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POSSIBLE LG.MR.SMITH AND MS.LOGAN WERE EXECUTIVES IN WMI IN THE ROLES OF VP & GENERAL COUNSEL AND TREASURER RESPECTIVELY.THEY VERY WELL AWARE OF THE ASSETS AND LIABILITIES.BEING INSIDERS THEY BECAME ADMINISTRATORS OF LT NOW AND DISTRIBUTE THE ASSETS OR RESURRECT(AS COMMENTED BY MR.ROSEN).
FOLLOWING THE FOOT STEPS OF REMEC AS MENTIONED IN 2015 WMILT 10-K.
WE ARE AUTOMATIC TRUST BENEFICIARIES BY DEFAULT, THOUGH COMMON SHARES WERE CANCELLED, BENEFICIAL INTERESTS OF THE LT CONTINUED AND WE SHOULD SEE DISTRIBUTIONS FLOW SOON,JMO.
I SEE A GOLD LIGHT AT THE END OF THE TUNNEL.
Good catch LG.SO WMIH/REORG WMI WAS NOT REFERRING TO "WASHINGTON MUTUAL, INC."
"RESURRECT WITH OLD CREW INTACT!"
CONFIRMED - WE ARE FOLLOWING THE FOOT STEPS OF REMEC LIQUIDATING TRUST
FROM WMILT - 10K 2015
https://sec.report/Document/0001193125-16-524898/
INTRODUCTORY NOTE
As used in this Annual Report on Form 10-K, unless the context otherwise requires, the terms “we,” “us,” “our,” and “the Trust” refer to WMI Liquidating Trust; the use of “WMI” refers to Washington Mutual, Inc.; and the use of “Reorganized WMI” refers to WMIH Corp, formerly known as WMI Holdings Corp.
The Trust is following the modified reporting methodology under the Securities Exchange Act of 1934, as amended (“Exchange Act”), that is described in the REMEC Liquidating Trust no-action letter, issued by the Division of Corporation Finance of the Securities and Exchange Commission (“SEC”) on March 28, 2011 (the “REMEC No-Action Letter”). In accordance with the approach outlined in the REMEC No-Action Letter and the accompanying request, during the life of the Trust, the Trust will not file Quarterly Reports on Form 10-Q with the SEC, but will timely file (i) Annual Reports on Form 10-K containing unaudited financial statements, and (ii) Current Reports on Form 8-K to report material events as they occur. The Trust, created on March 6, 2012, when WMI and WMI’s wholly-owned subsidiary, WMI Investment Corp. (“Investment” and collectively with WMI, the “Debtors”), entered into a liquidating trust agreement (as amended, the “Trust Agreement”) with William C. Kosturos, as the liquidating trustee (the “Liquidating Trustee”), and Delaware Trust Company (formerly known as CSC Trust Company of Delaware) as the Delaware resident trustee (the “Resident Trustee”), has a calendar fiscal year. The Trust did not own or otherwise hold title to any assets or otherwise engage in any activity until March 19, 2012, the effective date of the Debtors’ chapter 11 plan (the “Effective Date”) as described below in Item 1 of Part 1 of this Form 10-K.
REMEC LT NO ACTION LETTER ISSUED ON MARCH 28,2011.
https://www.sec.gov/divisions/corpfin/cf-noaction/2011/remec032811-12g-incoming.pdf
ENJOY.
MR.SMITH AND MS.LOGAN AS ADMINS - REMEC LIQUIDATNG TRUST
WE ARE FOLLOWING REMEC LIQUIDATING TRUST.
https://www.sec.gov/divisions/corpfin/cf-noaction/2011/remec032811-12g-incoming.pdf
MEMORANDUM W X Y Z
AJMO.
https://www.irs.gov/pub/irs-wd/201808004.pdf
W - WMI
X - WMIIC
Y - WMMRC
Z - WMB
Pursuant to the provisions of the Trust Agreement, Trust was created for the
purpose of liquidating the assets of Trust, with no objective to continue or engage in the
conduct of a trade or business except to the extent reasonably necessary to, and
consistent with, the liquidating purpose of Trust. The Plan provides that the beneficial
interests in Trust would be distributed to certain holders of senior notes claims,
subordinated notes claims, general unsecured claims, guarantees claims, preferred
income equity redeemable securities claims, and holders of certain debt of Y. In
addition, the Plan provides that, in the event such claims are fully paid, the interests in
Trust would be redistributed to certain holders of subordinated claims, and after such
subordinated claims are paid in full, certain holders of preferred equity interests, Dime
Warrants, and common equity interests.
