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"ALL THE FUNDS REMAINING UNDER TRUST"
Is that $800K charity or HLCE?.
JUDGE TO AG NOTEWORTHY "SO YOU ARE NOT ASKING TO STAY THE DISTRIBUTION TO CLASS 18 AND ALL THE FUNDS REMAINING WITH THE TRUST."
ALL THE FUNDS REMAINING WITH THE TRUST?.HOW CAN THERE BE REMAINING FUNDS IF THEY CAN'T PAY CLASS 18 IN FULL?.
AG - WHY LT IS REGISTERED WITH SEC AS SAVINGS INSTITUTIONS
WMI Liquidating Trust
SIC: 6036 - SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED
READ QSR NOTE 8 or 7or 9,"in advance"
PLAN HAS TO ISSUE LTI's
(ii) Transferability of Liquidating Trust Interests
Pursuant to Section 27.8 of the Seventh Amended Plan, all Liquidating Trust Interests
that will be distributed to certain holders of Claims and Equity Interests are now non-transferable and
non-assignable except by will, intestate succession or operation of law. This change was not required by
the September Opinion but, rather, the Debtors determined that due to the significant passage of time and
the ongoing collection and/or liquidation of the Debtors’ assets, including state and federal tax refunds,
preserving transferability is not justified economically and is not in the best interests of the Debtors’
estates. Specifically, it is estimated that inclusion of a transferability right would cost the Debtors or the
Reorganized Debtors, as the case may be, approximately $11.1 million in connection with compliance
and administrative fees, e.g., fees and expenses related to the engagement and retention of a transfer
agent.
Page 28
http://www.kccllc.net/documents/0812229/0812229120116000000000004.pdf
Thanks Sidedraft.I appreciate your help.
Thanks MONICALAW.Equity had to receive certain run-off proceeds in cash payments,LTIs and Litigation Proceeds as well.
And above all, officially equity is the owners of the estate.If any one wants to buy us, they can including COOP.
JPM assumed liabilities ?.
REORGANIZED COMPANY AS DISBURSING AGENT OF LTIs, NOT LT.
In
their role as Disbursing Agent, the Reorganized Debtors shall hold Cash, Creditor Cash, Runoff
Notes, Reorganized Common Stock and Liquidating Trust Interests as agent only, and shall not
have any ownership interest in such cash, stock or interests.
As per Plan equity should receive after all claims are satisfied.
Court filed document iterated for several times equity would receive LTIs.
We should receive LTIs(or shares) from COOP inexchange for Assets,IMO.
I am not on FB MONICALAW.Could you please share your thoughts.Thanks.
I would love to hear too MONICALAW.
Where does it say "DISPUTED"?.
There is escrow cash too,read recent 10-K.$450 million was withdrawn from that escrow with permission from court for distributions to class 16 and other employee claims.
ESCROWED EQUITY INTERESTS??
PLEASE TAKE FURTHER NOTICE that, on ____________, 2020, WMI Liquidating
Trust (“WMILT”) made its final distribution of remaining assets and escrowed equity interests
pursuant to the Plan. A list of recipients that have either (a) had any such distributions returned
to WMILT due to incorrect initial or forwarding address information or (b) received such
distributions but, as of the date hereof, have not negotiated the check distributed, is set forth on
WMILT’s website, www.wmitrust.com. Any recipients’ listed thereon that have had
distributions returned to WMILT shall have until May __, 2020, to notify WMILT of such
recipients’ whereabouts and receive such distribution.
Where dd you read DCR has $37 Million,you made it up?.
QSR -Any distributions from the
DCR will be treated for U.S. federal income tax purposes as if received directly by the recipient from the Debtors on
the original claim or equity interest of such recipient.
As of September 30, 2019, there are no filed disputed claims. Therefore, the Statement of Net Assets reflects a
balance of $0 for DCR assets.
LT was showing only unrestricted cash as assets.
I did not expect BR would say something like there is money for equity classes today.
Thanks.DID BR MENTION ABOUT DCR AND WHAT LITIGATION THEY SPENT MILLIONS ON?.
Litigation proceeds interests are not as asset of LT.
DTC maintains escrows for whose benefit?.
Thanks Samurai..i will follow the steps you suggested.
Ok will try that,thanks.
DID ANYONE TALK ABOUT "LITIGATION PROCEEDS" IN TODAY'S HEARING?.
Could you please share the audio.I tried the pdf but found nothing.Thanks.
