~ Here, at Least, WMIH-Corp & WMI-LT Are Still Being Discussed ~
... Everywhere else, it appears that everything else except' the WMI-LT' and the new company, WMIH-Corp are being discussed' ...
The reorganized "debtor, WMI" and "debtor in possession, WMIIC" were initially and always expected to, and planned to, exit into reorganization as a private company' ... this was Plan 6' ... Plan 6 had TWO submissions to the Court, the first attempt was amended and the second attempt failed' ... Plan 6's plans for its own (failed) "rights offering", and plans for a "liquidating trust" describe and reveal what was planned for' ...
... The initial (failed) attempts for a Plan 6' confirmation leading to an attempted reorganization, ... only' considered the WMI' Creditor Classes' ... and had NO' accommodation for the WMB Bond Holders' or the Equity Class Estate Owners' ... 6' was supposed to end at the hybrid security, class 16' Piers Claimants ... the WMB Bonds, were left out and supposed to be the FDIC / JPM (s) problem, and any Equity Class participation was never considered to be included' ...
So, now here we' are, over four years passed since the March 2012' reorganization, and WMIH-Corp, in my opinion continues to act as if it exited bankruptcy protection into reorganization, as a private entity' ... initially, not even acknowledging its open trading on the OTC market' ... the list is extensive' ...
knowing how we' got here, ... is important, to understand how to weather this ... four plus long years, is a very long time to keep investors involved without any substantive forward moving information, ... other than the one failure reported last October' (link provided yesterday) ...
However, regarding the Estate's illiquid assets, the cumulative cash, and the financials involved ? nothing has changed'
ADDED from the WMIH-Corp site' ... "WMIH emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc."
... everyone waits together' ...
AZ
