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Please Remember That;
An Investment lives on the Balance Sheet as a Liability!
When the investment is sold/liquidated 'cashed-out', then it becomes an Asset.
WMI/WMB investments in ABS/MBS would be reported as a liability on their balance sheet.
The FDIC's numbers; "$299 Billion for WMB and its Assets".
HLCE,
Ron
"direct or indict", need the document?
"direct or indict". You signed the document with your own pen and delivered the document to your Brokerage account.
Go-Fund_me ??
"direct or indict".
The LT Function is to Pay Creditors.
Only 155MM was placed into the LT to pay the Creditors.
The RE/DCR never became property of the LT to pay creditors.
RE/DCR is the last of 75/25% because the 363 Sales passed through the BK.
$6.5B Capital Contributions
$5B Rabbi Trusts.
... $20.78B in RE/DCR.
The Bop vigilantes are encouraging her to fight...fight...fight as she spends her money as they hold her jacket.
Are you going to pay her debt?
Expenses from Sanctions? For Friday hearing or the last three years?
Bop supporters, "direct or indict" You signed with your own pen with ink to not bring forth an action.
Need more?
AG's Litigation/Expenses is a losing Story.
Let's just do Alice's numbers based on her claims.
Owns 3,000 Series R, valued at $3MM "face".
$3MM * 2.5X + 7,500,000
7,500,000 at 1% = $75,000
Now Series R preferred is only 66.667% of class 19.
$3B/$4.5B = .6666667
Alice's only has $50,000 to spend on litigation before losing money.
More coming...
End of the Month is Coming.
COOP's is the Tell.
See 41.6
We released JPM for "willful misconduct".
See 41.8
LT is still the Guardian of the GSA.
WMI sued the FDIC for $307 Billion for the 5AT.
FDIC, %299 Billion for WMB and its assets.
The LT is Closed, but not Terminated yet.
Find a good financial planner.
HLCE.
I'm Still Here. Hi BD. HLCE.
Thanks JB9.
I stopped posting because Alice was using my support information from the Equity Committee presentation and the Discovery Document against the LT.
Actually I'm clad that AG didn't lose her ESC's due to 41.7. She could have lost it all and her 'backers' suffered nothing. Paying attention BB, LG, others, and most of all Mordi?
The LT's function is to pay the Creditors. The LT for Creditors never lied to us. The LT paid the Creditors. Done. Closed, almost liquidated, then terminated. DONE.
The RE/DCR of $20.78 Billion in the February MOR of 2012 was not in the last far right column of the the LT's ledger of which only $155 million was designated for LT creditors. Note that the base obligation amounts to Preferred holders of $7.5 Billion is accounted for as of February 29th. This was before Plan 7 and 75/25% implantation for only BK recognized assets. Reminder ~$32-~$8=~$24 Billion. One of the ~$4B of the turn-over or the TPS exchange event is not accounted for in the RE/DCR. The Numbers work. No one lied, you just need to understand the attorneys are not talking to you but to other attorneys. This is the LAST of 75/25%. Bop's number is as I understand is 2.5X. I'm at 2.8X for Class 19.
Preferred Funding Accumulation.
Thank you AZ for the numbers. AZ has done great work in finding and bring forth the background asset of the WMI machine. This pool is largely for Series R 'P'. More Big Numbers for P's. Just smile.
Understatement Thank You AZ for your work on the PF and ABS/MBS.
Please no more litigation and 'stuff' to the LT. Let the LT terminate.
ESC. If the ESC's are worthless, you need to pay a service fee to maintain them in your account. Because your ESC are not worthless...
Hint!.
Hint 2:
WMI was a $375 Billion company with only $8B debt, and WMB's $13B in notes was backed by $26B.
Yes HLCE coming,
again, relax and let it happen.
Ron
LG, Who Signed the 1-23 "Terminated" Doc?
? The U.S. Trustee in Delaware?
? Judge: Mary F. Walrath?
I don't have Pacer, I can't see the signer. I'm guessing the U.S. Trustee in Delaware signed the 1-23 "Terminated" Doc.
IMO, the "Final Decree" ruled on by Judge: Mary F. Walrath on 12-19-2019 is the defining document(court transcript) regarding BK closure, and the 'SEC time clock' not the U.S. Trustee "Terminated" filing.
BK closed in 2019.
Happy Life Changing Event,
Ron
All of the Current Accounting is Unaudited.
