WMIH also owned the equity interests in WMMRC, just like WMIIC, yet they received little to none of the Run-Off proceeds, the majority/all of which went to the WMILT.
Seems to me these equity interests have everything to do with the STOCK WMI held as owner of these Subs, and not regarding any beneficial interests in Trust assets WMIIC held.
QUOTE: "The Liquidating Trust Assets consisted of all of the assets of the Debtors as of the Effective Date, other than:
WMI’s equity interests in (i) Investment (all the assets of which were contributed to the Trust or were transferred to JPMC pursuant to the Global Settlement Agreement)"
IMO the WMIIC that was transferred to WMIH was nothing more than an empty shell, which they dissolved and likely formed the new Wand entity.
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