MONICA...
I AGREE LT WAS REGISTERED AS A SAVINGS BANK.REGISTERED IN DELAWARE AS A STATUTORY TRUST.
KOSTUROS IS NO MORE WORKING FOR LT, AS PER MY UNDERSTANDING OF THE APPLICATION TO CLOSE.
YOU MENTIONED: "....All other Matters are taking their sweet time to Distribute assets....DB is our Trustee, and Loan Servicer along with COOP ...All we have to do is keep Patience."
WHAT DO YOU MEAN BY "DB is our trustee"?.
and
"""ALL""" we have to do is keep patience!"""?. For how long dear unknown free adviser?.
FOR FAKE ACCNTS $3B, FOR FAKE EVRYTHING AND STEALING A SOLVENT BANK AND ITS HOLDING COMPANY HOW MANY BILLIONS?.
SO COX DID NOT ALLOW WM OUT OF DO NOT SHORT LIST BUT ALLOWED SO MANY BASED HERE AND THERE?.
AT LEAST 10 TIMES THE EQUITY IN 2008, JMO.VERY REASONABLE.
PROJECT WEST,MEETINGS IN DC BEFORE MARCH 2008 AND AFTER AND IN BETWEEN HAVING AN AGREEMENT WITH WMI AN NDA AND BLAH BLAH...
JD AND CO IS JUST BUYING TIME ALONG WITH SH AND HER CLOSE ASSOCIATES IN THE FORM OF DIRECTORS.
1 JPM FOR 1 WAMUQ NOW IS REASONABLE.
FAIR?, DONT KNOW.
WMILT CONTINUES, Mr.Smith AND Ms.LOGAN ARE THE "ADMINSTRATORS" AND LT REQUESTED IN THE APPLICATION TO CLOSE THAT TRUSTEE's ROLE CAN BE REPLACED WITH "ADMINSTRATORS".
LT WILL CONTINUE UNTIL THEY APPLY FOR DISSOLUTION OF WMILT WITH DE SOS.
You dont read but boast past experience, but no clue and no information.
Why do these paid people play a role in this bankruptcy?.What are they trying to distract?.Now LT is gone DARK,no reporting obligation.
But imo and as per my understanding Adminstrator will closely work with the Courts and abide.
JMO.
We are small fish anyway, but i believe along with TPG,Tepper,AAOC...etc.
I personally like Mr.Tepper, great personality and very knowledgeable,better than Jamie,Shiela,Timmy,Burnake,paulson.
The crooked crew imo orchestrated and designed so that it would take years together to end the case, because people would eventually lose interest,time and money for many reasons.
MW and S&G role is unique and separate.There was some privileges provided to just MW,not the entire equity,but its a different subject.
No problem LG.The one important thing irrespective of DE and GA states was about choosing assets and cash as "Disputed Ownership Fund(DOF)" for equity.
Same like our DCR and its election as DOF and structurally same as LT.
DCR can be handled by an "Adminstrator", not the trustee as per my understanding.DCR was not an asset of the trust.
So Kosturos is already left and DCR is in action working from Edmonds WA.
AJMO.
NO MORE REPORTS GONE DARK ALREADY,MONICA.
LG DCR INFO FROM ANOTHER CASE,EXPECTING THE SAME COMMUNICATION FROM LT SOON.
Enjoy.
http://www.kccllc.net/documents/1179079/1179079150305000000000002.pdf
FYI - I RECEIVED A TAX DOCUMENT FROM DCR FROM WA STATE.
TOWARDS MY PIERS PAYMENT LAST YEAR.
"DCR IS IN ACTION", LT IS OPERATING AS OPPOSED TO THE STATEMENTS OF SOME FOLKS AROUND HERE.
Picks....about asssets in 2011
"Even with F/R we all knew they were hiding assets and the Judge Walrus knew as well but yet, only asked for the asset list, when none was provided all she was say,"OK" I know you did your best..
There is quite a bit of assets and alot of transferred already....."
Picks... Oct 2008 entered at 0.06 $
"was able to get .068 this morning. Now we just wait and see what happens. 5billion coming our way, this will change everything for us."
Not done and not complete yet.LT is open and operating.When it is done, they have to dissolve LT.
Stop BS.LT is not gone any where,its still operating.