WMIH-Corp is no longer under BK protection and now WMIH-Corp with COOP must supply the market place with Audited books reflecting WMIH-Corp's valuations also.
No more "unaudited, consolidated, condensed, and interim" Form 10-K's
I'm expecting to see a Form 10-K/A "Amended" submission for 2019 with audited accounting with WMIH-Corp's valuations
The Final Decree of 12-19-19 closed the BK last year.
http://www.kccllc.net/wamu/document/list/3853
? "Terminated" 1-23-20 ? By whom? who signed the document?
ORDER: The Bankruptcy Court's April 24, 2019, order is AFFIRMED (***Civil Case Terminated). Signed by Judge Richard G. Andrews on 3/23/2020. (nms)
https://www.pacermonitor.com/public/case/28006327/In_Re_Washington_Mutual,_Inc,_et_al
Yes, I'm still here.
HLCE,
Ron
Closing Argument of Equity Committee
PDF 20/78
http://sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/POR/WaMu_Closing_Equity_Committe.pdf
$4B TPS reimbursement
$6.5B Fraudulent Conveyance
$5.54B Tax Returns
$4B Deposits
$5B BOLI/COLI
?? How much is the JPMC Business Tort Claims worth??
$33B - ~$8B some of which be came the 363 Sales and disclosed as the RE/DCR in the February MOR, PDF 10/18.
http://www.kccllc.net/wamu/document/0812229120330000000000007
Closing Argument of Equity Committee
http://sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/POR/WaMu_Closing_Equity_Committe.pdf
$33B - ~$8B some of which be came the 363 Sales and disclosed as the RE/DCR in the February MOR, PDF 10/18.
http://www.kccllc.net/wamu/document/0812229120330000000000007
PDF 20/78
ND9, The Money Transferred from;
the WMI Debtor's balance sheet to WMILT's balance sheet as indicated by the use of the ().
Example;
Closing Date;
Commons
Preferred
(RE)
Funds vs Obligation.
The Equity holder funds from the 363 Sales that became the (Retain Earnings) as a debtor obligation then sent to the WMILT.
Then the next column set "Distributions"
(Commons)
(Preferred)
RE
Obligation vs Funds.
The (Equity Obligations) from the 363 Sales that became the Retain Earnings funds from the WMILT, but no relation to LTI's.
LTI's are for Creditors and completed, and not legacy RE WMI Equity Holders.
The February MOR and Retained Earnings.
$20.77B from the 363 Sales of WMI's assets was transferred from WMI to WMILT as Retained Earnings for legacy equity holders as Documented.
#10004 PDF 10
http://www.kccllc.net/wamu/document/0812229120330000000000007
Yes It's all true;
From New Q&A.
"3. Other than as reported in its Quarterly Summary Reports and/or filings with the U.S.Securities and Exchange Commission, is the Trust holding any assets that are “Off-Book”,“Safe Harbor Assets” (e.g., “Washington Mutual Capital Trust 2001”, “Posit”, or “Retained Earnings) or other assets? Is the Trust entitled to any income, cash or other forms of value related to the legacy home loan servicing operations of, or securitization transactions sponsored or consummated by, Washington Mutual Bank or its affiliates?
There are no material assets of the Trust1 other than the cash described above and any potential recoveries arising from the LIBOR litigations. As the Trust disclosed during the pendency of its Chapter 11 proceedings, all of the Trust’s material assets were disclosed by the Trust from time to time in its Quarterly Summary Reports and/or SEC filings and no assets were or are “hidden” or “unreported”. The Trust’s administrators are aware that certain individuals who have an interest in the operations of the Trust (e.g., legacy shareholders of Washington Mutual, Inc.) have suggested that the Trust is hiding assets or is entitled to value from the Washington Mutual Bank receivership or from legacy home loan servicing operations and/or securitization transactions engaged in by Washington Mutual Bank and its affiliates. Such suggestions are inaccurate: the Trust’s unaudited financial statements disclose all of the Trust’s material assets. Additional information regarding the Trust’s assets as of the Effective Date can be found in the Global Settlement Agreement, Disclosure Statement and Confirmation Order. We also refer you to the Trust’s Quarterly Summary Reports and SEC filings."
Other than as reported in its Quarterly Summary Reports and/or filings with the U.S.Securities and Exchange Commission; Then, ?Why was $20.77B reported in the FEB MOR as Retained Earning? as "Other than".
From; the Trust’s unaudited financial statements disclose all of the Trust’s material assets because WMI as a BK protected entity operates unaudited.
