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Re: ReikoBlack post# 708276

Thursday, 04/13/2023 7:36:13 PM

Thursday, April 13, 2023 7:36:13 PM

Post# of 735864
Pleasure to you too Reiko. "CONTESTED $20 B IN ASSETS"- FDIC
"Bankruptcy Case
After WMI filed the Bankruptcy Case, WMI, JPMC, the FDIC in its corporate capacity (“FDIC-C”), and the Receiver became involved in several lawsuits contesting the ownership of over $20 billion in assets.

The parties reached a settlement in the Bankruptcy Case that was approved by the FDIC's Board of Directors on May 20, 2010, and WMI filed a plan of reorganization incorporating the terms of the settlement ("WMI Bankruptcy Settlement"). Several parties objected to WMI's proposed plan, in particular, WMI's proposal to release its claims against JPMC, FDIC-C, and the Receiver. At the request of WMI's equity holders, the Bankruptcy Court appointed an examiner to thoroughly investigate WMI's claims against JPMC, FDIC-C, and the Receiver, and determine whether the proposed settlement (which would release these claims) was fair and equitable to WMI. The examiner found that the WMI Bankruptcy Settlement was a fair resolution.
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https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu-settlement.html
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$30 B + - Mr.Folse
"Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road
.
"
---------------------------
JULY 2010 Mr.Rosen in court
Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets
other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
But I understand
22 that the equity committee is very interested in having a
23 neutral third party do an investigation of those retained
24 assets.
---------------------------------
QUESTION IS "DID THEY CARRY THROUGH"?
2018 and 2019 10-K
"Subject to certain limited exceptions, the Liquidating Trust Interests are not transferable or assignable.

LTIs are not transferable or assignable except by will, intestate succession or operation of law. Accordingly, there is no liquid trading market in the LTIs. Under certain circumstances, transfers of LTIs have been permitted upon the winding up or dissolution of vehicles that previously held LTIs on behalf of such vehicles or the beneficiaries thereof. There can be no assurance that the Trust will consent to any such transfers in the future.
2018
https://www.sec.gov/Archives/edgar/data/1545078/000119312518097841/d503450d10k.htm
2019
https://www.sec.gov/Archives/edgar/data/1545078/000119312519092649/d658548d10k.htm
No earlier 10Ks had this language.

NOW PLEASURE IS ALL YOURS AND LODAS.ENJOY.
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