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Did You Receive Cash at $.01
for each ESC Marker owned?
A penny for a UQ and a penny for a PQ?
Did new money come into your account from the transaction?
Was the $.01 phantom money?
RE/DCR(DOF) is not Plan 7 LT responsibly.
Plan 7 LT responsibilities was only to Creditors.
The goodies where placed in Plan 6 Liquidation Trust for AAOC, then to Class 22 in Plan 7 as Class 22 took control of the Estate and WMI’s assets.
$20.7708 billion plus interest accumulated to about 2.5X for Class19.
Yes, the remaining 75/25% .
More for Ps from there Funding sub.
WMB?
Non-debtor subs?
ABS Trusts?
Other?
Ron
Our assets are in Plan 6 Liquidating Trust.
Plan 7 was only to close Creditors claims. And it did.
Hint:
363 Sales in Plan 6.
$20.77 billion plus interest
$25 B now.
Yes the ESCROW Markers are gone by Plan 7 LT.
DTCC still has records of holdings.
Plan 7 LT is closing. Plan 6 assets are coming. Plan 7 only addressed Creditors not us.
WMB still has not been paid for yet.
Non-debtor subs still not accounted for yet.
RE/DCR $20.77 billion plus interest are from Plan 6 as 363 Sales.
Yes we are moving forward.
JPM has/had $500 billion in cash. Receivership is closing.
HLCE,
Ron
Remember Washington State Lost and Found?
The payment for WMB is to be retrieved back from Washington State Lost and Found!
"‘ministerial’ acts"
Ron
As Always;
WILLIAM KOSTUROS, chief executive officer
Description
Addition of officer WILLIAM KOSTUROS, chief executive officer
Event Occurred
Between 2020-12-28 and 2021-05-20
Hint;
JPM brags about having $500 Billion in cash on hand on June 14th.
Ron
As AZ Has Always Said;
Understand Plan 6 and participate in Plan 7.
Understand Plan 6 Liquidating Trust.
I have listed the associated assets and revenue sources related to Plan 6 LT.
The Plan 7 LT isn't about Class 19 and Class 22, but Plan 6 is!
Ron
Paladin is Very Relevant.
It's all about the case of characters.
lodas, you still here?
nice dribble. not sure what is meant. Not interested.
++ESC++
Accounting and Math. P6-LT.
The Debtors Assets.
RE/DCR(DOF). $220.7708B plus interest. ~$26B.
Retained Assets, RMBS, WMIIC.
WMB, 510(b).
WMI non-debtor Subs.
more.
2007 WMI/WMB 10-K. More than solvent.
JPM 2008 10-K. WMB at 7.8 Tier 1 rating. JPM at 3.5 Tier 1 rating.
41.6 "Willful Misconduct". lodas, what does "Willful Misconduct" mean?
Beats jail time.
Hint; 41.6.
JPM bragged JPM had $500 Billion in cash on June 14th.
LOVE IT!! The numbers work for starters.
August 2nd, FDIC demands Indemnifications.
Hint; Globic is done because LIBOR is done.
FIC Chairman is resignation effective February 4th.
Now FDIC WMB Receivership is DONE.
She is going out on a positive note.
FDIC Chairman Jelena McWilliams Announces Resignation
Before you were to announce your resignation, wouldn't you make sure the largest FDIC receivership in history was ready to be closed before you left that office?
Hint; EOY.
Date of announcement; December 31, 2021.
The Entire Menu Structure is Gone.
The WMI-LT use to have a lefthand sidebar or a Drop-down menu for other documents.
All gone now!
DONE.
Newflow, Interesting Statement.
"An UPREIT exists as another exit strategy. An UPREIT or 721 exchange are both terms used to describe a 1031 exchange into a REIT. When this happens, an investor's interest in the DST is converted into REIT shares, which is when the 721 exchange occurs. The REIT already controls the DST. After some time, the REIT will purchase shares owned by the DST. The DST may then dissolve."
The Liquidating Trust was Created in Plan 6.
From PDF 180/291;
"20 The liquidating trust provision should be revised because
21 currently, the liquidating trust calls for Mr. Kosturos and
22 Weil to remain in charge and the creditors' committee to play
23 an active role despite the fact that the only entity or class
24 not receiving full recovery is PIERS and they have the upside
25 of the reorganized WMI."
