My View: 75/25 To Very End - NO CAP FOR ALL FORMER PREFERRED SHARES NOW CONSIDERED EQUITY BY LIFTING APR, DB/JPM/FDIC CA Case, WMIH-Corp, WMILT, Piers, Escrow Shares, NewCo/WMIH Shares ALL Tied Together at the Hip
Tied ALL Together – My Expectations Due Important Dates – WMIH-Corp 8K Filing Near
Let us look at the following and once one sets emotions aside then looks at the facts only; then one can see much more clearly that the “beginning of the end” will start in calendar year 2017 possibly between now and the first week of June/2017.
1. The parties await further developments in the trustee instruction proceeding. The Petition hearing remains on the court’s schedule for May 9, 2017 at 9:00 a.m. Found in number 6.
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The "instruction proceeding" (above) relates to the case in the Superior Court of the State of California, County of Orange, Probate Division (“court”). (Case No. 30-2016-00892014-PR-TR-CJC)
* USCA-Case-15-5322Doc1642159-Filed2017-0413.pdf
2. I view the California case as a required rubber stamp that may happen (could be before) on May 8/9, 2017 before WMIH-Corp can move forward as in my view JPM is set to receive 650 million within ten days of the rubber stamp and nothing will move forward until JPM gets their money
3. On Thursday or Friday, the 27/28 April, 2017 we will see if the last payment will be made to Piers which is around 49 million or so on the scheduled May 01, 2017 distribution date. If Piers are not paid off in full with LTIs issued to Equity, then I do NOT see WMIH-Corp moving forward until third or fourth quarter year 2017
4. If Piers (Piers are part equity/part creditor in tranche 4) are paid off if full, I expect we will see many actions happen simultaneous (or within 4 business days) to this event including LTIs issued to Equity Escrow Holders. While Piers are legally separated, I believe many actions will happen very close together
5. June 01, 2017 two Board members resign in total while one of KKR’s key Executives will take control of WMIH-Corp moving forward while Gallagher & Fairfield remain with Thomas Fairfield being President and COO. These two Executives are distressed debt experts
6. June 01, 2017 is WMIH-Corp annual shareholder’s meeting
7. As long as a Qualified Acquisition (QA) is accomplished (minimum of 450 million dollar purchase) by year end 2017 resigning board member Gene Davis, Fairfield & Gallagher and others will receive their vested shares and you can bet they will get them in my view
8. Mid Jan/2018 the 600 million dollar preferred B offering needs to be extended, fully returned to investors and/or replaced with other funding
9. For the aforementioned reasons and facts, I look forward to positive events happening between now and the first part of June/2017 and no later than fourth quarter year 2017.
Have I told you lately how much more I really love my Escrow Shares that continues to grow immensely every single day forward?
