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Yes AZ, The Mission of WMILT is;
just to pay/satisfy the Creditors and the approved Claimants and close the BK.
Only enough money and funds was placed into WMILT envelope to pay/satisfy the Creditors and the approved Claimants.
We are Done.
We are just awaiting the FDIC to satisfy the GSA with "the Final Payment" to WMI for "WMB and it's assets".
We released JPM for "willful misconduct".
More... Series R Stuff and More.
Follow the posts replies as a thread.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149946726
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149931388
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How Much are the Series R Worth?
See replied to post/thread.
Series R are Non-cumulative, and perpetual. WM Preferred Funding III.
No cumulative interest dividend payments.
Interest dividend = 0.
Performance dividend = ?
No 75/25%
See Replied to Post.
AZ has had great post as always. Other then that, not much worth reading.
Just awaiting the FDIC to satisfy the GSA with "the Final Payment" to WMI for "WMB and it's assets".
We released JPM for "willful misconduct".
In the Summer of 2017 the FED,
was to fund back into the economy $4.5 Trillion in $50 Billion increments per month from the accumulated ABS held by agencies like the FDIC. That has NOT happened yet. That $4.5 Trillion is now more than $5.0 Trillion.
The FED will raise as much as $1.4 Trillion from releasing these funds.
The Math; $5.0T * 28% = $1.4T.
or $50B *28% = $14B a Month.
Not Even Close goodie.
Please read my post on the topic;
https://investorshub.advfn.com/boards/profile.aspx?user=631267
No meat, The 510(b) Stipulation Was Approved,
by the Court. The 510(b) Stipulation could be modified and was by the parties. The modified Stipulation did not need to be re-approved by the Court.
Again, there is no UW Stipulation problem here.
The Topic During the $10B Comment,
was in regards to the WM Capital Trusts.
The WM Capital Trusts are a 'living will' for the common shareholder.
The WM Capital Trusts are worth much more than $10B.
Everyone is going to do just fine.
HLCE,
Ron
Well Done meat, Yes BB0b is CONfused.
goodie;
Yes the UW 510(b) Stipulation was APPROVED by the Court, and was able to be modified by the parties and was. The modification did not need an APPROVAL by the Court.
The modification reflected the change from Plan 6 to Plan 7 and remedied the UW Claim.
Yes, the Angry Goddess had a self created tantrum.
There is NO problem here.
BB0b, Same Answer As Before.
LG, There is NO 75/25% To The END.
Series R is associated with the remainder in WMILT at 75/25%, and then the WM Preferred Funding III only.
You and AG are totally wrong regarding the 75/25% topic.
goodie, Go Read the Standing Order.
September 11th, 2012 Standing Order.
LG, Preferred are NOT being Diluted.
Share count never changed. Released share count never changed.
Hence; No Dilution.
LG, The UW are on the list.
and had until MARCH 19, 2013 to submit their Release form.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149611332
Payment to Close GSA Must Come First.
The foundational Settlement of the BK and Debtor reorganization must be satisfied first with the BK still open so that the Court can force resolution and/or penalties as needed to protect the Plan. The BK has purposely been kept open for this reason.
Currently, the GSA is only the terms for a settlement. The Settlement is not settled until it is completed with payment. JPM's 41.6 Releases are not in full effect yet. Equity has acted in good faith, now it's time for the other parties to fulfill their obligations of the contract.
Order of Events;
* Non public resolution of WMB receivership.
* FDIC allowing ABS Trustees to commence distributions and pays for "WMB and it's assets" to WMI.
* ABS Trustees distributions satisfies Class 18 claimants and Trust Backed Preferred Shareholders.
* Series K are generously redeemed.
* Payment for "WMB and it's assets" to WMI commons and JPM satisfies Class 17 noteholders.
* Now that all claimants are satisfied, the BK can close. BK can't close with Class 17-18 open.
When ABS Trustees to commence distributions, COOP can S4V.
IMO, B. Rosen/Collins have few delay tools left, just like they planned.
HLCEs,
Ron
The Reason for The National Union Fire Insurance Stipulation,
is the releases, but see paragraph M on PDF 7/9. Sorry; not cut and paste-able. See link in pervious post.
JPM has taken responsibility for the Insurance Agreements, so therefore the claim against WMI was dropped.
Same will be true of all other Class 17 and Class 18 claimants when JPM gets the Title to "WMB and it's assets". See QSR notes for "Taxes". JPM is paying 80% of WMI Group's taxes. Yes, WMI still has Title to WMB.
Example; MARTA and TMF claim is against WAAC and WMMSC of WMB that when to JPM, but WMI still has the Title to WMB.
We await FDIC's payment for "WMB and it's assets" to WMI to close the GSA, and the freeing of the ABS held in FDIC Save Harbor which will satisfy all claims for Class 17-22.