December 7, 2010.
http://www.sidedraught.com/stocks/WashingtonMutual/Transcripts/2010%20November%2029-December%2007/2010.12.07-Hearing%20Transcript.pdf
Also see #99, #117, #105, #176.
Ron
It's Official. The Plan 7 LT is Closed.
The Plan 7 WMI-LT was only designed to pay the last of the Creditor's claims and the WMI-LT did just that.
Plan 6 Liquidating Trust
Retained Earnings
RE/DCR(DOF) of ~$25B
Retained Assets
WMB
WMI non-debtor subs
?Did WMIH-C go Private?
Picky; Thanks for Asking.
The WMI/WMB Assets Were Buried in a Plan 6 Trust.
Impaired Class 16 [AAOC] wasn't required to tell the Court how Class 16 protected [hid] Estate Assets in a Trust created by AAOC because as I said Class 16 [AAOC] was the impaired Class.
As the last impaired class, Class 16 [AAOC] was not required to satisfy any other Classes claims according to BK law.
Class 22 Assets.
BK 510(b). (Overfunded claims)
Retained Assets, "Affiliates of the Debtor".
Footnote 39.
WMII
WMB
FDIC statement of "$299 Billion for WMB and its Assets".
41.6 for "Willful Misconduct".
WMIH-C
Class 19
2.5X Plus from the February 2012 MOR as I have stated before.
Ron
Plan 7 Verses Plan 6 Liquidating Trust.
The well documented 'top of table' Plan 7 LT [WMI-LT] was created to show the Court how the Equity Committee of Class 22 can satisfy all claims against the Estate. Both the Creditors [class 16] and the other classes in front of Class 22.
Therefore; Plan 7 Liquidating Trust controlled by Class 22 needed Court approval of a detailed settling of all other classes.
The Plan 6 Liquidating Trust was NOT created by the Equity Committee. Plan 6 was the creation of the impaired Class 16 [AAOC] only for Class 16 benefit.
Because Class 16 was impaired, Class 16 didn't need to show how Class 16 would satisfy any other classes.
Therefore; no Court established Liquidating Trust was required for the 'below the table' trust created by AAOC.
Then,
The Equity Committee of Class 22 [Yes, Class 22 was in control of the Estate. Do you have UQ ESC in your account?] was given control by the Court on December 7,2010. See Transcript and posted document regarding the same.
* With the establishment of Plan 7 LT, the Equity Committee of Class 22 proved to the Court all Creditors will be satisfied in full.
* The February 2012 MOR proved to the Court how Class 22 will compensate Class 19 by a factor of 2X their claim.
Ron
Excellent Find ND9.
August 2, 2021.
FDIC demand for Indemnification related to Globic.
IMO, the Receivership is closing.
Resignation, February 4, 2022.
Wouldn't you want the FDIC's largest receivership closed by you before your resignation?
Ron
Spansion: Improper Settlement Motivation.
“It appears from the record made that the Debtors’ motivation
for entering into the Settlement Agreement was based less on
an evaluation of the merits of the Actions, than due to a desire
to negotiate a quick settlement.”
Spansion: Incredible Failure To Rely On Counsel
“Incredibly, [Restructuring Consultant] Brincko testified that
in reviewing the Settlement Agreement and making his
proposal to the Board of Directors, he did not rely upon advice
received from counsel.”
PDF 42/78
Hearing Testimony Of Goulding, 12/03/10
More fun
Plan 6, Still Not Right.
PDF 69;
"Q. Do you see an exception in section C for equity holders who
do not receive a release?
A. I don't and perhaps this some language that needs to be
clarified in this regard.
Q. So this would be a release that equity holders are granting to
JPMC, wouldn't it?
A. In its current form it would appear to do so. Unfortunately
its current form it would appear to."
Then came 41.6 [Willful Misconduct]" in the Plan 7 (GSA).
No thing to do with Plan 7 LT. Plan 7 WMI-LT is/was only to pay creditors.
Think Plan 6 LT.
