Great information! Question: I've been wondering how in the world is the debtor/WMIH going to make the appropriate cash/stock credits to each Class as designed, without letting the cat out of the bag?......Considering the obfuscation and misdirection for 10 years, it seems like they cant just say "oooops, there it is". ? OR can they? .......as if it Turns out we are getting a bunch of stuff back and we had no official idea about it ? I'd bet they are going to be business as usual and disguise it. So what might they be attempting here in the coming months?
What are your thoughts? I'm thinking that maybe one or more of these WAND merger subs might be the vessels holding different classes returns. ie, one WAND might represent Class 22 trusts/holdings. And another WAND might represent Class 19 trusts/holdings, and so on...... And we'd observe that WMIH might be in a hurry to complete the merger of NSM, and the WAND merger subs during one reporting period, so that 'cash in = cash out' for a zero balance, non reportable event. IE, if $1m passes in and then out of my account (hint 1031 exchange), my balance is still zero to report.
So in the case of legacy Commons (Uq), could they give us WMIH shares/cash directly through a WAND merger sub holding legacy Class 22 assets, which is soon-to-be wholly owned by WMIH, becoming the exchange vehicle for CASH/STOCK - and where WMIH gains control of it in exchange for WMIH shares of itself?
It seems magic WAND merger subs, could be perfect cover for segregating and keeping quiet the return of legacy WMI assets.
WAND merger subs dont report yet..............and once in receipt of assets they are blended/folded into WMIH in exchange for stock on illiquid assets, and the liquid CASH passes thru to legacy who released without mention (cash in + cash out within a reportable quarter, to legacy = 0 nothing happened on the books). Whatever WAND did hold, is either value for value in stock, and the CASH is balanced out to zero thru 1031 exchange and distribution to legacy who released with regard to each WAND's particular prospectus. Basically each WAND becomes one one-off use legacy exchange vehicle and then disappears simultaneously through the NSM merger news. And of course WMIH has to be the surviving entity, as it is the one granting stock for the legacy assets being returned.
Apologies for these messy thoughts, I haven't had time to make this more succinct. I appreciate your input.
