This was my e-mail contact 1 year ago, about the share reserve distribution, with Peter Walsh,KCC :
Q: I know you are not allowed to comment on the WMI JPM FDIC CH11, so please let me ask : the Ch11 cases just closed....
--- is there a possibility, that releasers of the preferred and common class can be identified one way or the other (via...?) ......even if the WMILT wanted to delete them ?
A : The escrows will remain for the foreseeable future as per the press release.
Q : IF there should be further payments outside the CH11 : it doesn't matter if the markers exist ( DTC has our data ? )
A : The escrows were established AT DTC and are maintained BY DTC, so it matters that they are ACTIVE.
Q : Is the tax form for EU citizens submitted with the releases in the USA in 2012 still valid ?
A : Just ensure that your broker has your up to date tax information........
.....the escrows are held by your custodians and any potential future distributions to the escrows would flow directly to the custodians holding such positions on your behalf. No updated brokerage information is required.
To the extent you had enough old shares to receive any COOP shares that were recently distributed, the shares would have flowed from the European depository to any bank/broker that was holding escrow positions.
To be clear, because of the small number of COOP shares being allocated from the Trust in this final distribution, only former holders of WAMU common stock with at least 13,435 old common shares were allocated 1 new share of COOP.
Also, KCC nor the Trust has any authority over how banks and brokerage firms account for distributed shares or the householding of escrow positions.
As per the press release, the escrow positions are to be maintained for the foreseeable future and such CUSIPs have not been cancelled.
However, as the release states, “As previously disclosed, however, former positions represented by such Escrow Markers or Escrow CUSIPs are not entitled to receive any distributions under the terms of the Plan and they do not, in and of themselves,
represent an entitlement to any possible future distributions from the Trust, Reorganized WMI or the Federal Deposit Insurance Corporation (either in its corporate capacity or as the receiver for Washington Mutual Bank),
AS THE CASE MAY BE....
Thank you
Peter Walsh, Senior Managing Consultant, Public Securities, KCC
Again, 1 year old, but I think, AZ is right.
Even if the escrows are eliminated IN DEPOT and SINCE the WMILT, there will still be a DTC registration. Rosen argued (for me) before Mary that there could be misunderstandings should the PLACEHOLDERS that the Trust used remain in place
( which he did not say : when it comes to payments via the escrow cusip numbers outside the Trust ).
43:10 THJMFW: "Well, why don't we leave the escrow markers in place?"
43:42 BR: "...Mr. SMITH suggests that we leave the escrow markers in place..."
44:00 BR stutters nervously ? : "...but we will...we will do that, Your Honor, we will leave the markers there....
And another post, Rich Delgado, COOP, 2018 :
"Again, the merger has NOTHING to do with any subcompanies of the
WMIH holding company, and any interest(!) in capital assets (!)
should not(!) be considered part of the FUSION
and still(!) be held
in a former sub(!),
or located at the LT
or still in safe harbor.....
I have written for years ( under Planetpaprika ) that my dateline ( not deadline ! )
is April 2021, until then we see more clearly in re releases / coop is the tell.
Seeing clearer does not necessarily mean payoff. I had however exactly 20 months ago accurately predicted today's COOP rate, own dd published in about 2000 posts on escrows, wmih, coop, ocwen, fdic, nationstar, wmilt, Logan, Smith, Kostoros, fhna, sec, mortgage sector, Calabria and the then looming servicer meltdown not so long ago.
Or for example Doreen Logan ? Along with the other 3 executives in Thackeray Holdings Corp.
David Williams, Peter Freilinger and Tim Cleary.
Thackery....something rings a bell ?
Thackery issued in 2006 and 2007, AND Thackeray III Bridge, LLC......
Incorporation Date: 11/17/2011.... shortly after POR 6 was done and plan 7 came in.
I will be posting something about Nationstar here soon,
which no one seems to have known yet.
I am limited to 3 posts, so I can't really communicate yet.
By the way : happy owner of xxxx coop, xxx p, xxx.xxx common escrow.
Thank you all for the kind reception and good luck to all of us releasers/coop`ers.
AI
