there is a common misconception held by this board as to why THMJW shut down Justin Nelson when he was deposing Kosturos about hidden assets that might have been hidden form shareholders...the simple answer was that Justin was on a fishing expedition, and fishing in the wrong lake.... let me explain:.... Kosturos was not an officer of WMI, but was hired as a restructuring agent to bring WMI out of chapter 11, and as such had no duty, or obligation to discuss the financial affairs of a company under attorney client privilege...such Financial matters could only be discussed by the Chief Financial Officer of WMI...Justin should have called in Doreen Logan who was a financial officer, or perhaps Kerry Killinger who was the CEO about hidden off balance sheet Trusts, if any.... Justin did not, nor did Susman call them as witnesses...so, many thought that Kosturos was hiding behind the "corporate veil", when in fact he had no duty or responsibility to discuss Financial matters, and was confined to discuss only financial matters concerned with the bankruptcy reorganization....
in regards to newflows challenge to discuss elements of the WMIL-T, it is obvious that he DID NOT READ THE WMIH 2013 10-K THAT I POSTED MANY TIMES..., so a discussion with him is useless when he cannot refer to the official declarations by independent auditors, and submitted to the SEC....I will give him a hint to ponder :
WMMRC had 7 trusts that were LIQUIDATED , and the funds placed in the WMIL-T for disbursements to Creditors... A/M made payments to vendor claims, expert witnesses, and creditors... in addition, the time extensions to pay creditors was extended as some could not be located, and were given time limits to make the payments to these claims.. all claims were processed and this TOOK YEARS TO DO, and the chapter 11 could not close until every single legal claim was precessed... so, final payments could not go forward as well as amounts of money until AM LIQUIDATED THE TRUSTS WHICH TOOK YEARS....read the 2013 10-K newflow as it say, not in what you want to believe... there is nothing sinister going on here... if there was, smarter people than you would have found the fraud and sued... SO FAR NO ONE HAS QUESTIONED THE CLOSURE OF THE CHAPTER 11, EXCEPT YOU!!!!!!!!!!!!....Lodas
for the record, I am only alloted 3 posts per day now after being sanctioned by the IHUB board...
