Friday, December 04, 2015 12:33:12 PM
This is not being presented correctly ... WMIH-Corp was not a party to the bankruptcy process, ... WMIH-Corp was the creation of the Plan of Reorganization ... this fact, should not be missed ...
The plans documentation does NOT address the debt WMIH continues to owe currently, to the Original Debtors Estate' now being represented by the WMILT, which again can only be considered, post Plan' implementation Mar 19, 2012, as again, WMIH-Corp, was not an actual party to the BK' ...
The disclosure statement says the obligations "which, pursuant to Section 32.2 of the Seventh Amended Plan, will be extinguished, unless otherwise agreed." Obviously the "otherwise agreed" was invoked because the LT's website (which everyone can and should visit for them self) states that the LT owns the "Intercompany Claims".
http://www.kccllc.net/documents/8817600/8817600140501000000000003.pdf (p. 2, Section 2(e).
The LT is speaking in the present tense; as it should regarding the issue between WMIH and WMILT'
it now owns whatever intercompany obligations WMIIC held during its Chapter 11 case and WMIIC (the corporate entity) is owned by WMIH. Further, if WMIH consolidates with WMIIC the intercompany obligations won't be extinguished because they're not included in WMIIC's assets.
AZ
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