Monica,
I have engineering background, i dont speak hypothetically unless i see a proof.If you are good with finance and if you really worked at WMB and if you really have information from other former colleagues,i would believe what you say.Proof is your burden.
"CLAIMS AND EQUITY INTERESTS IN THE DEBTORS RECEIVE(D) LTIs","." - ITS A CONTRACTUAL OBLIGATION OF THE GSA,PLAN,TRUST AGREEMENT,IMO.
Liquidating Trust Interests
On March 19, 2012 (the “Effective Date”), the Debtors’ Seventh Amended Joint Plan of
Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, as modified by the
Modification of Seventh Amended Plan dated January 9, 2012, the Second Modification of Seventh
Amended Plan dated January 12, 2012, and the Third Modification of Seventh Amended Plan dated
February 16, 2012 (collectively, the “Plan”) became effective and, pursuant to the Plan, certain of the
Debtors’ assets were transferred to the WMI Liquidating Trust for the benefit of certain holders of
claims against, or equity interests in, the Debtors. Such claim and equity interest holders (the
“Liquidating Trust Beneficiaries”) are being issued beneficial interests in the WMI Liquidating Trust
(each such interest, a “Liquidating Trust Interest”) in exchange for their claims against, or equity
interests in, the Debtors. The Agreement provides that the Liquidating Trust Interests are not
transferable except by will, intestate succession or operation of law. Pursuant to the Agreement, the
Liquidating Trustee will be responsible for liquidating, converting to cash and distributing the
Liquidating Trust Assets to the Liquidating Trust Beneficiaries in accordance with the distribution
procedures and priorities set forth in the Agreement. These distribution procedures include a reserve
mechanism to allow for the resolution of claims that are disputed, in whole or in part, as of the Effective
Date and the issuance of Liquidating Trust Interests and Runoff Notes in respect thereof if and when
such claims are allowed.
Claims holders received cash around $930 mm and it was the responsibility of A&M to process the claims and settle the amounts.
Page 3/64
http://www.kccllc.net/documents/8817600/8817600120328000000000001.pdf
DONOT...
No knows exactly about $ value.There were lot of confidential agreements made among parties and it is unknown to public.
But imo, the bank was valued around $70 to $80 Billion by federal reserve.
PJ Solomon valued the assets and presented it to the court in a sealed document.
Mr.Nelson publicly commented about WMI assets worth more than $33 Billion which was never denied by the debtors.
REORGANIZED DEBTOR vs REORGANIZED WMI
1.
Title to Assets
Except as provided in Confirmation Order, on the Effective Date, title to all assets and properties encompassed by the Seventh Amended Plan shall vest in the Reorganized Debtors, Reorganized WMI, the Liquidating Trust, the JPMC Entities or the FDIC Receiver, as the case may be, free and clear of all Liens and in accordance with sections 363 and 1141 of the Bankruptcy Code, and the Confirmation Order shall be a judicial determination of discharge of the liabilities of the Debtors and the Debtors in Possession except as provided in the Seventh Amended Plan.
Page 195
https://www.sec.gov/Archives/edgar/data/933136/000090951812000087/jg02-2712_8ke22.htm
Who is reorganized debtors?
Reorganized Debtor Law and Legal Definition
Reorganized debtor refers to the entity that benefit from the confirmation of a Bankruptcy Code, Chapter 11 reorganization plan. The reorganized debtor is then bound by the confirmed reorganization plan, and must make any and all payments outlined in the plan.
According to chapter 11 bankruptcy code, a debtor may continue in business and hold onto assets while continuing to pay creditors. A reorganization plan is formulated and approved, and this plan governs how the debtor's creditors will be paid. The plan allows the debtor to reorganize debts without resorting to asset liquidation in order to resolve issues with creditors. Once a plan has been approved and confirmed, the debtor officially becomes a reorganized debtor.
LT COULD RESURRECT?.
Correct all class 18 subordinated claims were settled, Trust was anticipating other claims could come up as they were processing Class 18 subordinated claims.Now BK is closed due to Class 18 claims settled.
Creditors dont need to get full payment, they could be settled and satisfied.There was a reason they were put in subordinated claims,like DIME's.Dime's did something mischievous and were pushed to Class 18 instead of Class 12.
Remember, all those claims would effect how much equity classes receive,as per 10K of LT?.BK is closed, Trust is open but Mr.Smith would step in as Kosturos and operate the Trust as per the guidance of TAB.
