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Tuesday, April 03, 2018 6:19:48 PM
WMILT 10K filed on 3-27-2018 P4:
The Liquidating Trust Assets consisted of all of the assets of the Debtors as of the Effective Date (for a current description of the assets,
see Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included herein), other
than:
• assets distributed to JPMC pursuant to that certain Second Amended and Restated Settlement Agreement, dated February 7,
2011, by and among the Debtors, the FDIC, JPMC, and the other parties thereto (the “Global Settlement Agreement” or
“GSA”);
• WMI’s equity interests in (i) Investment (all the assets of which were contributed to the Trust or were transferred to JPMC
pursuant to the Global Settlement Agreement), (ii) WM Mortgage Reinsurance Company, Inc. (“WMMRC”), a whollyowned
subsidiary of Reorganized WMI, and (iii) WMB (substantially all of whose assets were sold to JPMC on
September 25, 2008, pursuant to the Purchase and Assumption Agreement, and whose stock was abandoned by WMI shortly
before the Effective Date);
On the effective date, 3-19-2012, certain assets of the debtors was transferred to WMILT which consisted of 8 bullet point items.
I am copying the above most essential point for your interpretation.
LTA consisted of all assets of debtors, other than:
WMI's equity interests in
(i) Investment
(ii) WMMRC
(iii)WMB
One of the interpretation is that WMI gave up the equity interests of WMIIC which owned the income stream in participation interests of SPE Trusts. They will not be returned to WMILT for distribution to the final estate owners, but will be owned by WMIH.
Please comment.
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