIES BY DEFAULT.IMO.
Now i am on ignore now?.LOL.
So what happened to $20 Billion in assets contested by JPM,FDIC and WMI, and claims were released by FDIC and JPM to those assets?.
As per BARD How much could be the worth of ABS and MBS assets of Washington Mutual which are under a REIT?
The worth of the ABS and MBS assets of Washington Mutual that are under a REIT is difficult to estimate. The value of these assets will depend on a number of factors, including the type of assets, the underlying collateral, and the credit quality of the borrowers.
However, some analysts have estimated that the value of these assets could be worth billions of dollars. For example, a report by the Financial Times in 2018 estimated that the value of the ABS and MBS assets held by the WMI Liquidating Trust could be worth as much as $50 billion.
It is important to note that these are just estimates and the actual value of the assets could be much higher or lower. The value of these assets will also fluctuate over time as interest rates and the credit markets change.
The REIT that is holding these assets will need to carefully manage them in order to maximize their value. They will need to make sure that the assets are properly collateralized and that the borrowers are able to repay their loans.
The REIT will also need to be mindful of the risks associated with these assets. ABS and MBS assets can be very complex and risky investments. The REIT will need to carefully manage these risks in order to protect the interests of its investors.
"the chapter 11 closing of WMI has been set into LAW over 12 years ago"????F*ART?
Good catch.So WMILT had a grip on REITs and it was discussed post confirmation of the plan in Dec 2012.I always wonder why WAMU 1031 EXCHANGE is the controller of H.S.LOANS, AOC LLC, WMI RAINIER..etc???
hmmm " what Brokerage house did you work for... If I were your boss I would have fired you on the spot for admitting that the options trade was a loss "
so you are scum close the brokerage houses and trying to influence this forum day and night to get your expected results?.
As per BARD wmitrust.net domain
According to my knowledge, the domain name wmitrust.net is not available. It is currently registered to a company called WMI Trust Corporation. You can verify this by searching for the domain name on a WHOIS lookup tool.
If you are interested in registering this domain name, you can contact the current owner to see if they are willing to sell it. You can also try to find a different domain name that is similar to wmitrust.net.
-----------------------------------------
WMI Trust Corporation is a trust created to oversee the liquidation of Washington Mutual, Inc., a Seattle-based savings and loan association that was acquired by JPMorgan Chase in 2008. The trust was formed in accordance with the Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code.
The trust's website is no longer active, but its contact information can be found on the SEC filing mentioned above. The contact information is as follows:
Attn: Chad Smith and Peter Struck
800 Fifth Avenue, Suite 4100
Seattle, WA 98104
Telephone: (206) 922-2963
Fax No: (206) 922-2995
Correct info or not, no body knows.
ok..as.pick..
...as.pick.. you want links?.
ok...as.pick..
DCR - Disputed Claims Reserve EIN 45-4709825 was a separate entity than WMILT with EIN 45-6794330.The books and records of both these entities are different.My question is, how do we know if EC continued on DCR board after the TAB was disbanded?.There are three ambiguities 1. We don't know which company has the EIN 45-4709825 and its board and 2 is we have no clue what is written in Restated and Amended Liquidating Trust Agreement and three is both Mr.Smith and Mr.Southard showing their linked in profiles that they are still working with LT.
DCR was the one which received plan contribution assets as per GSA and Plan.
ok...as.pick..
ok...as.pick.
Mr.Southard was 69 in 2018 that would put him about 74 now and i believe he acts responsibly with dignity.He must be still working with the liquidation of WMILT in some form and i believe he won't act recklessly to leave his linkedin profile with no updates.Anyway, whatever the crap that RA LTA defines, no one knows what is defined in that Trust governing document.
Mr.Smith's linkedin
https://www.linkedin.com/in/charles-smith-b4179129
Mr.Southard's linkedin
https://www.linkedin.com/in/douglas-southard-234602a0?trk=public_profile_browsemap
Both profiles show that they are still working at WMILT.
Only two of the following are expected to be affiliates, in accordance with the Plan of Reorganization, immediately following the Effective Date.1
Company Name
Jurisdiction of
Formation
Owner
Percentage
WM Mortgage Reinsurance Company, Inc.
Hawaii
Washington Mutual, Inc.
100%
Ahmanson Obligation Company
California
Washington Mutual, Inc.
100%
WaMu 1031 Exchange
California
Washington Mutual, Inc.
100%
WM Citation Holdings, LLC
Delaware
Washington Mutual, Inc.
100%
WMI Investment Corp.
Delaware
Washington Mutual, Inc.
100%
WMI Rainier LLC
Washington
Washington Mutual, Inc.
100%
H.S. Loan Corporation2
California
Washington Mutual, Inc.
70.23%
WM Citation Holdings, LLC
28.44%
https://www.sec.gov/Archives/edgar/data/933136/000090951812000005/mm01-1112first_t3.htm
Probably FDIC will hold to wamu receivership for another 5 to 10 years.FDIC balance sheet in 2008 was a big hole,now they have atleast $120 B in assets?.What did they do to get that kind of money?.
ok..as.ole.
Pursuant to Section 1. 140 of the Seventh Amended Plan, WMI's Equity Interest in all of
its subsidiaries, except for WMI Investment, WMMRC and WMB, will be transferred to the Liquidating
Trust.
Page 49/129
https://www.kccllc.net/documents/8817600/8817600191119000000000001.pdf
WE SHOULD WRITE EC MEMBERS ABOUT WMILT.
Michael Willingham
Email: wservices@earthlink.net
Hon. Douglas Southard
Email: dksouthard@sbcglobal.net