AZ, regarding what you said about the P's:
"That Preferred Managing Sub, became a "WMIH" Sub, and continued to be functional the entire time (trackable through 2018) ... That Very Same WMIH Preferred Managing Sub, was then used for the KKR 3% ($18,000,000.00) quarterly coupon owned for the 2015 influx of the KKR Cash', as well as the interest payments that were being paid for the Run-Off Notes, until they were completed' "
I've been pondering something about WMIH's (trading as COOP) sole use (up to this point) of the P Preferred's trust income that belongs to all who released.... for KKR and Run Off Notes.
I'd think WMIH would have to make good on what they spent that was ours. I don't see them putting CASH back into it. What do you think are the odds that our portion spent by WMIH on KKR and Run Off Notes over the past years, gets reimbursed in new COOP common shares? or new COOP Preferred bonds?
It seems for whatever reason, WMIH needed KKR to front the money it already had as collateral in the trusts? I'm guessing they could 'point to it' without touching it for use as collateral, but couldn't touch it until the BK was over and the 3rd party trustees could release the funds.
So now that the BKs are over, and WMIH spent ahead of itself over the past years regarding this collateral it couldn't touch at the time, that they will have to make it right as far as P Preffered holders who released. It just seems logical the easiest move forward in reimbursement, is new COOP common shares. If the old P Preferred trusts are nearly depleted, issuing new COOP Preferred Bonds in similar fashion as old Ps, just isn't feasible anymore.
Thanks for your time!
