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Wednesday, January 15, 2020 6:02:09 AM
https://www.sec.gov/Archives/edgar/data/1545078/000119312520005481/d866835dex991.htm
After giving effect to the Distribution, the Trust intends to file with the Securities and Exchange Commission (the “SEC”) a Form 15 Certification and Notice of Termination of Registration Under Section 12(g) of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports Under Sections 13 and 15(d) of the Securities Exchange Act of 1934, as amended (the “Form 15”).
Subsequent to filing the Form 15, the Trust will no longer file or furnish any reports or other documents with the SEC pursuant to the SEC’s EDGAR system, and thereafter will no longer make any disclosures with regard to its limited operations. Relatedly, because Judge Walrath granted the Trust’s application to close the Chapter 11 cases, the Trust is no longer required to file any quarterly or other informational reports with the Bankruptcy Court.
As a result, going forward, the Trust will no longer file any “Quarterly Summary Reports” (or other information) with the Bankruptcy Court and the Trust will no longer file with, or furnish to, the SEC any such reports under Form 8-K.
I still view (the (DSTs) Delaware Statutory Trusts will be a vehicle for timely (by 3/2012) signed releasors to receive monies via the DTC then on to Brokers
1) Actions happen post BK closure-Now closed, signed and filed by Judge Walrath on 12/20/2019
2) After BK closure the Administrative Hold will be released allowing exciting actions to take place
3) Then I see Marker Holders getting a Preferred Offering and commons issued at some point after New Year 2020
4) Distributions starting from (DSTs) Delaware Statutory Trusts routed through DTC/Clearstream then to your Broker
5) There will probably be two to four annual distributions to Marker Holders set up for a ten year period of time
6) Notice the highlighted pieces below in the confidential filing
7) Do not forget about the 10-year runoff mode of WMMRC ended 3/2019
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
CONFIDENTIAL ANNEX C-I
Form of Solvency Certificate
Reference is made to Credit Agreement, dated as of [•] (the “Credit Agreement”), among [•] (the “Borrower”), the lending institutions from time to time parties thereto (the “Lenders”), and [•], as Administrative Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. This certificate is furnished pursuant to Section [•] of the Credit Agreement.
Solely in my capacity as a financial executive officer of WMIH and not individually (and without personal liability), I hereby certify, that as of the date hereof, after giving effect to the consummation of the transactions in connection with the Bridge Facility:
1. The sum of the liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present assets of WMIH and its restricted subsidiaries, on a consolidated basis.
2. The fair value of the property of WMIH and its restricted subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities) of WMIH and its restricted subsidiaries, on a consolidated basis.
3. The capital of WMIH and its restricted subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof.
4. WMIH and its restricted subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).
For purposes of this Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that would reasonably be expected to become an actual or matured liability.
IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above.
***The Infamous Footnote Number 39***
In light of Footnote 39:
"FINAL REPORT OF THE EXAMINER
JOSHUA R. HOCHBERG
Court Appointed Examiner
Footnote 39
Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB?s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
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