Boris, no doubt you are correct. If WMIH was going to do any mergers, they would have at least done one by now and they could have done a couple each of the last three years but small enough not to run afoul of the tax attributes.
However, no mergers to date so it will be former assets of the holding company, sale assets, receivables, bank accounts and more. It is coming. Remember 11 Board of Directors and two WMIH employees. Now this is funny!