Ron
"TPG is scheduled to price its deal on Jan. 12 and trade the next day,..
PDF 21/78;
http://sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/POR/WaMu_Closing_Equity_Committe.pdf
"Q. You gave Blackstone the assumption that reorganized WMI would not
take on new business, correct?
A. We gave Blackstone a set of financial projections which projected the
only operating asset of reorganized WMI, which is Wimrick, which is a
captive reinsurance company in run-off. We gave them a projection that
was based solely on the captive reinsurance company Wimrick
continuing to run off its business through the run-off period."
There is more.
"Q. Those assumptions and projections did not consider whether WMRIC
would take on new business correct?
A. We did not project new business."
COOP.
PDFs 19-20 are still my favorites.
Plus see PDF 76-77.
EC wins!
Ron
Again, Again, That's Not the LT You're Looking For.
See the Reply to posts.
at COOP's current PPS;
P's recovery is; 19.8/12*$42.36 = $69.89
Preferred recovery isn't coming from COOP.
How high does COOP PPS have to go before Preferred are made whole?
Preferred recovery is from RE/DCR(DOF) of $20.77B plus interest.
Now; FAQ #6 NOL's.
I have already commented on the topic.
Ron
Having Fun Yet?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166250109
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166538098
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166270996
Need more?
P6-LT 510(b)[WMB], RE/DCR(DOF), Retained Assets, WMI Subs.
P7-LT was only for Creditors. Done!
LIBOR, Done.
JPM, %500B
FDIC, Indemnifications.
WMB Notes, Asset Managed.
Ron
Is This the Same List of Banks that the FDIC Sued?
for currency manipulation and the LIBOR Rates which caused banks like WMB to fail?
Settling LIBOR settled Globic settles the Receivership.
Incorporation Date 7 July 2021 (6 months ago).
Company Type; Foreign For-Profit Corporation
Jurisdiction; Texas (US)
Branch; Branch of Delaware (US) company
Shortly after JPM's $500 Billion in cash, and before the FDIC's Demand for indemnifications.
Resent Events.
LIBOR litigation completed about a year ago.
That allowed the FDIC to generate final valuations and obligations to WMB and others.
The Final Price Tag to JPM for WMB.
June 14; JPM has $500 Billion cash on hand.
JPMC only needs $108B to meet their TEIR 1 rating, and JD isn't talking about TEIR 1 ratings.
$500 Billion unobstructed
August 2; FDIC demands for Indemnifications related to Globic/DB which settled LIBOR and Derivates repayment to insured ABS CERTs.
The California Globic case was the "means and method" for their and other related settlements for the FDIC and other agencies.
Now the WMB Notes are no longer the reasonability of JPM or the FDIC.
The WMB Notes are now under Asset Management by a major New York Bank as of October 31st.
The all KCC WMI links including the BK Docket are gone in November.
IMO;
JPM has paid the FDIC before for WMB and other outstanding responsibilities, then FDIC demanded Indemnifications related to Globic/DB after repayments where made.
Now that the WMB Notes are no longer in Receivership, the WMB Receivership is closing.
Next Steps;
The FDIC is now paying the interest owed to WMI, not JPM once JPM paid the FDIC around June.
Plan 6 510(b) to Class 22.
41.6 to be closed with final Payment and FDIC is also released.
GSA is to be completed with payment to WMI.
Plan 6 RE/DCR(DOF) of $20.77B plus interest 75/25%
Plus; NOL Carryforward.
Retained Assets; "affiliates of the debtor".
ABS/RMBS.
Non-debtor Subs.
:)
LIBOR is Complete.
Please show me open LIBOR litigation.
"FDIC Seeks to Recover WAMU’s Losses..."
Many Residential Mortgage rates were LIBOR based. WAMU's losses have been recovered. Please remember that the FDIC sued many Big Bank for LIBOR/Currency Manipulation that created WAMU losses according to the FDIC.
FDIC Sending Demands for Indemnification.
Note the date, early mid third quarter. The FDIC is saying that Globic is now completed. Globic is the settlement of the Derivative Insurance put-back to cover the RMBS losses.
