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exo, did you originally open your low interest Mortgage under Wamu and what year did you open it?
Thanks!
$80B is the minimum retained interest earnings sitting in remote bankruptcy by my calculation. How much of that actually makes it back to old equity vs how much is siphoned off by the big boys is the 15 year old question... IMO, there is zero doubt that retained earnings exist for old equity outside of the bk.
As a releasing party, in self interest, I wish the remote bk assets would only return to the 1.2B released shares and not the 1.8B total. However, in fairness, there's a good possibilty that it will return to all 1.8B shares as the remote bk assets were not disclosed during the signing of the release. Since they werent disclosed, the non releasing party could not have made a choice that they were not properly informed of.
I agree with the viewpoint that the releases were simply a vote for WMI to release JPM and FDIC. It has nothing to do with releasing right to undisclosed remote bk assets that bonged to old equity. You cannot release your right to what hasnt been disclosed.
Maybe...but I dont think th SOL applies here. If it does, the LT would have dragged this out until this year to close the bk. I dont think there's anything preventing the release of bk remote Aarts right now since the "bk" has ended. I dont knkw what the hold up is...hopefully its not the big boys trying to cheat the retail holders
Thanks nhtrader! So this is about the statute of limitation regarding the receivership suing the brokers that sold the loans to Wamu. This does not have anything to do with the remote bankruptcy trust that is holding legacy assets and interests?
What is this 15 year statute of limitation you guys are referring to? Is it related to bankruptcy laws or with the remote bankruptcy trust? And if the statute does exist for the remote bk trust then does that mean the statute also applies to original investors? Does it mean it doesnt need to pay back old equity investors after the 15 years run out?
Thanks to anyone who can honestly shed light on this. While I am still holding out hope for payout by the end of the year, its getting very difficult to maintain faith. No words from the big boys and the FDIC refusing to close R...
How many lawsuits left before FDIC closes the receivership? Has anyone been following?
LG, will you tell us what filing you are expecting if nothing happens by the 4th business day? Thanks again!
Thanks LG! Hopefully you wont need to disclose it in 4 days. I hope we can have some good news going into the weekend
LG could you share with us what is the event that you were expecting to happen by this Friday? If not now, on Friday?
Who's looking over the trustee shoulders to make sure compliance for said instructions?
Ron, that does not mean the FDIC cannot sue and go after the retained earnings to pay off the bank bonds. Maybe that's why we are seeing all this delay. FDIC is trying to stall closing out the receivership as long as possible so that if the remote bk assets appears after the bk closes, it can go after them...and the remote bk assets trustee is also using that as an excuse to release the funds back to the original estate owners.
Thanks LG. Could you at least confirm whether this public information is related to the DST or some public company disclosure? TIA
LG, would you be able to share the potential source if we do not see anything by COB on the 16th? TIA
Thank you FredMiller for organizing this. I support this move 100%
I think we should aim for Aug 4th meeting.
FredMiller, I agree with you 100%! The assets are there in remote bk. If retail is not seeing it, its because they've found a way around retail. I'm up for a meeting in Vegas with all interested retailers here.
Any update from AG source on Boardpost regarding our bk remote assets/payments? This whole banking fiasco is making me nervous. Maybe they'll use the next disaster to sweep our bk remote assets under the rug.
It looks like these aholes will drag the receivership out another 10 years
Does anyone know how many Libor lawsuits left to be resolved for our Wamu receivership to close? Anyone email FDIC lately to see how many lawsuits left?
Newflow, I am sorry to hear of your condition. Personally, my life was in a big upswing prior to 2008. I was in my early 30's...career was amazing, had a thriving online business, was able to help out many of my family and friends...but ever since I've invested in the Wamu fiasco, as I was a Wamu business client and a believer in the whole unjust takedown story, my life has been a winter. I still have a great career but it seems my financial luck has gone into hybernation.
I'l believe everyone's luck goes in cycles and many invested here had probably faced a similar financial downturn since 2008.
That's why I have a glimmer of hope that this whole fiasco is about to end. Good luck to you sir.
Az is the only one paid so far?
Good morning Az. You once stated that you are here because you wanted to help people out. Can you please do so now and tell us if we need to do anything additional beside our original releases to start receiving payment?
Also, for the rest of us who just owned the shares through our brokerages, could you kindly ask Doreen when we should expect to see the first payment?
Thank you sir
Thank you sir! This means we should see the cash within 3 business days in our brokerage?
Hi Az, do you think this is related to old Wamu equity? preferred or commons? Is the amount very large or negligible?
I agree, the most realistic source of real assets has to be the loan portfolio interests that were separated from the bankruptcy and sitting in BK remote trusts.
The most likely scenario of us getting any significant pay is with our own assets that were protected through separation via BK remote.
I dont expect anything returning from any sort of lawsuit being dragged out by FDIC. If FDIC were really interested in fairness, they wouldnt have robbed WMB and gifted it to JPM.
LG, I agree. If the BK remote assets are tied to FDIC actions then we are a long way off from getting paid. FDIC will likely drag out the receivership for a few more years.
The BK remote assets, as the name suggests, should only be tied to the bankruptcy actions. Hence as LT has now been closed for a year, we either get paid in the next few months or never...Hopefully by tax day 2023
This is why I'm hoping the remote bk assets are totally isolated from the FDIC receivership...otherwise we will have to wait another 14 years for this to end.
I'm hoping the rote bk assets are free to return within a year LT close out. So if we dont hear anything by end of March 2023, I think we have been screwed...the big boys found a way around retail.
I dont think the remote bk assets are tied to the FDIC closing the receivership...if they are, we are screwed. I think FDIC is going to drag this out another few years. I'm going to wait until tax day 2023 for us to see something...Of we dont see anything by then, we probably wont see anything for another 20 years
Ok, so there were only a total of 47000 shareholders at the time of seizing? In that case, it could be that our remote bk assets are just another participant in the publicaly traded fund. So we own a percentage of the $150B
There is also another possibility. The remote bk assets are just another shareholder in a publicly traded fund.
Thanks but I think we need to find out how many shareholders there were...see if it is close to 81396...also how many shareholders that didnt sign
I would take the measly $150B! I thought the remote assets would not be allowed to reinvest in anything other than treasuries?
If the fund was allowed to invest the interest residuals back into stocks over the last 14 years!!! I am totally salivating...if it was allowed to invest in stocks...it is very plausible we may be looking at $150B!!
The fund seems to hold a bunch of stocks. Would remote bk assets be allowed to invest in stocks? I thought it could only invest in low risk treasuries.
Do you know how many escrow owners signed and released?
Does anyone here know if CBA09 is still alive?
If I knew, I would share it with the board...as I have already disclosed, I am a retail investor and is not associated with any of the involved parties.
This logic is very simple...even a layman can understand this...you dont need to be a $1000/hr lawyer.
If there really is nothing more in remote bankruptcy, there is no reason for the Debtors to deny full disclosure...no need for Hochberg to say "the assets will carry through your Honor".
I'm 100% positive there are remote bk assets...only 50% sure that retail will see it. I will admit there is a chance the big boys have found a way around retail.
Merry Christmas everyone! LG, thanks for your thoughts on the DST and your continual optimism...As the year winds down, I have very little hope that we will hear anything this year but I'm keeping my hopes alive until end of March.