~ The WMI ESC Cusips; An Updated Description ~
Hopefully, This will be helpful, once a consideration regarding the ending and financial completion' of the WMI-LT, becomes a reality' to everyone, ... as well as the current SEC Filed "COOP" Corporate Structure, with the reorganized WMI, currently transitioned into WMIH-Corp, as the Current Parent Corp., and merely a name changed to, (the)*Mr Cooper Group as the "Registrant" trading as symbol "COOP" ...
... this just released by another Plan', This is an honest reference to those very same WMI DTC Issued ESC Cusips, that the WMI-LT COULD NOT Cancel ... I'll adjust simply, as related to us' ... While the WMI-LT is now done, Your WMI ESC Cusips, issued for your release submitted remain, Here Is Why'
* ISIN/CUSIP – Is a Reference to a particular security if a claim is based on a security.
* What is an escrow CUSIP ? A CUSIP number is a unique identifier assigned to a particular security. An escrow CUSIP is a placeholder representing the amount of shares held by the former holders of equity interests or the principal amount held by former holders of notes. An escrow CUSIP is not an “official” security designation, and it is created solely for record-keeping purposes. The escrow CUSIP number shall only represent the right of such holder to receive potential future distributions under the Plan on account of the old or cancelled securities.
* Do I receive any evidence of this interest ? No. The interests in the Plan are not certificated. The evidence is in the form of the escrow CUSIP position that will correspond to the number of old shares held as of the Effective Date.
* Will it show up on my brokerage statement ? This depends on the firm, but generally the answer is yes, under an escrow CUSIP position that will mirror the number of old shares held as of the Effective Date.
* Can I trade them ? No. The beneficial interests in the Plan are non-transferable. The continuing rights of holders of Equity Interests (including through their interest in the Plan Stock or otherwise) shall be nontransferable except by will or under the laws of descent and distribution.
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As I have posted now for years, ... Your ESC Cusips were issued by the DTC on March 20th, 2012, one day after the WMI Plan Implementation' on the 19th ...
There is no more financially relevant WMI-LT, so there is no ratio of distributions to be considered', ... ESC Cusips have segregated number assignments, specific to the Class released' and ones ownership ...
... To say they are worthless, is not accurate' ... to say they are not connected to the reorganized WMI, WMIH-Corp, is not accurate'
~ Know What You Own ~
AZ