The WMILT's function is/was to pay creditors claims, and it did. All Creditors were pay on January 13th. The Retained Earnings have nothing to do with WMI-LTI's for Creditors. RE isn't the WMILT's money, its belongs to the Equity Classes as a DCR to cover a 'just in case' Creditor.
363 Sales;
$6.5B Capital Contributions.
$5B BOLI/COLI
...
PDF 20/78;
http://sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/POR/WaMu_Closing_Equity_Committe.pdf
With AG Appeal Denied, the distributions matrix are no longer contested.
Doreen Logan and Chad Smith.
CS and DL, If It Can Be Shown,
that You as representatives of the Winddown of WMI-LT delayed timely distributions to ESC-Holders from the fund held in the RE/DSC generated by the 363 Sales now that the BK process is Closed.
***
Fiduciary Responsibly to ESC-holders.
***
CS and DL, I Appeal to You,
Please Expedite the RE/DCR Distribution.
Many are suffering due to the total shutdown of many business like all Restaurants, and now the Auto Manufacturing sector.
Many ESC Holders suffering but, can help other when You fulfil your fiduciary responsibly to ESC-holders.
PLEASE.
DL and CS, Please Expedite the 363 Sales Distribution.
My replied to post is the background for and proof of the 363 Sales funds held by the WMI-LT in a separate envelope that need to be distributed ASAP.
DL and CS are causing the ESC-Holders undue harm by your inaction in releasing our due funds.
The RE/DCR of $20.77B.
Court Docket: #0505
Document Name: Order Shortening Time to Consider Supplemental Motion of Debtors Pursuant to Sections 105, 107, and 363 of the Bankruptcy Code for Order Approving Modified Procedures for the Sale of Debtors' Interests in Certain Investments Free and Clear of Liens, Claims, and Encumbrances and Without Further Court Approval
Date Filed: 12/29/2008
http://www.kccllc.net/wamu/document/0812229081229000000000008
Court Docket: #2450
Document Name: Order Authorizing the Debtors to File Under Seal (A) Certain Portions of the Post-Trial Memorandum of Law in Support of Debtors' Motion for an Order Pursuant to Sections 105(a) and 363 of the Bankruptcy Code Authorizing but Not Directing (I) Washington Mutual, Inc. to Exercise Its Ownership Rights Over Certain Trust Assets, (II) Distribution of Trust Assets, and (III) Termination of the Trusts and (B) Tab "A" to Appendix Thereto
Date Filed: 3/3/2010
http://www.kccllc.net/wamu/document/0812229100303000000000002
Court Docket: #10004
Document Name: Monthly Operating Report for Debtor in Possession for the Period February 1, 2012 Through February 29, 2012
Date Filed: 3/30/2012
PDF 10/18
http://www.kccllc.net/wamu/document/0812229120330000000000007
Hint: search 363;
Disclosure Statement, as Revised dated 1/9/2012 [DN 9365]
THIS IS NOT A SOLICITATION OF ACCEPTANCE OR REJECTION OF THE SEVENTH AMENDED PLAN. ACCEPTANCES OR REJECTIONS MAY NOT BE SOLICITED UNTIL A DISCLOSURE STATEMENT HAS BEEN APPROVED BY THE BANKRUPTCY COURT. THIS DISCLOSURE STATEMENT IS BEING SUBMITTED FOR APPROVAL BUT HAS NOT YET BEEN APPROVED BY THE BANKRUPTCY COURT.
http://www.kccllc.net/documents/0812229/0812229120109000000000015.pdf#page=170
IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In Re: WASHINGTON MUTUAL, INC., et al.,
Vs JP MORGAN CHASE BANK, N.A., et al.,
December 7, 2010
Closing Argument of Equity Committee
http://sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/POR/WaMu_Closing_Equity_Committe.pdf
Take a Good Look at the Wording;
"“Predecessor” financial information in the Business Segments section relates to Nationstar, and “Successor” financial information relates to Mr. Cooper. With respect to the year ended December 31, 2018, we have presented our results on a “combined” basis by combining the results of the Predecessor for the seven months ended July 31, 2018 with the results of the Successor for the five months ended December 31, 2018. Although the separate financial results of the Predecessor for the seven months ended July 31, 2018 and the Successor for the five months ended December 31, 2018 are each separately presented under generally accepted accounting principles (“GAAP”) in the United States, the combined results reported reflect non-GAAP financial measures, because a different basis of accounting was used with respect to the financial results for the Predecessor as compared to the financial results of the Successor. We have not provided a reconciliation of the financial metrics reflected under the “combined” basis as such reconciliation cannot be provided without unreasonable effort as a result of this accounting variance. The financial results for the year ended December 31, 2019 reflects the results of the Successor."
http://www.snl.com/Cache/IRCache/c976cb45b-9baf-f3aa-8a77-2c11e06a354f.html
For a First Quarter Report,
The events to report on would need to happen in March. The First Quarter.