Signed, Order Approving Stipulation
Court Docket: #12657
Document Name: Order Approving Stipulation Between WMI Liquidating Trust and National Union Fire Insurance Company of Pittsburgh, PA. Regarding Withdrawal of Administrative Expense Claim
Date Filed: 8/2/2019
Related Documents [1]
12655
http://www.kccllc.net/wamu/document/0812229190802000000000001
Mort, IMO MARTA as Class 18,
goes away when FDIC frees the Safe harbored Trusts. When the RMBS Trusts pay parties like MARTA, then MARTA no longer has a claim against the Estate.
Problem solved.
Same for all Class 17 and Class 18 claimants. This problem is solved by FDIC/JPM, not WMILT.
Mort, The Problem was the LB RMBS,
not the Series R preferred. The LB RMBS only saw a 11.7% loss noted from Globic.
The underwriters claim for indemnification for lawyer fees spent in defending lawsuits arising from 2006 and 2007 for the LB RMBS. Series R was NOT the problem. Series R isn't the garbage like LB. The Series R sold for ~$1,300 before the JPM rumor mongering started about Bad WaMu. Yes, ~$1,300 for a $76 dividend. Why?
Because there is two dividend payments and the Trusts are insured.
When the FDIC does their job, we will see just how valuable the Series R are.
510(b) Stipulation approved by Court; PDF 20/77. See point 10 of 510(b) Stipulation; can be modified, and it was by the parties. There is NO problem here!
http://www.kccllc.net/wamu/document/0812229190322000000000001
Mort, MARTA Is Not A Creditor !
MARTA is a claimant. Their claim is against WAAC and WMMSC. WAAC and WMMSC are affiliates if the Debtor just like TMF and others holding RMBS originated by the subs of WMB; WAAC and WMMSC.
WAAC and WMMSC are affiliates if the Debtor because WMI still has the Title to WMB. See new QSR (Taxes).
Wrong Don. UW Own Them.
There was no gifting of Series R shares to UW.
The UW owned Series R preferred shares as underwriters as either a direct purchase or product left on the shelf. In Plan 6, Series R and K were in Class 20 and TPS was in Class 19. UW entered into 510(b) Stipulation with Plan 6. Plan 6 failed.
Plan 7 made Class 19 and Class 20 Pari-passu, and Series R and K moved into Class 19 and Class 20 became empty. Therefore UW and WMILT needed a new Stipulation to reflect the change from Plan 7. The UW were given until March 12, 2013 to submit their releases.
UW Class 18 claim is regarding Long Beach RMBS that WMB inherited when WMB bought LB. The UW are smart and dropped the Class 18 claim. Class 18 will be satisfied when FDIC frees up the Safe Harbored ABS Trusts, so why litigate against WMI?
There is no foul play by The Court, the WMILT, or the UW.
AG manufactured the problem.
Well Done meat, I See You Have Been,
Reading My post regarding the UW Stipulations topic,
All of AG's assertions are in error. Not even sure she released her Series R preferred shares.
BB0b, Watch-out for The Truck !
Truck Insurance Exchange.
We should see a Stipulation with Truck next.
GIT 'ER DONE!
WMB Subs Securitized $2 Trillion in RMBS,
$500 Billion was sold to Fannie and Freddie according to the FDIC.
That is not including Commercial Trusts, or Credit Cards Trusts securitized by WMB.
That is not including ABS Trusts securitized directly by WMI as non-WMB subs and currently under WMI.
Example; WM Cap Trusts. Posit that !
Now, how much did WMI/WMIIC invest into their own securitizations?
What about investments in others ABS offerings by WMB or WMI?
JPM invested in between 5% to 95% in their securitizations!
A&M is busy.
No meat, "Willful Misconduct".
We Released JPM for "willful misconduct" in 41.6. Now see #1997. Project West. If we went full litigation, JPM was dead. JPM's entire BOD was guilty of the RICO charge by being part of Project West plan. ~$500K and 20 years in prison.
WMI sued the FDIC for $305 Billion for "WMB and it's assets" based on the Dual track and #5885 FN 2. 5AT. FDIC's response is $299B.
Both FDIC and JPM settled on our terms. The slow play was due to settling LIBOR and covering ABS insurance contracts called derivatives with payments.
"willful misconduct criminal rico treble"
https://www.google.com/search?client=firefox-b-d&ei=N8I3XejINYu90wLEjIXgDA&q=willful+misconduct+criminal+rico+treble&oq=Willful+Misconduct+criminal+rico+trebel&gs_l=psy-ab.1.0.33i160.843364.849920..852745...0.0..0.86.421.7......0....1..gws-wiz.......0i71j33i299.H4CTISGns7c
Appellee's BRIEF by WMI Liquidating Trust.
One of four Docs filed.
https://www.pacermonitor.com/public/case/28006327/In_Re_Washington_Mutual,_Inc,_et_al
goodie, That Didn't Happen.
S4V is based on ESC holdings. COOP's non-legacy WMI holders are not part of S4V of WMI's assets.
