While WMIIC (WMI WA) and WMI (WMI DE - now COOP)) separately reorganized in 2 separate bankruptcies (jointly administered) and eventually reincorporated by Merger in 2015, the assets and accounting of WMIIC (WMI WA) were 'eliminated upon consolidation'...meaning no longer reporting together...no longer consolidated accounting between WMI and WMIIC for the FIRST TIME EVER (in other words, legacy assets were about to start returning to WMIIC once again as Rosen mentioned would happen in court, so it was time for WMIIC to go dark --triggering elimination of consolidation accounting/reporting.)
So WMI (WMI DE - now COOP) accounts for and SEC reports on its own, separate from WMIIC (WMI WA) and its own accounting. Severed and separate.
Once consolidated reporting is severed, 'eliminated upon consolidation', then WMIIC could transfer or sell its assets to another sub entity, or maybe Parent (XXXX). Once emptied of assets, then WMIIC could be administratively dissolved to pretend there is nothing to see. It's like burrying an empty coffin, lmao. We're supposed to weep for the dead, but my point is...it isn't really dead. !!
So again, ....they, WMI (WMI DE - now trading as COOP) wave the magic Wand (Wand Merger Sub)....and as we watch the magician sleight of hand (Nationstar - Project Eclipse)....the Nationstar merger simultaneously eclipses the secretive movements of the other reorganized debtor WMIIC (WMI WA) being drained and moved/sold to another sub (eliminated upon consolidation), and whence completed, is 'administratively dissolved' ....bury the empty coffin.
So, where did the body go? ask the Parent (XXXX)