Note that Derivatives are never mentioned, or how much DB and JPM had to cover from Derivative contracts. "alleged"
WMB securitized Mortgages Trusts into Bonds as RMBS and as bonds they were insured by the likes of JPM from Derivative contracts.
The 'bad loans' were no longer on WAMU's books, but sold into the market.
Good job, ND9.
********************
FDIC Seeks to Recover WAMU’s Losses for Residential Mortgage Settlement
August 2, 2021
As Receiver for failed bank Washington Mutual (WAMU), the FDIC has been recently sending demands for indemnification of losses to residential mortgage companies. The losses for which the FDIC is seeking indemnification stem from a June 30, 2017, settlement between WAMU, Deutsche Bank National Trust Co. (Deutsche Bank), and JPMorgan Chase Bank, N.A., (JPMorgan) under which WAMU paid JPMorgan $645 million and gave Deutsche Bank an unsecured receivership claim of $3 billion. The FDIC struck this deal with Deutsche Bank and JPMorgan to settle claims for up to $10 billion in damages arising from WAMU’s alleged breach of representations and warranties made in connection with mortgages sold to securitized trusts.
https://www.jdsupra.com/legalnews/fdic-seeks-to-recover-wamu-s-losses-for-9648976/
********************
Is the WaMu/WMB now closing?
The WMB Notes are no longer JPM or the FDIC's responsibility and under "Asset Management" by a large NY Bank.
lodas, Up Late for an 85-Year-Old.
Please tell us about 41.6?
The Plan 6 Liquidating Trust?
363 Sales.
Retained Assets.
RE/DCR(DOF) of $20.77?
Your response?
Please release your ESC to prove your belief,
lodas, Please see My Point Three.
WMB notes under Asset Management.
Hint; GSA has been satisfied with FDIC payment for WMB to Me and my friends of WMI recognized by my point 4.
lodas, Act On What You Believe.
If the ESC has no value as you have stated?
Then have the ESC removed from your accounts.
Act On That You Believe.
Chicken.
Then Tell Us About the FDIC's Valuation?
You lose.
FDIC; WMB and its assets of $299 Billion.
41.6 for WMB.
363 Sales -> RE/DCR(DOF) of $20.77 Billion.
and my four recent events posted.
I win!
lodas, Because You Believe ESC are Zero.
Please ask your Broker to remove all of your WMI ESC holdings from your accounts.
Act on what you believe!
lodas, Please Tell Us About:
"Willful Misconduct" as described in 41.6? Equities "good faith" Release to JPM with the implantation of the Plan?
"Willful Misconduct" -> Civil RICO, not criminal RICO and is resolved at a primum above the sales price valuation for reconciliation of the claim against the FDIC seizure.
More fun;
WMI sued the FDIC for $307 Billion. The "TPS Exchange Event" and the "Turnover Litigation" came back to the Estate.
The FDIC's response;
$299 Billion for "WMB and its assets".
Not my numbers. Their numbers.
I WIN this and I HAVE MORE.
Just go play your options.
WMI Equity HLCE,
Ron
We Win.
1. June 14; JPM has $500 Billion cash on hand.
JPMC only needs $108B to meet their TEIR 1 rating, and JD isn't talking about TEIR 1 ratings.
2. August 2; FDIC demands for Indemnifications related to Globic/DB which settled LIBOR and Derivates repayment to insured ABS CERTs.
The California Globic case was the "means and method" for their and other related settlements for the FDIC and other agencies.
3. Now the WMB Notes are no longer the reasonability of JPM or the FDIC as of October 31st.
The WMB Notes are now under Asset Management by a major New York Bank.
4. The KCC WMI BK Docket and all other WMI KCC links are gone.
Comments?
:) Plan 6 Liquidating Trust.
Not the Plan 7 Liquidation Trust that was created only for the creditors.
Both the Plan 6 and Plan 7 Trusts were created by the BK Court.
Exhibit H; 510(b) changed.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166650252
The Fact That We Don't Pay is the Proof!
The Fact That We Don't Pay to Maintain our ESC tracking markers is the proof of future payments.
The original entity that created the ESC tracking markers, the BK Court backs the fact of future payments which is why we don't pay the waved maintains fees to maintain the ESC tracking markers, otherwise we would be paying the maintains fees.
