So firstly, your statement was false concerning the 2013 10K. It was not in there although repeated and referenced many times.
Second, your new reference is correct but pay very close attention to what it actually states which is only partially supportive of your posit.
"Except as provided in Confirmation Order, on the Effective Date, title to all assets and properties encompassed by the Plan shall vest in the Reorganized Debtors, Reorganized WMI, the Liquidating Trust, the JPMC Entities or the FDIC Receiver, as the case may be, free and clear of all Liens and in accordance with sections 363 and 1141 of the Bankruptcy Code, and the Confirmation Order shall be a judicial determination of discharge of the liabilities of the Debtors and the Debtors in Possession except as provided in the Plan."
The judge did not allow all assets to be included in the plan. Most WMB assets went to JPMC and the FDIC. The largest chunk being ~184B in deposits which of course JPM would be on the hook to pay back to the former customers of WAMU. Once that is removed, ~60% of assets are addressed.
Remember, in any company Assets = Liabilities (- ) Stock holder equity. SE was ~28-29B, so consider about 92+% of assets were attached to liabilities that the court, LT, FDIC, WMIH paid out to claims approved.
However, those were assets listed in the last 2008 WMI 10K (starting point ), dust settles, 2013 10K. Now consider the financial instruments running outside of the WMB Ch 7 (all assets paid out or transferred), and the WMI Ch 11 reorganization ( many claims against assets, but certainly not all) Tax benefits?
WMI was required to hold interest(s) in the financial instruments they produced in the USA and abroad, MBS,ABS, CMBS, in addition had streams from BONDS. Several times in court people were shut down trying to pull those in but they were primarily owned by the purchasers and in staggering amounts. Had that veil been pierced? It would have plunged the world markets, companies, pensions, etc.. into chaos and would have infected all the other financial instruments issued by other entities. They were backed by residential, commercial real estate, and other pledged assets. So, rightfully and wisely, NOT in consideration. Otherwise 2008 would have been a complete collapse.
Now 15+ years later, surprise! most people paid off those mortgages, refinanced at very low rates, same in commercial, assets matured and continue to mature on the longer duration, and that required piece WMI had to hold along with income streams from the bonds... Viola. The restructuring that left the last claimants in line... they may have extinguished the tradable stock certificates, but all companies, corporations ultimately belong to the share holders. A = L - SE.
Will any payouts come from the final FDIC closure? Will the parent pay out a reconciliation once the dust has settled? Do they legally have a choice?
COOP is a registrant sub reporting exactly what it is required to report and nothing more. Doing extremely well due to the many advantages of the parent, tax credits, etc... Please don't act like your here for altruistic reasons. You might not be happy with the amount of time it has taken, nobody is, but don't pick apart certain statements and ad lib to SEC documents. Some of us know which way the wind blows, we just don't know exactly when.