All JMO.
DELAWARE TRUST COMPANY.
Trust beneficiaries can't get paid before creditors,as per law.
If beneficiaries get paid earlier than creditors, beneficiaries have a liability to creditors and taxes.
Delaware Trust Company holds all assets which were transferred on the Effective Date,JMO.
ok.whatelse?
tcs5 tks,yesh like that cencered boss you.
Does anyone know how much worth ABS were held by WMI?.
WHY DID LT CHOSE THIS Rule 12h-3(b)(1)(i) ??
BK is closed, WMILT wanted to "GO DARK" and dont want to report to SEC, because WMILT registered "Liquidating Trust Interest" as a security, as per Form 15 filed today.
"Title of Securities"
https://www.sec.gov/Archives/edgar/data/1545078/000119312520028189/d884336d1512g.htm
Beneficial interests held at DTC are not considered as "record Holders",so they wanted to go dark.So no more reporting obligations after 90 days,if i am correct.
WMILT requested to cancel everything except ABS held by WMI, thats the rule indicates.
FORM 15 - Rule 12h-3(b)(1)(i) -----> X
https://www.sec.gov/Archives/edgar/data/1545078/000119312520028189/d884336d1512g.htm
GOING DARK - Rule 12h-3(b)(1)(i) ----> X ASSET BACKED SECURITIES
https://www.sec.gov/Archives/edgar/data/1545078/000119312520028189/d884336d1512g.htm
12h-3 Suspension of duty to file reports under section 15(d).
(b) The classes of securities eligible for the suspension provided in paragraph (a) of this section are:
(1) Any class of securities, other than any class of asset-backed securities, held of record by:
(i) Fewer than 300 persons, or in the case of a bank; a savings and loan holding company, as such term is defined in section 10 of the Home Owners' Loan Act (12 U.S.C. 1461); or a bank holding company, as such term is defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 1,200 persons; or
S4V?
Interesting read on "GOING DARK"
https://www.dorsey.com/newsresources/publications/2009/03/going-dark--voluntary-delisting-and-deregistrati__
VAXART J&J "UNIVERSAL FLU PILL"
Vaxart Announces Initiation of Coronavirus Vaccine Program
January 31, 2020 at 8:00 AM EST
https://investors.vaxart.com/news-releases/news-release-details/vaxart-announces-initiation-coronavirus-vaccine-program
A potential alternative to the flu shot
A potential vaccine that could work for every type of flu
https://www.jnj.com/innovation/innovations-that-could-change-how-we-prevent-and-treat-the-flu
Universal Flu Vaccine - Collaboration with Janssen
Janssen to fund project
Janssen option to negotiate exclusive
worldwide license
Results Expected in 1H 2020
Page 17
https://investors.vaxart.com/static-files/76ded565-e448-4d98-910c-f1ae3629789c
Vaxart Enters into Research Collaboration with Janssen to Evaluate Oral Universal Influenza Vaccine
https://www.businesswire.com/news/home/20190709005100/en/Vaxart-Enters-Research-Collaboration-Janssen-Evaluate-Oral
Feel free to share it with other shareholders on other boards.
Tanj... this exactly fits to LEH.
Lehman plan trust was issued with one Big stock,while all equity got escrows.
DCR $20B + AS PER FEB MOR 2012.+ LTIs FOR EQUITY.
Balu..Divide those amounts with 0.138 and recollect if you had that many DIMEQs.
"an implied covenant of good faith and fair dealing."
Very interesting to me.
"Our opinion set forth in paragraph 2 above is subject to (i) the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii) general equitable principles (whether considered in a proceeding in equity or at law) and (iii) an implied covenant of good faith and fair dealing."
Too many related parties Computer share,STBL who provided services in NSM and WMIH merger.
STBL worked in the eqrly stages of BK in WMI ch11.
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=13859244&RcvdDate=1/23/2020&CoName=JPMORGAN%20CHASE%20%26%20CO&FormType=8-K&View=html
Side... i received a check for $13.86 in total.
I think i had around 100 DIMEQs.
