As Posited Years Ago-No Third Party Suits-Never Will Be IMHO!
I do not include Director and Officer's suits when discussing third party suits as these were in play years ago. With that said, I said over two years ago there would never be any third party suits. To me, this was common sense then just as it is now. How could the Criminals allow third party suits to take place? The Criminals had everything totally blacked-out worldwide in print and media for six years and this would be exposed to the world when third party suits tried to defend themselves? They worked way to hard to let Pandora's Box open now and that WILL NEVER happen! When thinking about this-just use common sense!
All WMILT was/is, is a conduit for a settlement that could have never happened during the on-going active bankruptcy case or in the eyes of the public at large. How could they have explained a solvent corporation with huge settlement monies which would have proved what a scam the entire case is/was?
That is why IMHO, there was some sort of deal such as when the case reaches tranche five/six. At this point, there will be claims prosecuted and the monies that was stolen will be recovered at this point or when the P&A is officially closed around the third week of September 2014 as required by the FDIC. There are overfunded claims and claims listed as assets in the final POR which will come into play when tranche five/six are worked. Keep in mind, equity kicked the Piers Holders out of their original place when they planned on cancelling equity exactly after Piers was to be paid in POR 6, so now equity is going to receive (The Mother Load) what the Piers Holders planned on stealing from equity.
Also a huge point from POR 6 to POR 7 was that Piers is capped a $10.51 a share but not guaranteed. The Piers used to be a hybrid which meant they were part Creditor and part Equity, allowing them any overage of stolen goods. That changed in POR 7, with equity now taking the place and receiving any potential overflow. Quite the reverse - wouldn't you say?
IMHO escrow shares will be paid before the final closeout of the P&A which according to an FDIC filing is supposed to be in September, 2014, unless this date is extended. Then any form of payout to escrow shares would be delayed as well.
Look for BIG MONEY to come to escrow shares during year 2014 and IMHO, it could be MUCH more than the former WAMPQ's face amount!
Of course, this is all in my opinion after following this case very closely since September 2008!
