WOW, Thanks Very Much for posting This! At least I can start to have some closure IF we do not receive any "F&R" Recoveries AFter July 31st, 2021 & BEFORE Dec 31st, 2021. At this point, I feel I would be foolish to think anything will come after Dec 31st, 2021.
To summarize from your post, The FDIC seems to be saying:
1. They do not have any more 'substantial recoveries' expected from now on and whatever meager recoveries they may have will just be going to Sr Creditors as they have to be 'made full'. Also, Receivership, due to expected litigation may go on for another 10 years!
2. Obviously, they are saying that JPMC 'got a Bulk of the Assets' of the seized WMI Holding company, as per the "P&A" Agreement. So, obviously, the "Grand Theft" was in Fact 'executed' and JPMC is just 'hiding them' and obviously will merge them into itself through an "Osmosis process", invisible to outside world.
3. At this point, they(FDIC) are not clear or are not providing any details on the 'WMI Holding Co', "In Bankruptcy" and are saying they are not involved in any way to any such "Assets" "tied up' due to the BK.
So, the only small ray of hope is due to Point #3 above. We have to hope that there are indeed Assets of erstwhile/current WMIH in "Safe Harbor" that will somehow "miraculously appear" for our Benefit, as soon as the Bankruptcy "Is Closed"... As we all know, this "BK Closure" has become the biggest "Bone of Contention" now. I sthe BK "Closed" or Not??? Is WMI-LT closed or Not??? This is "Clear as Mud", right now. Hopefully, we'll see some Clear communication from WMI-LT regarding this, in near future, and hopefully even before Jul 31, 2021 comes.
Thanks again, GLTU & GLTA!!!
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