363 Sales -> RE/DCR(DOF) 75/25%
GSA -> JPM-41.6 release is executed with payment.
FDIC is released with payment for WMB.
Footnote 39;
"Retained Assets" -> SH/ABS; "Affiliates of the Debtor".
HLCE,
Ron
After Hours Time (ET) 19:13:11??
After Hours Time (ET) 19:13:11 $40.2 435,855
How late into AH is this?
Why?
Look at the order of trades bottom up;
Executed
Cancelled
Executed
two more
Cancelled
Executed
Cancelled
and Executed.
19:13:11 $40.2 435,855
19:11:00 $40.2 435,855 - Cancelled Trade
19:01:50 $40.2 435,855
18:59:04 $40.2 435,855 - Cancelled Trade
18:19:01 $40.2 1,552
18:17:41 $40.2 5,779
18:03:45 $40.2 139,434
18:03:02 $40.2 139,434 - Cancelled Trade
17:45:04 $40.2 139,434
From
https://ih.advfn.com/stock-market/NASDAQ/mr-cooper-COOP/stock-price
Dollar Volume; $ 332,391,500.
VWAP $ 40.39 X Volume 8,228,841
Appending to My "Reply to" Message;
4. The KCC WMI BK Docket is gone.
Reason; ? GSA is completed with the final payment to WMI for WMB from the FDIC?
Plan 6, 510(b) to UQ.
And:
Plan 6; RE/DCR(DOF) of $20.77 plus interest 75/25% is ? :)
Dollar Volume; $ 332,391,500.
VWAP $ 40.39 X Volume 8,228,841
https://ih.advfn.com/stock-market/NASDAQ/mr-cooper-COOP/stock-price
Appending to My "Reply to" Message;
4. The KCC WMI BK Docket is gone.
Reason; ? GSA is completed with the final payment to WMI for WMB from the FDIC?
Plan 6, 510(b) to UQ.
And:
Plan 6; RE/DCR(DOF) of $20.77 plus interest 75/25% is ? :)
Three Major Events Have Transpired.
1. June 14; JPM has $500 Billion cash on hand.
JPMC only needs $108B to meet their TEIR 1 rating, and JD isn't talking about TEIR 1 ratings.
2. August 2; FDIC demands for Indemnifications related to Globic/DB which settled LIBOR and Derivates repayment to insured ABS CERTs.
The California Globic case was the "means and method" for their and other related settlements for the FDIC and other agencies.
3. Now the WMB Notes are no longer the reasonability of JPM or the FDIC.
The WMB Notes are now under Asset Management by a major New York Bank.
IMO;
JPM has paid the FDIC before Event 2 for WMB and other outstanding responsibilities, then FDIC demanded Indemnifications related to Globic/DB after repayments where made.
Now that the WMB Notes are no longer in Receivership, the WMB Receivership is closing.
Next Steps;
Plan 6 510(b) to Class 22.
41.6 to be closed with final Payment.
Plan 6 RE/DCR(DOF) of $20.77B plus interest 75/25%
NOL Carryforward.
And More...
HLCE,
Ron
WM Citation Holdings, LLC
WM Citation Holdings, LLC 91-2140971 1301 Second Avenue,
WMC 3501 Seattle WA 98101 Holds Corporate
Property 7/13/2001 Active
Washington Mutual Capital Trust 2001 Grantor Trust 1301 Second Avenue Seattle WA 98101 Obtains Capital/Funding 4/23/2001 Active
H.S. Loan Corporation 95-4563178 9200 Oakdale Avenue Chatsworth CA 91311 Holds Loans/Investments 12/22/1995 Active
HS Loan Partners LLC 91-1984606 9200 Oakdale Avenue Chatsworth CA 91311 Holds Loans/Investments 6/14/1999 Active
Marion Insurance Company, Inc. 91-2006036 100 Bank St., Ste. 610 Burlington VT 05420 Insurance Issuer 9/8/2000 Active
https://www.kccllc.net/wamu/document/0812229081219000000000013
Keep reading, there is more.
Hat tip to LG and friend.
See Reply to for DS regarding WM Citation Holdings, LLC.
:)