wcheng..........Wmi was a chapter 11 restructuring plan....what does restructuring mean, in this context?....after all creditors have been paid, what is left is equity.. A-L= Equity....now the company has to move forward with what equity is left in the company...we know that they got a Bridge Loan for about 2.7 billion from banks to restart Wmih, which came out of bk11...now these equity assets come under the purview of the BOD, which represents the stockholders, which is us...the BOD has every authorization to use those assets in the furtherance of business activities of the newly emerge company.... nowhere does it say that the BOD has to declare back dividends on those MBS..have we seen any narrative that they will, or intend to do so...these assets, (technically belong to the estate in chapter 7, but such is not the case here)....Wmih is using these equity assets to promote the progress to get the newco up and running again....lets say that you were personally embroiled in a similar situation.... would you payout those assets to claimants if you were not compelled to do so in writing?... would you gratuitously give back these assets because it seems the right thing to do?....the simple answer is that WMIH has no legal obligation to return any money to escrow holders....as a matter of fact, those escrows in your account were given as markers, with no value, simply to facilitate payment in case the Liquidating Trust found assets during the lifetime of the Trust... they did not, and Rosen tried to cancel them in court, but the judge let them remain on brokerage accounts after the Wmilt is closed, officially...these escrows have no connection to Safe Harbor assets... these assets belong to WMIH, and was so stated when they abandoned the shares in WAMU...WMI abandoned the stock, but not the title to those SH assets...so here we are , waiting for a return of these assets, when they don't even belong to escrow shareholders... now, you can wish, and wait all you want, but there is NO LEGAL LANGUAGE THAT SAYS THESE ASSETS BELONG TO ESCROW HOLDERS....thats the way I see it, and my opinion only..... Lodas
disclosure: I hold 195000 common escrow
