This is normal practice, the filed under a registrant so they can delay the process of distributions until they have completed the gifting, selling buyback and profiting. The sec does allow for the creative accounting. The bk is complete, the p’s are tied to a sub along with coop under the umbrella of wmih. It is great that the numbers start floating around again....yet no one knows if they are real or not. Still fact is, there are also two issues for equity. The capital trust and managed sub for p’s.
Again bk is closed, lt is done and gone. What AZ does not say is who is following the P’s to be distributed or the Por 7. Lead arrangers who are people picked by coop at random. June date move the field goals again because nothing will happen.
The only thing we know is
Bk closed 12.2019
LT is done and out 3/2021
Ownership change complete 2/2021
New one 8/2021 maybe. Catch has to happen, maybe.
The numbers can be whatever they maybe, but for now they are zero and that does not make it fine!
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