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PickStocks........why would KKR institute an execution to pay

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lodas   Saturday, 07/24/21 04:40:06 PM
Re: PickStocks post# 664130
Post # of 673548 
PickStocks........why would KKR institute an execution to pay off equity claimants, when they are in front of them in the "waterfall" ?...the 600 M l loan given to Wmih to get the Nationastar acquisition does this..if you read Bond-007 post, it says before the 600million loan by KKr, Wmih had 28.9 million dollars in cash, and a consolidated balance sheet of all assets of 614 million (A-L) as of Dec 31 2017....WMIH was in no position monetarily to make the Nation Star acquisition without outside financing...the consolidated filing was for ALL ASSETS HELD BY WMIH , including the moneys held in Trust... if you go on to read, there are pages of risks associated with Wmih seeking an acquisition, they even stipulated that a bankruptcy filing could take place, and spells out KKR's position, if there was a bk filing from Wmih....now, with 2 seats on coops BOD, why would KKR o.k. the release of funds to equity claims ahead of themselves, especially before they were paid in full, with interest?...IMO, equity claims will be paid, (if any), when KKR is out of the picture and gives up those 2 seats on the BOD...Lodas



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