...Yes LG, The Sequence Was Designed Long Ago ...
We all watched the P&AA terminate on 9/25/2014 ... through to our last and ending trading day' on the OTC ... exactly one year later on 9/25/2015'
During that specific, to the day' 12 month' time period, ... we all watched as JPMorgan released it's 12/31/2014 - 10-K, which included it's R-203 attachment' ... then again, we watched the WMIH replacement financing agreement finalize on 01/05/2015 ...
moving forward through to the WMILT's March 24th, 2015 - Press Release, reminding everyone of the already' in place and Plan 7' Approved Procedures' ... and then a literal realization of the procedures already in place as the WMILT released an overage of 1.4 million shares this summer' ...
we all watched as the planned distribution mechanism was realized and the releasing participants, escrow marker holders', were issued their portion of additional WMIH shares' per 41.6'
Their were many, many more WMIH accomplishments happen this last year, from the mandates to be accomplished by 07/05/2012 ... through to the updating of the company site' and acknowledgement of WMIIC'
Here for everyone's review', ... follow the literal text as provided' ... with the tremendous amount of illiquid assets, earmarked to finally be returned, as the R-203 reports' ... it is obvious the WMILT in it's current status' ...
WILL NOT BE IN A POSITION TO; ~ "monetize Liquidating Trust Assets in amounts sufficient to pay-in-full claims held by beneficiaries of the Trust who are senior to members of Classes 19 and 22," ... CURRENT LTI HOLDERS'
So, as I said earlier ? a current holder of an issued LTI becomes restricted' to what the LT is able to monetize' ...
The WMI Liquidating Trust which owns the asset value of WMIIC will need assistance from WMIH ... again' ... a shares for value exchange' ... which takes place beyond the restrictions of an issued LTI"
The following is the literal and unchanged or modified actual text'
"The Trust will issue Liquidating Trust Interests to WMI's former shareholders if the Trust is able to monetize Liquidating Trust Assets in amounts sufficient to pay-in-full claims held by beneficiaries of the Trust who are senior to members of Classes 19 and 22, and if a shareholder satisfied all conditions applicable to receiving any such Liquidating Trust Interests. There can be no assurances that the Trust will be able to monetize assets in a manner sufficient to give effect to the foregoing."
AZ