WMIH-Corp/COOP needs full accounting of assets, because the BK is now closed. No more hide the Sausage.
It's time to audit the books.
IMO, there is ~$27B in undeclared assets between WMIIC and the Debtors non-debtor Subs (Citation and H. S. Home Loan) that need to be reveled and reconciled.
How Did Little Nationstar Become So Big?
$654 Billion sounds like a WMB servicing number?
Was Nationstar a big servicer before meeting Reorganized WMI?
Fiduciary Responsibility to Shareholders.
Fiduciary Duty of Loyalty
"Officers and directors owe a duty of loyalty to a corporation and its shareholders. They are expected to put the welfare and best interests of the corporation above their own personal or other business interests."
The Money is there from the 363 Sale that became the RE/DCR of $20.77B reported in the Feb 2012 MOR. Why hasn't the money not been distributed yet?
Do I call/email DL and CS? Why? Neither are going to answers a true question posed by me about regarding the money transferred to WMILT's RE/DCR of $20.77B from the Debtor current under administration by DL and CS.
Please; DL and CS, just make the distributions.
Undue Hardship;
https://en.wikipedia.org/wiki/Undue_hardship
I'm not the only one unhappy by the Fiduciary Reasonability breached by our agents.
Do we make you feel our enduring pain due to your non-performance of your Fiduciary Responsibility as agent to Equity holders?
Doreen Logan and the RE/DCR of $20.77B.
Doreen, did you and Chad lose my money as the functioning Debtors/WMIH-Corp and WMILT agents to fulfill your financially responsibility as the agents to Equity holders?
Where did the $20.77B from the FEB MOR go?
Please stop sitting on my money and please expedite distribution of my property.
The WMI Non-Debtor Subs of around $27B moved to WMIH-Corp needs to be accounted for by WMIH-Corp/COOP.
MB research; Did DL, CS and KKK hold WM common shares at the time of the seizure on WMB?
From my records;
DL=0
CS=?
KKK=0
S&G: Edger, and Justin; please don't consider WaMu as a victory. My pockets are still empty
Currently, you are both losers. Please tell your Boss.
Residual Assets in WMI Non-Debtor Subs.
~$375B - $307B - $33B -$8B = ~$27B in WMI Non-Debtor Subs needing to be accounted for by WMIH Corp/COOP now that BK is closed.
February 25th.
?!?!
Austin01, WMI Was More Than $375B.
$8B are the only know true liabilities of WaMu.
WMB ~$13B Notes are backed by +$26B in assets.
FDIC said WMB securitized $2T in RMBS, of which $500B was sold to FNMA and FMCC.
Yes, WaMu is very big and most of which was liquidated.
WMI BK; $33 - $8B = ~$25B.
~$25B - $7.9B = $20.7B in Feb MOR.
Relax, we will.
WMI and the FDIC,
told us about the valuation of "WMB and it's assets".
$299B + xX with FJR for 11+ years.
"Willful Misconduct", 41.6
$24B was the valuation/loss for only WMB and NOT WMB subs that became the $6B NOLs.
WMB's subs are liabilities until liquidated.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153912873
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153913414
Austin01, These are NOT My Numbers.
Please reread my post more carefully.
FDIC R vs. C.
The FDIC has NOT been Released Yet, Both R and C.
JPM Raised $1.4 Trillion in EURO Notes,
on January 20th 2017.
IMO, JPM stock price will be fine.
Covered.
No Need for Dr. A's Numbers.
I'm Saying his numbers are wrong, but;
The FDIC-C told us.
"$299 for WMB and it's assets".
Dr. A's numbers where based on a Revenue Generation Model based on earnings only and not 'other assets'.
Example of other assets;
Mineral Rights.
Idle Property.
Investments; Remember, investments are a liability until liquated.
Yes JPM Will Pay for WMB.
5AT.
"Willful Misconduct", 41.6. Code word for RICO.