Any one has audio file?.Thanks.
Your brokerage statements should have escrow cusips listed for every month.
9662 has only those shareholders who had shares on record,directly holdings stock certificates.If you have shares on street name, you wont find your name in that list unless you held shares directly.
TPG HAD 225 Million shares totally into bankruptcy.
Divide these shares with 360 to get to COOP.
But TPG has 225 Million Escrows atleast.
t..s could you be more elaborate on how to see what you saw about K's.I tried positions, there is no quote on K's.Thank you.
Mr.Upadhya is an associate at Grant & Eisenhofer, focusing on complex pharmaceutical and medical device litigation, securities, appraisal, and whistleblower/qui tam litigation. Mr. Upadhya previously worked with G&E’s mass tort division, where he worked on multi-district litigation involving prescription drugs such as Xarelto and Zofran.
Mr. Upadhya is currently representing the State of Delaware in qui tam litigation involving an allegedly fraudulent scheme by retailers to avoid their gift card escheat obligations to Delaware. Mr. Upadhya was also involved in In re JPMorgan Chase & Co Securities Litigation (S.D.N.Y.), which resulted in a $150 million settlement.
WOW working to hard day and night.
BASIC DEFINITION OF PROJECT WEST,RULE 2004,FALSE CLAIMS IN BK?
TRESPASSING BOOKS AND RECORDS OF WMI AND EQUITY HOLDERS?.
PROJECT WEST???
AG KUDOS, YOU DID GREAT.YOU ARE TRYING TO PROTECT YOUR RIGHTS AND ALL EQUITY,THANK YOU.
You are a strong person with sound knowledge and education, i appreciate what you are trying.Good luck.
WAS IT A PROMISE (ofcourse in agreed documents) to recover 30B for the equity constituents by debtors?.
$30 B + is close to Tower of Babel presentation.
RULE 2004,REMEMBER?.
THIRTY BILLION
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
DEBTORS DID NOT WANT PURSUE COLORABLE CLAIMS AGAINST SETTLEMENT NOTE HOLDERS WHO HAD CLAIMS AGAINST THE ESTATE.
"The Court has already found that there are colorable
16 claims for equitable disallowance of the settlement
17 noteholders' claims against the estate and that the debtors
18 have refused to pursue them and that because the claims are
19 colorable, the debtors' refusal to pursue them is not
20 justified. "
DID THE COURT ERRED IN STATING FAIR & REASONABLE?.
Did any of employees spent time with Goulding in sfo in the name of conference in a same hotel?.
LT DRAGGING COURT IN RECENT FILING THEY TRIED IN THE PAST TOO.
"It is not up to the Court to tell Mr.
13 Rosen and the debtors and the creditors' committee whether they
14 are on the right track or not."
http://www.sidedraught.com/stocks/WashingtonMutual/Transcripts/2011%20October%2006/Hearing%20about%20Mediation-10062011.pdf
DID THEY COOK THE BOOKS?.
Something is not smelling right.
$116 B MBS became $76 Million?.
MECHANISM PUT IN PLACE FOR THE STOCK
DTC?
"So if there was some mechanism put in place
5 with respect to the stock that would otherwise go to people at
6 the end of the day, it wouldn't matter, Your Honor, because the
7 liquidating trustee is bound to just take that other stock and
8 vote it on that same proportion by proportion basis."
IS "OTHER STOCK" STARTS WITH "J"
Can somebody help with this "other stock" quoted by debtors.
http://www.sidedraught.com/stocks/WashingtonMutual/Transcripts/2011%20October%2006/Hearing%20about%20Mediation-10062011.pdf
TWO SOURCES - POTENTIAL RECOVERY FOR E UITY HOLDERS GRANTING RELEASES:
If the Seventh Amended Plan is approved by the Bankruptcy Court, WMI's equity
holders who have granted timely releases will obtain potential recovery through two sources:
ownership of the Reorganized Debtor and interests in the Liquidating Trust (following
satisfaction of claims senior in priority to equity interests).
page 240/256 from todays filing
http://www.kccllc.net/wamu/document/0812229191216000000000001
I ASSUME 1% ATTORNEY ESTATE PROs FEE WOULD PUT ASSETS AT $27 Billion
Any guesses?.
LG NO OTHER DETAILS, BUT THERE WERE PLAN CONTRIBUTION ASSETS
That were transferred to DCR which is not an asset of the LT and LT is not the disbursing agent for DCR and Litigation Proceeds imo.