As AZ has noted; COOP is prepared for an S4V event to WMI ESC holders. The last last 3 8-K have support the 10-K with perpetration for registering new shares.
=> AZ is Right < =
Richards, Layton & Finger.
http://www.rlf.com/
Richards, Layton & Finger represents WMI.
Weil, Gotschal & Manges LLP represents WMI in BK. The Debtor.
Parties & Addresses
https://www.kccllc.net/wamu
Already taken care of.
The Washington Mutual-related mortgage securities,
were insured.
The ABS CERTS are Bonds and are insured by derivatives. The Trusts were insured. JPM was a major writer of the contracts covering the Bonds. So when;
"seeking to shift losses on over $190 billion of Washington Mutual-related mortgage securities onto the FDIC – claiming that for a mere $1.9 billion it bought nearly all of the positive value of WaMu and was able to stick the public with essentially all of the ongoing losses",
JPM was trying to avoid payment to cover the ABS losses. The crisis in 2008 wasn't the the mortgages, but the insurers inability to cover the mortgages loses. JPM didn't have the needed cash, and nor did the FDIC to cover JPM's losses.
Searched; causes of 2008 financial crisis
"The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. ... That created the financial crisis that led to the Great Recession."
Housekeeping, and DEE is Free to Distribute.
All good.
BB0b, This List of DB as Trustee?
PDF 17-20;
https://www.fdic.gov/bank/individual/failed/wamu-dbntc-jpmc-fdic-settlement.pdf
$165 Billion.
No meat, The WMB RECEIVERSHIP,
balance sheet of ~$146M in cash does not reflect "the Final Payment" by JPM to the FDIC for "WMB and it's assets". That has not happened yet, but will.
The FDIC's valuation of "WMB and it's assets" is $299 Billion.
WMI is a creditor to WMB, #5885 Fn #2. So, WMB's liabilities are to WMI.
We released JPM for "willful misconduct". 3X.
No meat, Only Because We;
still have the Title to "WMB and it's assets" is their claim valid.
When the Title moves to JPM, so does the obligations. Class 18 is the Pay Point for "WMB and it's assets" to WMI. MARTA and TMF claim is against WAAC and WMMSC, subs of WMB.
The FDIC throttles the ABS distributions that are held in Safe Harbor.
UW Class 18 Claim;
was for Long Beach offerings. LB is owned by WMB. Therefore the Class 18 is really a wrong party claim just like MARTA and TMF claims will be when FDIC pays WMI for "WMB and it's assets" and gets the Title.
The UW were smart enough to drop the Class 18 Claim and wait out FDIC's release of Safe harbored ABS Trust's funds.
The UW own Series R Preferred shares out right and their Class 19 Claim is valid.
AG is wasting time and money.
No meat, Class 18 is a Claim To The Estate.
Class 18 is WMB issues. The Pay Point to WMI.
MARTA and TMF claim is actually against WMB.
When the FDIC pays WMI for "WMB and it's assets", then FDIC/JPM gets the Title to "WMB and it's assets" and Class 18 is closed.
MARTA and TMF claim moves to JPM with the Title to "WMB and it's assets" and is satisfied when the FDIC releases the ABS Safe harbored Trusts funds. MARTA and TMF claim against WMI was only valid because WMI still has the Title to "WMB and it's assets". WAAC and WMMSC are WMB subs and "affiliates of the Debtor".
The Series R Preferred Traded at;
$1,300.00 before BK, Why?
Bonds and Preferred shares normally trade related to their Dividend payments.
Some are starting too get it.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149415587
******************
Might Give Us an Idea About Our P's.
Distribution (per Preferred Share); $337.50
Distribution (per Depositary Share); $33.75
https://www.jpmorganchase.com/corporate/investor-relations/pr/preferred-stock-dividends-061419.htm
$1,000 face.
JP Morgan Chase & Co., 6.75% Dep Shares Fixed/Float Non-Cumul Pfd Stock Series S
http://quantumonline.com/search.cfm?tickersymbol=JPJQL&sopt=symbol
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149411122
SGB, WM Preferred Funding III;
is over funded.
My P's will do just fine.
Perpetual !
goodie, The Prospectus follows the Living Security.
REIT UQ, PQ, KQ, Shares became dead with reorg and were cancelled.
The ESC Tracking Markers live on with their prospectus....
meat, Don't Blame Me for AG.
What mediation?
Yes the Prospectus for the tradeable "Reits, Wampq, Wamkq and Wamuq were CANCELLED. FACT!!!!"
But the Prospectus for the ESC Tracking Markers remains valid.
zero meat. . .
zero credibility!!!
75/25% only applies to the WMILT Envelope which is now nearly empty.
CRO [A&M] hold the rest of Old WMI's assets which is distributed according to the Securities Prospectus.
All of the WMB payment goes only to WMI Commons, UQ's. The Owners of the Estate.