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Alias Born | 12/28/2008 |
Monday, March 19, 2018 9:09:57 AM
we are equity
we do not hold a creditor claim of any sort against anyone
such a claim is what a holder of debt or a contractor of services or even possibly an employee shorted on pay holds ---- a claim
yet - that is not a problem
we owned Washington Mutual Holding Company - we are the equity - and we own what is left of Washington Mutual Holding Company after all claims are paid .....
99% or whatever of claims (bond holders) were paid off the top -- then as it got to the small stuff - an LT was created to distribute whatever was left of Washington Mutual Holding Company
WMIH was not that entity - it was the successor company (in essence starting from fresh)
Summary
WaMu emptied to near zero value by creditor claims (all this talk of 100s of Billions is vapor - nonsense - never was that high in NET amount and the bondholders go it all (99% or more)
Some of WaMu - see WMILT site for assets and liabilities and POTENTIAL LIABILITIES - went to LT. LT is to finish dealing with small disputes and small assets here and there or potential assets if litigation was won. (And yes - LT gets anything found owned by WaMu not in the pocket of JPM or others)
WMIH is the successor company
Recent COOP News
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