~ LP, Irrelevant of WMI’, The “Automatic Stay Function” IS Delaware Bankruptcy Procedure ~
... It has been my own error that I have taken for granted, that everyone involved in WaMu as an investor, simply understood a few of these basic fundamentals ... or, at a minimum took the time to read my presentations after all of these years in my own effort to help everyone’ that got caught up ... again, the Reorg and the Two WMI Related BK’s are truly separate events ...
... Along with numerous relevant financial topics beginning in latter 2012’, post the WMI Reorg, I’ve presented ABS-Cert Trust Performance Break Downs, ... segregated loan servicing issues, the “First Day Filings”, etc., ... then I originally broke down the First BK Filing of WMIIC, Filed @ 10:15 pm on 09/26/2008, just one minute ahead of WMI’s 10:16 Filing ... way, way, back in 2015’ ... again I took for granted that the legal separation between the WMI reorganization and the WMIIC / WMI bankruptcy’s, would be basic common knowledge ... ? ... after all, the BK’s continued and the reorganization was implemented ... right ?
subsequently, I also believed the relevant information regarding the performance of the Class Segregated ABS-Certs would be welcomed by releasing participants ... along with the differences between a WMI Financial Product Accredited Investor and a Secondary Market purchaser, ... just to name a few things ...
The Delaware Bankruptcy Mandated Automatic Stay, placed upon the WMIIC / WMI property on 09/26/2008 @ 10:15pm and 10:16pm respectively, (not able to be legally seized, and unable to legally be seized, non WMB banking subs, and their property as well) ... remains active and intact to the present tense’ ...
Regarding your question, ... it is In my opinion, the WMI-LT is truly specific to form, and to date, ... the WMI-LT has performed its designated function of paying WMI’s Plan 7 Approved Creditors (Tranche 1 through Tranche 4) ... slowly, delayed, and unnecessarily blocked, ever since 2009’, ... YES’ and documented’, ... but ? the plans creditors have all now been paid just the same ... again, now as of 02/25/2019 ...
It is my conclusion and opinion that ... IF ? ... bankruptcy remote assets, originally “Stayed” are to begin to be released ... that the bankruptcy’s ... Both of them’, ... Both, the WMIIC and the WMI Filings ... will need to be closed ...
Regarding the WMI-LT ? ... I maintain that only QSR Reported Cash and or assets, ARE ABLE to be returned at the misunderstood 75/25 ratios’ ... Otherwise ? ALL Returns are Class and Tracking Marker Specified, ... and the WMI-LT, as it completes its own business, post the bankruptcy case closures, will be used as a “Delaware Registered Grantor Trust = A Pass-Through Mechanism ... until the WMI-LT itself, is ultimately dissolved ...
Again, ... the BK cases can now be closed, once anything of concern in class 18’ has been addressed ... (from Docket # 12499’ per, “B Rosen, “shortly thereafter the cases will be closed”) ... and as the WMI-LT winds things up, ... No additional LTI’s will be Issued, and only it’s remains will be RE-Distributed at the 75/25 ratios ...
I hope I answered your questions or concerns ...
AZ
