... Regarding WMIH Corp ? ...
Irrelevant of any and all issues' ... Weil' took pro active steps to protect the massive value of WMI' ... steps that were taken' prior to the OTS / FDIC ever arriving to seize WMB on 9/25/2008' ...
The initial separations of the bankruptcy filings submitted, between WMIIC Filing # 0001' and WMI Filing # 0002' along with the Filing "in support of" presented by Stewart Landefeld (Executive Vice President of WMI) ... written on 9/26/2008 and entered into the docket on 10/2/2008' ... reveals the sequence of events that was utilized to protect WMI'(s) value, as these two bankruptcy filings were combined' "procedurally" only
WMIIC' as stated within the filings, filed bankruptcy with zero debt' ... WMIIC was then joined "procedurally" only within the WMI bankruptcy process as it moved forward
Weil' ... separated "value" to be combined within the consolidation between WMIIC and the exiting reorganized company, at some future point in time' ...
again' ... from the documents'
"WMI owns 100% of the equity in WMIIC"
"(regarding WMIIC)" ... "IS eliminated upon consolidation"
(WMI is the Original Debtors Estate)
Well, for the first time since September 2008, ... all things are in place to finally allow this consolidation, planned for so long ago, to actually take place ...
WMIH Corp' ... needed to be registered in Delaware, along with the LT and WMIIC' (which always maintained a Delaware Registration) ... which now, as mandated by the Rights Offering, has occurred' ... WMIH has moved to Delaware'
WMI as noted' ... had numerous non banking subs at the time of seizure' ... however' ... WMIIC was the chosen one'
Weil' ... took steps prior to the seizure ... long before there was any knowledge of an equity committee ... Weil' left nothing to chance regarding this massive WMI value' ... Nothing could be trusted to the rulings of a BK court, or any unpredictable potential actions by the FDIC or JPMorgan, as the process moved forward' ... Again' ... the values were massive' and nothing could be left to chance
Currently ? now that WMIH has moved to Delaware ? I can see no obstacles remaining ... no obstacles, that would keep this plan which was designed so very long ago (Sept 2008) to not come to fruition regarding this newco' ... WMIH Corp as now, ... for the first time since Sept 2008' ... WMIIC can actually be "eliminated upon consolidation" with WMIH'
~ merely a simple accounting tool ? ~ Not Hardly' ~ that is humorous ...
Weil' was severely underestimated' ... and' so was Susman' within his ability to have an understanding of what had actually occurred' ...
Mike W's mission' was to make sure that the equity class participants were included within this genius of a plan' ... a plan to protect value to be reconnected within an exiting reorganized company at some future point in time'
~ Well ? IMO' The time is NOW for WMIH Corp to be in a position to move' forward within its pre planned "destiny"
AZ
AI
