Lets have one more try
Dear Sirs,
First, I'd like to introduce myself: I am a German citizen living in Thailand. I am owner of WAMPQ-Escrows as well as WAMUQ-Escrows, I have been following the CH11 procedure for over 11 years and now, after all this time, I have some questions for you. As a graduate computer scientist, I have learned to think logically, i.e. YES/NO, but also IF ... THEN ... ELSE... From this background I have now collected some questions here with the request to answer them briefly.
1)Basic distribution of roles
As I understand the American law in the CH11 case, there are the following basic points:
a.There are legal regulations for a CH11 case.
b.The FDIC is both the supervising and the executing agency.
c.The bankruptcy court is the legally supervising as well as the legally deciding body.
d.The bankruptcy court must follow the legal regulations, the FDIC must follow both the legal regulations and the court orders
Is this rough description correct? YES/NO (if No, what is different?)
2)In 2008 Washington Mutual Bank was finally sold to JPM by the FDIC.
Is this sale already 100% completed YES/NO at this time? (If NO, what else has to happen?)
3)In 2008, the press / JPM announced that the sales price for the WMB was 1.889 billion USD.
Can you confirm this amount as the selling price? YES/NO (If NO, what sales price was defined?)
4)Since the selling price is determined by the book value of the assets transferred to JPM according to the legal guidelines as well as the PAA:
Can you give me a URL where this list of the determination of the book value can be traced?
5)If the selling price is exactly the stated amount of USD 1.889 billion, no further distributions would be made to the former owners of WMB (ESCROW holders), the legal requirement of the bankruptcy court that the Last Distribution must take place by 23 July 2020 would be satisfied.
Is that correct? YES/NO (If No, please provide further information)
6)The purchase price of USD 1.889 billion was published by JPM / Presse very soon after the acquisition of WMB. However, this would contradict the legal regulation that the sales price must correspond to the book value, as at that time no well-founded and exact statement of the book values was available.
Can you confirm that the published sales price of USD 1.889 billion is the real sales price? YES/NO (If no, please provide further information)
7)If the real sales price is not the published sales price, there must be further distributions to the former owners of WMB (WAMUQ-Escrows).
However, this would contradict the court requirement that the Last Distribution should have been made by July 23, 2020.
Do you agree with me here? YES/NO (If no, please provide further information)
8)Since all these points mentioned above cannot work on their own, I see here only one variant that fulfills all points:
There is another institution ( I call it New WM Holding ) whose owner is defined by the shares of the WAMUQ- ESCROWs and which has received/will receive the real book value.
Since you, as the executive body, are dealing with this New WMH and you transfer the book values paid/received by JPM to it:
Does this general institution exist? YES/NO
If YES - Where is it managed?
Since I assume that the FDIC has an obligation to provide information not only to US citizens but also to all institutions/persons affected by this CH11 case, I would ask you to answer my questions promptly. Furthermore, I regard my questions as general questions that cannot be subject to confidentiality.
I hope that you and your colleagues are doing well at the moment and that the additional burden is not too great.
With kind regards
