~ Hello XOOM, Yes The $119 million, "Specified" "Buy Back" of KKR' Shares' by "WMIH" / ("COOP"), Was Definitely Very "Unusual" ~
Well, my opinion is that the Article VIII Allowances were being abused and the share count needed to be put back into proper alignment, ahead of an upcoming "COOP" event' ... But ?, that's my opinion ...
I'm working on a different issue this week-end' ... the "CASH" ... which would be distributed by the DTC', via the ESC Cusips ...
per 41.6', a release to "participate" in Judge Walrath's Plan for WMI's Reorganization, issued "2" relevant recovery items to a participant' ... the 1st of course were the shares in the reorganized new company, ... WMIHC' ... but more significant, were the issuing of the DTC's ESC Cusips', the 2nd' item received for a properly submitted release' ...
Now, the DTC Issued ESC Cusips', as a counting mechanism, portraying ones original ownership' and Plan's Participation', can be used for a multitude of function' ... obviously, the "wmi-lt" never issued them, so all of the nonsense regarding the flip language' that they would disappear with the "wmi-lt's" completion is ?, or at least should be, "out the window" ... in the same fashion as all of the 75/25 to the end', ... waiting for an LTI' which was obviously never coming', ... and the losing litigation delay's and the litigation' delay's support' ... now ?, all 100% meaningless' ... as I have posted for years' ...
So, 1st, where's the money ? ... and 2nd, why haven't the returns to an original releasing owner begun ? ... "COOP"'s share structure and its Accounting' and Corporate Structure compliance will be completed in proper fashion' ... and in my opinion, a separate issue' ...
So, Again where is the Money' ... ? ... Interest Generation, being accumulated does not simply disappear' ... right ? ... so, I may have ?, found the answer' ...
Moving forward, ... yes, the Process has been a long one, However', ... I am concluding that each step has needed to be fulfilled and completed', ... and', the ending needed was the completion of the "wmi-lt" which per the Judge Walrath Court Order, ... was finalized on 03/19/2021' ...
Here is what I have uncovered so far', placed extremely deep within the documents' ... (unbelievable deep, on purpose) ...
When WMI The "Holding Company" Reorganized, ... 6' Tranches of possible creditor and claimant recovery possibility's were originally established' ... 1 = Senior Debt, 2 = Subordinated Debt, 3 = CCB's, 4 = "piers" (capped and paid with WMI's Cash', that's important) 5 = class 18 outstanding claimant' clean up ... and 6 = the releasing participants' ...
So, those were the "Tranches" ... however', what was also set up ?, were what "they" refer to as "sub-tranches" ... and the "sub-tranches" use, was to account for the continuing interest returns' ...
Basically, ... WE' ... Needed for the "wmi-lt" to CLOSE' ... which again, happened on 03/19/2021 ...
So, with the Court Ordered WMI Plan of Reorganization Implemented' 03/19/2012 ...
and, with the Court Ordered WMI Bankruptcy's Officially Closed 12/20/2019 ...
and now, ... with the Court Ordered "wmi-lt" now "Closed" on 03/19/2021 ...
Couple that with the unusual special KKR share' buy back, ... and, ... I believe WE' are moving forward, ... as WMIH ("COOP") will correct the use of the Predecessor / Successor Accounting, and the Entire Company, the Asset Values', of "WMIH and its Subsidiaries" will be realized as a proper "Corporate Structure" ... as the "sub-tranches' that were originally established to maintain and account for the interest returns, are able to ?, and will begin to, release to the original releasing owners' ...
Have A Wonderful Holiday ... "He Is Risen" ...
AZ
