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You’re are welcome. It’s only right to congratulate you on a 890% Return. That is Phenomenal!
Also, I hope is well with Mom and the Family.
Congratulations! Great Timing.
Pick, I agree with you 100%.
I was just thinking since the trust were created 18 yeas ago in 2006. Maybe we have to wait another 2 years for a 20 year Maturity. JAWAG. Crazy but plausible. You have to think out of the box. The established Trust Preferred and assets transferred 2 years before the planned restructuring bankruptcy safeguarded the assets from being confiscated, the agreements rescinded and the assets made part of the bankruptcy.
Whatever it is. We’re here for it! That’s what matters. Albeit, Coop and or Trust Beneficiaries.
Exciting Times to say the least.
I believe this to be very positive news. Not to mention, the timing a day before the conference call and a month before the shareholders meeting. Makes me wonder, what else is to come, what are they getting ready for and what are they piecing together? I’ll use one of your famous lines, HMMMMMMMMMMMMMMM!
2 New Executives!,
Good morning Board, The Infamous Kevin Barker from Piper Sandler always first in line to ask questions during Company conference calls and Ranjit from Wells Fargo! https://ih.advfn.com/p.php?pid=nmona&article=93699409
Two Major Shareholders and one of them holds Trust accounts of the Estate. Wow! This is Huge!
Good afternoon Justice, that’s great news and if memory serve me right, the same thing happened in January a couple of weeks before the conference call. By chance do you know what’s the expiration and strike price of the contracts that were purchased? Thank in advance.
Disclaimer: For board topic purposes.
I wanted to mentioned that COOP conference call on a Friday may not be a bad news after all. Going back to February 11, 2022, also a Friday the news was phenomenal and the following week the stock price rocketed.
Side bar:
That’s very admirable of you. There’s a lot of children who are lazy and/or selfish to put in that time and commitment. I’m not a medical advisor but I read that B1 and a high organic plant base diet helps. B1 deficiency is the cause of a lot of ailments and Alzheimers is one of them. Look into it. It may help you and others you know.. Not a lot of businesses carry it. It’s best to get it from Whole Foods or online on Amazon for about $10. I buy the 365 Brand( Whole Food,) and Now brand because they have less fillers. Another word for it is Thiamin. The most important vitamin in your body. I hope this information is helpful and well received.
There is always a Pullback after a 3 day rise with a Higher High. It may be creating a handle to the cup before another run up. Also, Typical behavior right before earnings. Possibly trade sideways until next week.
You’re welcome Az, and Thank you too for the kind words and acknowledgment.
Happy New Year to you too and your family, Newflow. I tried messaging you directly but you have me or the option to message you directly on block.
That’s the same Sheeit Jamie said and played us back when Bitcoin was trading at .39 July of 2009. Same words. I fell for it once and I won’t fall for his Sheeit again.
DarkB4Dawn, thank you for clarifying. I appreciate the conformation.
Newflow, to my understanding the charity donations is the unclaimed shares. Apparently they can’t split those shares among the rest of the shareholders like some of us assumed. They are going to donate the money from those shares to charity. That’s my interpretation of the wording in one of the filings. I believe it was the disclosure statement. Correct me if I’m wrong. I think I’m not but I’m still human.
Ron, thank you for posting this recent development, but most importantly thank you for all of what you do! I really appreciate you.
You are right and not wrong with your understanding and I see were you’re at with it, but in my opinion, it’s those GSA Agreements between WMI, JP Morgan and the FDIC that are not explained in details. You’re in Amended Plan 7, not Approved Plan 6. It’s Approved Plan 6 where the confusion is at. (My Opinion) This is a bigger scheme than we can imagine and are lucky to be part of it. Yes, us shareholders are still part of any assets/value coming back to the Estate. You/We are Beneficiary holders of the Canceled shares of the Estate. WMB is not part of the Preferred Funding LLC. I learned the dance it’s called the Texas Two Step. Note: Where is our a Headquarter? Texas baby! As the saying goes, “everything is Big in Texas.” Yeehaw! Lol
I’ll continue the dialogue. My opinion, this is a manner of obscurity, a way for them to say, it’s there and it’s fully administered but not all the factors have to be presented to close the case. Just my opinion.
Bankruptcy Rule 3022, Advisory Committee Notes (1991). In re SLI, Inc., et al., 2005 WL 1668396, 44 Bank. Ct. Dec 281 (D. Del 2005). See also, In re Ginko Associates, L.P., 2009 WL 2916917 (E.D. Pa. 2009). But, these factors are but a guide in determining whether a case has been fully administered, and not all factors need to be present before a case is closed. In re Valence Technology, Inc., 2014 WL 5320632, 60 Bank Ct. Dec. 49 (W.D. Tex. 2014). See, e.g., In re Union Home & Indus., Inc., 375 B.R. 912, 917 (10th Cir. BAP 2007) (a party need not demonstrate all factors before a case is closed); In re Provident Fin. Inc., 2010 WL 6259973, at *9 (9th Cir. BAP 2010), aff’d, 2012 WL 172887 (9th Cir. Jan. 17, 2012) (bankruptcy courts have flexibility in determining whether a case is fully administered). A court should review each request on a case-by-case basis. In re Ginko Assoc., L.P., WL 2916917, at *2 (E.D. Pa. 2009).
