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Post# of 727147
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JusticeWillWin

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JusticeWillWin

Re: hotmeat post# 549703

Thursday, 12/06/2018 4:06:23 AM

Thursday, December 06, 2018 4:06:23 AM

Post# of 727147
Because the PIERS were not allowed to receive more than they were owed and it was clear from the beginning that the WMILT would have enough money to satisfy their claim (plus interest) IMO

The PIERS did not "own" the WMCT2001. As shown in my previous post, WMI held 100% of the common securities in the WMCT2001. So if there is enough money (from other sources) to pay the PIERS holders there would be no need "to keep the WMCT2001" (which wouldn't be possible anyhow because it is an independent entity/trust and not a sub of WMI) with the WMILT. It doesn't matter from which money the PIERS holders will be paid...

Just my opinion

In other words you believe the common shares of WMCT, meaning any remaining asset value wholly owned by WMI was transferred to WMIH (COOP)...correct?

If yes, why would the LT retain the Piers Creditor debt which was backed by WMCT's assets and allow WMIH to receive those assets free and clear. That makes no sense IMO.

 

  
 --------------------------------------------------------- 
 -    Just my personal opinion, no investment advice!    - 
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