All the participation interest income from any of these trusts are being held in custody by the designated servicing trustee like Deutche Bank, USBANk, La Salle, etc...... until it is time to release it to the appropriate bankruptcy tranche of legacy WMI who released.
Until bankruptcy claims are nil, then it is not time. According to the latest filing, Rosen states the WMI Motion against the employee claimants, is the final claim......and that upon Judge Walrath's presumed approval, by Nov. 6, Rosen stated he will delete the claims record and close the bankruptcies (2).
All of these interest income deposits, since Sept 2008, generated from hundreds of bankruptcy remote trusts, has been on administrative hold due to lawful safe harbor, triggered by bankruptcy and receivership. Safe Harbor is, OFF-Balance Sheet. Hidden in plain view.
When Judge Walrath finally squashes the final claim with her signature, barring any appeal from the employee claimants against the WMI estate (as Rosen confirmed), then PIERS finally get paid out. The only bankruptcy tranches left after Piers............ are Preferred and Common who released.
Everything thus far, as was designed, was being paid out of WMI cash on hand all the way down through the Piers (as the WMILT declared, and as filed "certain assets")..
When Piers are paid out of the final LT leftovers, the only Tranche left to 'claim' the legacy 'WAMU' estate leftovers going forward upon the impending release of (bankruptcy triggered) safe harbor (participation income for example), is legacy Preferred and Common who released.