50. In reviewing the Debtors’ chapter 11 cases, it is patently apparent that these cases have been “fully administered” and that they should be closed. As noted above, since the Petition Date, the Debtors and WMILT have taken all necessary steps to gather the Debtors’ assets, reconcile claims and make distributions in accordance with the terms and provisions of the Plan. Generally speaking, such actions have included, among many others, (a) engaging in significant litigation with the FDIC, the FDIC Receiver and JPMC in an effort to determine the
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property of the Debtors’ chapter 11 estates, (b) compromising and settling such issues pursuant to the GSA, (c) participating in Bankruptcy Court-ordered mediation to resolve outstanding claims asserted by the Equity Committee, (d) confirming and consummating the Plan, (e) gathering and/or liquidating the Debtors’ assets, and (f) reconciling all remaining Claims, including litigating and resolving employee-related Claims subject to “golden parachute regulations.”
51. Applying the non-exhaustive six Advisory Committee factors, it is expressly clear that these cases have been fully administered: (a) the Confirmation Order is final; (b) all deposits, to the extent required by the Plan, have been distributed; (c) all property was transferred to the Trust on the Effective Date; (d) the Trust assumed responsibility for the reconciliation of claims and distribution of assets in the liquidating chapter 11 cases; (e) payments commenced being made pursuant to the Plan; and (f) all motions, contested matters and adversary proceedings, other than the Griffin Appeal, have been finally resolved. But, as noted above, the Adversary Committee’s “six factors” are non-exhaustive and not every factor must be satisfied in order to close a case. Indeed, most notably, courts have held that the existence of a pending matter is an insufficient reason to deny closure of a chapter 11 case as it does not necessarily mean that a case has not been “fully administered”. See In re Union Home and Indus., 375 B.R. 912, 918 (10thh Cir. BAP 2007).
Thank you, I appreciate the dialogue.
Fortunately for me I have the uncommon sense of having common sense and dissect the wording in the filings and agreements. I must admit it has taking a lot of my time rereading the same wordings numerous times and looking up definitions to get a better understanding in trying to decipher the Plan.(Approved Plan 6 and Amended Plan 7, “The Plan.”)
I get your point and have gotten your point ever since you posted it and wondered if nothing was coming back to Preferred Ps, then why go through the trouble to make those changes.
Bbanbob, I immediately thought about your past post. Thanks for providing the right interest rate number changes.
Good morning Lodas, let me share this since you’ve been posting about impaired classes in Plan 6 and Amended Plan 7.
What Is an Impaired Creditor?
In your Chapter 11 plan of reorganization, you must label each of your creditors as “impaired” or “unimpaired.” A creditor’s claim is impaired if you change the original debt terms in a negative way, such as reducing the interest rate or lengthening the pay-out period.
As it has been posted on the board the Preferred changed their interest rates from 72.5% to a lower amount and the amendments to the liquidation trust agreements changed the timeframe and waterfall order.
This is a Test!
You’re welcome J, stay safe and stay healthy.
You’re welcome and thank you for the confirmation.
Roger that AZ, stay safe and stay healthy and I seriously mean that.
Jhdf51, I’m not worried about it because the volume is still relatively low. If you can recall a couple weeks ago it went back up north of $55 with just 70-90 thousand share traded by mid morning and 300k-400k shares traded for the day. I wouldn’t sweat it nor let it frustrate you. Not to mention, it’s just Options Players/Manipulators at Play.
Also, If you recall a earlier conversation this year around April that the 2003-2023 Pass Through Securities Certificate Matured. Hence, the MBS coming to Market. Well those MBS Securities have to be Replaced with new pools at or around the same Interest Rates and the average loan interest was around 6.94%. Where are the Interest Rates today? Nothing is by chance or coincidences, this is all Strategically Planned. IMO.
Also, if you research the WAMU 2003-2023 PASS THROUGH SECURITIES, you no longer can find any public filing regarding the $61 BILLION in Assets. Then with the WAMU ASSETS ACCEPTANCE CORP. $26 Billion in ASSETS
are really close to Dr. A’s $86 Billion Dollar number assessment.
“Assets of the assets are not part of the Agreements.” My understanding of that is the money from the assets are not part of the bankruptcy.
Newflow, as I was researching I came across some information about bankruptcy timelines and doing the math 3/19/2012, plus 9 years 9 month equals 2022. The Bankruptcy History Expired. The Trustees can now continue forward without the bankruptcy history hindering them. Hence, Woodland Advisors and Paladin. I believe there’s more to come from this. IMO!
Newflow, Boarddork might be on to something.
Looking at the dates of the WMI entities and with the 2 year minimum. This maybe a version of the Texas Two Step but in Delaware. Lol
Option Contracts Expire today.
Thank you for your response. I guess I have to take the additional losses.
Bbanbob, do you who to contact?
I tried Justin
Brian
Charles
Mr Cooper thus far.
Thank you so very much!
Newflow, can you share Chris’s Seattle/ WMILT contact number and information please? Thank you.
can You do the math formula for me please? I’m coming up with a different number of shares that was actually distributed and before I take the steps to rectify I need my math formula checked. Thank you and I appreciate any and all help given.
Good morning Board, I know this is old but I’m trying to calculate and check my math.
EXAMPLE:
If a shareholder had 50,000 old WAMUQ shares
1000 WAMPQ shares and 1000 WAMKQ. how many WMIH shares would they receive upon the effective date?
My math is not matching the share number received.
I theorized that yesterday when I read that they are going to be looking for a a Partner to Merge with.