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Sunday, January 21, 2018 2:30:53 PM
• This created the actual Material Event which then has 4 business days to be filed
• The Material Event may have to do with tax deferment, creating a pathway for assets to move and/or other
• We had several filings on 12/8/2017 with one having to do with a 1031 Exchange event
• Possibly an 8K is filed between 1/22 & 1/24 of year 2018 discussing the Material Event triggered by the dissolving of WMIIC on 1/18/2018
• The filing on 1/18/2018 on the surface is not a Material Event but yet WMIH not only PR’d this event they also put an 8K filing out later on 1/18/2018
• So if this is not a Material Event, then why PR this and 8K it UNLESS the dissolving of WMIIC actually created the Material Event yet to be seen
• I will highlight below in red what I think are some highlights to this PR and 8K filing
On January 18, 2018, WMIH Corp. (the “Company”) announced that it has completed the dissolution of its wholly-owned subsidiary WMI Investment Corp. (“WMIIC”). Earlier today, WMIIC filed a Certificate of Dissolution of WMIIC with the Office of the Delaware Secretary of State. The dissolution of WMIIC was effective immediately upon the filing of such certificate.
Prior to September 26, 2008, WMIIC held a variety of securities and investments; however, such securities and investments were liquidated and the value thereof distributed in connection with implementing the Company’s Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code. As such, WMIIC did not have any assets or operations at the time of its dissolution.
A copy of the press release issued by the Company on January 18, 2018 announcing the dissolution of WMIIC is filed herewith as Exhibit 99.1 and incorporated herein by reference.
https://www.sec.gov/Archives/edgar/data/933136/000156459018000606/0001564590-18-000606-index.htm
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