VERY IMPORTANT UPDATE FROM TRUST MANAGEMENT:
I hope you all can read through how Mr. Smith still wants to not address any assets held in their isolated state of Trusts. I will be sending my reply to him today.
On behalf of WMI Liquidating Trust, I want to thank you for your emails and your ongoing inquiries.
I want to note at the outset that many of the issues that you raise in your emails relate to the FDIC Receivership or to actions taken by Mr. Cooper Group Inc. (f/k/a WMIH Corp.) and have nothing to do with the Trust or Washington Mutual, Inc., the predecessor in interest to the Trust. It is unclear to the Trust’s management why you (and others) continue to conflate these independent, unrelated matters and/or entities and such conflation makes it difficult to understand your true intentions. I also note that allegations made by you and others with regard to “hidden” assets, so-called delaying tactics by the Trust and other specious claims are baseless and wholly without merit.
As you are aware, WMILT continues to publish and make available to the public information regarding the administration of the Debtors' estates. Such information has been (and will continue to be) published in the Trust’s QSRs, Forms 10-K or 8-K (as the case may be) and/or FAQs on the Trust’s website. It is inappropriate to respond to a particular party when others are not afforded the same access to information. We will continue our disclosure processes until the Debtors' chapter 11 cases are closed. While you and others have “demanded” that our responses to the aforementioned issues be disclosed immediately, we fail to understand why requests for information (or clarification) have become emergent recently: Liquidating Trust Interests and/or “escrow markers” held by you and others are not tradeable securities. That said, the Trust will continue to timely disclose information under applicable law.
Notwithstanding the foregoing, we will answer the questions that you have asked:
1. There are no material assets of the Trust other than those that have been disclosed already and no assets are “hidden” or “unreported”. As you know, the Trust submits unaudited financial statements to the Bankruptcy Court under penalty of perjury. Likewise, such financial statements (and other information) are filed with the U.S. Securities and Exchange Commission under Forms 8-K and 10-K and under applicable obligations to ensure that such filings do not either omit material information or include materially misleading information.
2. No assets being handled by the FDIC Receivership (either hard assets or recoveries in litigations) shall flow to the Trust. All assets that were to be transferred to the Trust have been transferred to the Trust in accordance with the terms of the Global Settlement Agreement approved by the Bankruptcy Court.
For more information, please review publicly available information. Thank you.
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