~ John, Wells Fargo Bank, Would Have Been (past tense) The WMI Cap Trusts “Property Trustee” ~
... Wells Fargo Bank, as the designated Property Trustee / Indentured Trustee, became involved and necessary when the WMIIC / WMI Bankruptcy’s were filed back on 09/26/2008’ ...
... The WMI Capital Trusts Liquidation Preference was activated simultaneously to the bankruptcy filings ...
... now, due to the fact that “Point 2” of the Liquidation Preference was to make sure that the Property Trustee (Wells Fargo Bank), ... was financially fulfilled within any outstanding fees, expenses, or claims ? ... it was Wells Fargo Banks responsibility to settle these matters with the WMI-LT’s Trustee (Kosturos), ... prior to the WMI-LT’s ability to Close Down as the Cases were in the process of termination ... now, completed (terminated), as 01/23/2020 ...
Now, ... Here are the relevant Cap Trusts Liquidation Preference once again, ... Point 1’, All Creditors were to be paid properly ... Point 2’, Any expense incurred by the designated Property Trustee were to then be paid, ... Point 3’, interest generated during the necessary legal process IS’ to be paid to “Stockholders” (original surviving common share owners), once the controlling legal process was completed (in this instance, the bankruptcy’s) ...
now stick with me’ ... the functionality of the securitization support of the Cap Trust continues ... so the original parent corp., ... after a Courts approval of a completed reorganization ... comes back into the picture, because the company, still needs all of the securitization to continue to be serviced ...
... the Property Trustees (Wells Fargo) duties should now have come to a close, while the original Trustee, continues to manage the securitizations ... as the Capital Trust completes its Liquidation ...
... So, ... this is where our true and actual “corporate structure“ comes into context, ... read the following snippet from our own SEC Corporate Structure submission ...
“WMIH is a corporation duly organized and existing under the laws of the State of Delaware since May 11, 2015. WMIH is the direct parent of Nationstar and WMMRC”.
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