WMI EQUITY INTERESTS EXCEPT WMI,WMMRC AND WMB
7. Assets of WMI’s Non-Debtor Subsidiaries, Other than WMMRC
Pursuant to applicable law, and as stated by the Bankruptcy Court at the March 21, 2011
hearing, the Bankruptcy Court’s jurisdiction is limited to assets of the Debtors and not to those of any
non-Debtor subsidiary. However, because the value of the Debtors’ interests in such non-Debtor
subsidiaries and non-Debtor assets, including WMMRC, ultimately accretes to the benefit of the Debtors’
chapter 11 estate, the Debtors have reflected such value in their liquidation and recovery analyses. To
provide parties in interest with additional information, set forth below is information related to WMI’s
direct and indirect subsidiaries as of the Petition Date, including WMMRC, as well as historical
information regarding any transfers of assets by WMI’s non-Debtor subsidiaries from and after the
Petition Date. 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.
its subsidiaries, except for WMI Investment, WMMRC and WMB, will be transferred to the Liquidating
Trust. F
LTI's AS PER DS
Disclosure Regarding Potential for Distributions of Liquidating Trust Interests
to Holders of Allowed Subordinated Claims (Class 18) and to Holders of
Preferred Equity Interests (Class 19), Dime Warrants (Class 21) and Common
Equity Interests (Class 22)
As discussed in more detail elsewhere herein, the Seventh Amended Plan provides that in
the event that all Allowed Claims (other than Allowed Subordinated Claims), and Postpetition Interest
Claims and Intercreditor Interest Claims in respect of such Allowed Claims, are paid in full, the
Liquidating Trust Interests will be redistributed, and holders of Allowed Subordinated Claims (Class 18)
will be entitled to receive their Pro Rata Share of such interests. As set forth in the Updated Liquidation
Analysis attached hereto as Exhibit C, the Debtors estimate that holders of Allowed PIERS Claims (Class
16) will receive a distribution of approximately $94 million pursuant to the Seventh Amended Plan. As
set forth in Section III.B.6.g hereof, the maximum possible recovery for holders of Allowed PIERS
Claims is approximately $250 million, such that the Debtors estimate that there will be a shortfall with
respect to recovery for holders of Allowed PIERS Claims in the amount of approximately $156 million.
In addition, the Debtors estimate that there will be remaining claims of approximately $40 million of
Remaining Postpetition Interest Claims with respect to the Floating Rate Senior Notes, as well as
approximately $11 million of Postpetition Interest Claims on account of Allowed General Unsecured
Claims. Accordingly, for Liquidating Trust Interests to be redistributed to holders of Allowed
Subordinated Claims pursuant to the Seventh Amended Plan, the amount of net Cash proceeds available
for distribution from the Liquidating Trust would have to be approximately $207 million greater than
currently estimated by the Debtors.
The Seventh Amended Plan further provides that, subject to granting the releases set forth
in the Non-Debtor Release Provision (Section 41.6 of the Seventh Amended Plan), in the event that all
Allowed Claims and Postpetition Interest Claims in respect of Allowed Claims are paid in full (including
with respect to Allowed Subordinated Claims), (i) each holder of a Preferred Equity Interest, including,
without limitation, each holder of a REIT Series, will be entitled to receive such holder’s Pro Rata Share
of seventy percent (70%) of, and (ii) holders of Dime Warrants in Class 21 and Common Equity Interests
in Class 22 will be entitled to receive such holders’ Pro Rata Shares of thirty percent (30%) of (to be
shared on a pari passu basis between these two Classes), among other things, any Liquidating Trust
Interests to be redistributed; provided, however, that, in the event that, at the Confirmation Hearing and in
the Confirmation Order, the Bankruptcy Court determines that a different percentage should apply, the
foregoing percentage will be adjusted in accordance with the determination of the Bankruptcy Court and
be binding upon each Equity Interest holder.
Thus, pursuant to the Seventh Amended Plan, all Allowed Subordinated Claims must be
satisfied in full prior to redistribution of Liquidating Trust Interests to holders of Equity Interests. The
ultimate amount in which Subordinated Claims in Class 18 will be allowed is unknown and any estimate
at the current time would be highly speculative. Claims that are or potentially will be classified in Class
18 include, among others, the following: Certain Claims filed by holders of WMB Notes. For example,
pursuant to the Motion of Debtors for an Order Pursuant to Section
Group, dated December 28, 2011 [D.I. 9279], the Debtors seek approval of a stipulation with certain
holders of Misrepresentation Claims related to WMB Notes pursuant to which the Debtors have agreed
that such holders will be deemed to hold Allowed Subordinated Claims in the amount of $15 million.
(See Section V.B.5.g hereof.) The hearing on said motion is scheduled for January 19, 2012.
