~ Good Morning John, and Thank You', as well as to Those That Continue to be Helpful ... and Accurate' ... ~
Washington Mutual Inc's "Holding Company's", Financially Producing Subsidiaries, were NEVER allowed to be considered by the Court within the "Holding Company's" filing for Reorganization. The amounts earmarked to pay the creditors came from WMI's deposit funds held in WMB, and tax benefits. All calculated very carefully ...
Placed upon the Docket and signed off on by Judge Walrath, was a DENIAL of Masha G' and Brian' R's submission to drag the WMI Producing Subs into the Chapter 11 submission as well ... This was an attempt to control the funds that continued to be produced. ... This all happened Very Early in October of 2008' ... Again, this was thankfully DENIED by Judge Walrath ...
... So, I began to follow the SEC Separately Listed ... "Preferred Managing Sub" as well as the "Capital Trust" ... plus a few other WMI Subs of course, ... (I believe that you are following my thoughts) ...
The WMI Preferred Managing Sub, is and has been trackable on the SEC site' ... money inbound and money outbound able to be used ... what lit' me up regarding my own released P's ? were the initial listing of the WMI Preferred Managing Sub, Pre-BK, and then after the WMI reorganization, into the "WMIH Preferred Managing Sub" ... then ? as time moved forward, that sub's accounting showed the quarterly 3% KKR Cash Coupon, that was being paid to KKR, as well as the available amounts of cash held, that were used to Pay-Off the Run-Off Notes EARLY ...
The Preferred Managing Sub, ... Has Never Been Liquidated or Removed ... It Is My Strong Opinion that it continues functioning thru to today ... ownership of the "Original Preffered Managing Sub, IS Maintained by (XXXX) ... period ... NOT BY COOP' (NationStar) or, whatever they are calling the SEC Allowed "Registrant" These Days ...
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Quickly, and for the 100th time ... DIRECT Ownership of the WMB Notes (WMB Bonds) NEEDED to be purchased and owned as a Direct Purchaser ... Finra Compliant, Vetted, and an Accredited Investor ... third party purchases are NOT THE SAME and I couldn't care less if someone doesn't understand this. ... no bs'
just sayin' :)
AZ