FDIC is not released until JPM pays. FDIC needs to make it happen.
Now the accounting;
FDIC-R original Balance Sheet:
Back ground;
WMI sued the FDIC for $307B.
WMB's subs are liabilities until liquidated.
>WMB only< (not the subs) loss was $24B that became the source for $6B in NOLs.
$307B - ~$284B in liabilities = ~$24B => to $6B in NOLs for WMB to reorganized WMI.
Then FDIC-C reports to it's Board of Governors;
"$299B for WMB and it's assets" after JPM pays back WMI $7.9B for the Turn-over on $3.9 plus the $4B for the Exchange Event.
This means the FDIC has generated the liquidation value for the subs of WMB.
Hence; "$299B for WMB and it's assets". Plus xX and 1.95% FJR at a minimun.
More Than $25 Billion is Unaccounted For.
WMI Pre BK = $375B min.
WMB = $307B; from FDIC and WMI valuations. Liquidated by FDIC. $299B for "WMB and its assets" after $7.9B paid back to WMI from the $3.9B Turn-over Event and the $4b Exchange Event.
WMI claimed BK assets; $33B - $8B = ~$25B. Liquidated by WMI as 363 Sale in BK.
$375 - $307 - $33B - $8B = $27B minimum.
The last unevaluated assets are WMIIC and the non-debtor Subs of Citation and H. S. Home Loan.
Reverse Triple Backflip Merger.
How Much was WMI Worth, and What is Missing?
a. Printed Value; $375B.
b. WMB's $307B valuation, and WMB was 80% of the Tax responsibility.
…$307B /.80 = $383.75B
a. Reported valuations;
$375B - $307B for Bank - $33B for WMI Assets - $8B in liabilities = $27B of unaccounted for assets.
b. Calculated Valuations;
$383.75B - $307B for Bank - $33B for WMI Assets - $8B in liabilities = $35.75B of unaccounted for assets.
~$43.75B to $35B in unaccounted for assets of WMI held in WMIIIC and the Non-Debtors Subs of Citation and H, S. Home Loan.
Pick, I Studied The 363 Sale,
and tracked the RE/DCR through the whole process.
I'm Right because I did my homework and the numbers work.
Retained Earning are withheld 'Dividends' payments to Equity Holders.
TPS will be satisfied at ~3X for their 'contribution' to paying the Creditors for the benefit of Equity holders.
RE/DCR is the Last of 75/25%.
DONE.
WMI -> WMILT -> WMIH Corp.
~3x for WMI ESC Preferred holders.
~$6.00 WMI ESC UQ holders.
1-23-2020 was a Material Event.
WMI -> WMILT -> WMIH Corp.
The RE/DCR was a reserve for the WMILT DCR to pay Creditors. If more money was needed then set aside in the WMILT DCR, the RE/DCR would fund that need.
The RE/DCR came from the 363 Sale of around +$24B of which $4B of the TPS Exchange Event money went to pay Creditors. That is why the RE/DCR is $20.7B in the Feb MOR.
WMI -> WMILT -> WMIH Corp.
BK is formally "Terminated" on 1-23-2020.
IMO, the RE/DCR of around $30B is now in WMIH Corp custody and ready for distribution to ECS equity holders using the 75/25% ratio.
This compensates TPS for their 'contribution' in paying the Creditors and giving BK control to Equity Holders.
Preferred are non-cumulative, No Passed Interest accumulation. TPS is cash.
RE/DCR
Preferred; ~3X.
UQ; ~$6.00.
Yes BB0b You are 100% WRONG.
The "Plan of Record" shipped the "Plan of Reorganization" to Philadelphia.
P's and K's Preferred are non-cumulative, therefore no passed due interest payments.
TPS are all cash due to the Exchange Event.
RE/DCR in now around $30B, or ~3X Face to Preferred holders and the End of 75/25%. IMO!
Live with It.
No Problem, Major. EOM.
That is Some Bad Math Major.
IMO, RE/DCR is the Last of 75/25% Distribution.
WMI -> WMILT -> WMIH Corp.
All the Creditors have been paid. Therefore; RE/DCR is ours.
@ ~$30B;
Preferred; 3X. 3X is better than unpaid interest.
Commons; ~$6.00
75/25% is NOT Global.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153374106
HLCE,
Ron
Me? I'M Still Here.
No need to post. Just awaiting the Payments.
Then I'm gone.
We Win.
HLCE