Certain additional Claims either are or could be classified in Class 18, but are disputed on
the basis of, among other things, validity, amount, and/or appropriate classification. For example,
pursuant to that certain Stipulation Resolving Debtors’ Amended Thirty-Second Omnibus (Substantive)
Objection With Respect to Claim Nos. 3812 and 2689 [D.I. 6068], dated November 23, 2010, by and
among, among others, the Debtors and the Policeman’s Annuity and Benefit Fund of the City of Chicago
(defined in Section V.B.6.g below as “Chicago PABF”) and Doral Bank Puerto Rico (defined below as
“Doral Bank”), as lead plaintiffs, on behalf of a putative class, in the consolidated putative securities class
action entitled Boilermakers National Annuity Trust Fund v. WAMU Mortgage Pass Through Certificates
Series ARI, Case No. 09-0037 (MJP) (the “Boilermakers Plaintiffs”), the parties thereto agreed that
certain Claims filed by and on behalf of the Boilermakers Plaintiffs would be withdrawn, without
prejudice to the re-filing of such Claims in the event that a plan was filed that would provide recovery to
holders of Allowed Subordinated Claims. Certain Boilermaker Plaintiffs argue that they are now
permitted to refile their Claims because the Seventh Amended Plan provides for a conditional distribution
to holders of Allowed Subordinated Claims. In the Boilermaker Plaintiffs’ objection to this Disclosure
Statement [D.I. 9316], filed January 4, 2012, the Boilermaker Plaintiffs asserted that they are entitled to
re-file their Claims as General Unsecured Claims rather than as Subordinated Claims. In said objection,
the Boilermaker Plaintiffs argue that their proposed re-filed claim, if allowed, “will be in the hundreds of
millions of dollars.”
In addition, certain directors and officers filed indemnification Claims against the
Debtors that the Debtors have objected to, arguing that such Claims should be disallowed and, in the
alternative subordinated to Class 18. (See Debtors’ Sixtieth Omnibus Objection (Substantive) to Claims
(Claim Nos. 2108, 2240, 2241, 2246, 2247, 2248, 2604, 2606, 2631, 2633, 2634, 2635, 2636, 2637, and
3242) [D.I. 5970], dated November 17, 2010.) In the context of the Estimation Motion (defined and
discussed in Section V.B.5.h hereof), pursuant to which the Debtors have asserted that $0 should be
reserved for said director and officer indemnification Claims, certain director and officer claimants have
argued that at least $100 million must be reserved for such claims.
In addition, the Creditors’ Committee has filed a motion [D.I. 9301], in which the
Debtors have joined [D.I. 9302], requesting that the Bankruptcy Court alter or amend its December 20,
2011 opinion and order, discussed in Section V.B.6.k hereof, ruling that the Debtors have not stated a
basis for subordination of the Claim filed by Tranquility (defined below), which Claim was filed in the
amount of approximately $49.6 million.
In addition, pursuant to the Order Approving Stipulation Between Claimants Credit
Suisse Securities (USA) LLC, Goldman, Sachs & Co., and Morgan Stanley & Co., Inc., and the Debtors
Resolving the Twenty-Ninth Omnibus Substantive Objection to Claims Pursuant to Section 510(b) of the
Bankruptcy Code [D.I. 6687], dated February 4, 2011, the Bankruptcy Court approved a stipulation
pursuant to which the Debtors agreed that certain underwriters’ Claims are classified in Class 18 as
Subordinated Claims, but reserved the right to object to such Claims.
105(a) of the Bankruptcy Code and
Bankruptcy Rule 9019, Approving Stipulation and Agreement by and Among the Debtors and the G&E
LP, thats a reasonable figure imo.
As per Project West, they were planning to get the assets working with the "Regulators", not from WMI or its OWNERS.
WMI combined assets were north of $350 Billion in 2008.
"IN 2008 $350 Billion"
Now what?. + the fraud and litigation.
Even $100 Billion is very reasonable.
JMO.
LP,WMI EQUITY INTERESTS WERE NEVER TRANSFERRED TO WMI HOLDINGS Corp.
pursuant to POR 7.JMO.
DCR was contributed with plan contribution assets and LTIs.
AMR shareholders are still receiving amounts from DCR.
WMI DCR is much much more bigger and we will see.
Its very fair and reasonable to receive 1:1 JPM shares.We dont know whats is DCR,the ultimate reserve established for equity,IMO.