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The equity interest in WMB went to COOP.

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JusticeWillWin   Friday, 11/15/19 10:58:58 AM
Re: mordicai post# 596543
Post # of 639878 
The equity interest in WMB went to COOP. Abandoned property (in this case the stock in WMB = Washington Mutual Bank) can be reclaimed at any time as far as I know.

So it is within the possibilities that COOP could reap the benefits of the LIBOR litigation (on behalf of WMB) IMO

COOP then would lose the NOLs, but of course it would be better to have some billions in cash instead of some NOLs...

Quote:
The FDIC Libor litigation is still ongoing. FDIC is suing for $400 billion on behalf of 38 failed institutions of which WMB was the largest. The suits were filed in New York and London. The libor claim mentioned in the 350 motion is unrelated to the FDIC litigation. See https://www.isdafixantitrustsettlement.com/

Since WMB stock was never transferred to the LT and was abandoned before the effective date of the POR to the FDIC, the question remains--- Does Coop reap the benefits of the FDIC Libor litigation after all other creditors in the receivership are paid?




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- Just my personal opinion, no investment advice! -
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