Next Steps = DCR Shares Distributed Then MAYBE a Preferred Offering & 50 Million COOP Shares Distributed
I do not believe ANYTHING further can happen such as Rosie releasing the DCR shares per the Judge's signed 2/1/2019 order until 60 day appeal period (best guess) for MARTA passes which will be ending the day on 4/25/2019 which is 60 days from Piers 2/25/2019 payoff date. This of course, also assuming MARTA does NOT refile. I then believe Rosie will release the 125,000 thousand PLUS COOP shares back and in accordance with previous small distributions to the Marker Holders.
I also believe when Rosie releases these shares we may also see a new Preferred offering going to the Marker holders that is relative to the original 208 million New/WMIH shares that became effective on the (ED) Effective Date of 3/19/2012 and also shares going to common equity interests as well. Remember, the breakdown and it follows.
On the ED of 3/19/2012, there were 208 million NewCo/WMIH shares and 158 million of those represent Preferred Equity Interests and 50 million of those shares represent Common Equity Interests. There was also an "Option to Exchange" into common shares at I believe a 47 to 1 ratio. I believe we will receive a Preferred Offering similar (WAMPQ) to the $1,000.00 Face Value previously with a new formula for "Option to Exchange" into common. Then 50 million COOP shares will be distributed to common equity interest holders for Servicing Rights that COOP will handle and receive beneficial value for thus dramatically increasing COOP's price per share. I also believe the marker holders beneficial former estate ownership is being held in a (DST) Delaware Statutory Trust with Kostorus as Trustee per Amended POR 7 signed by the court on 2/23/2012.
Then my assumption is we have monies that have been held on Administrative Hold with various Trustees such as DB, USBank, Bank NY Mellon and others that will need to be released and then that is also a process.
I believe it would take something from Delaware Bankruptcy Court (Trustee-WMILT?) releasing the Administrative Hold on frozen accounts to these aforementioned Trustees.
Then this would allow the monies to flow to DTC, Clearstream then on to the Mom & Pops (Marker Holders) which will happen in accordance with those investors who signed timely releases by 3/2012 and have those respective markers in their brokerage accounts.
