hotmeat, while subject matter poster, CBA09 was posting, he answered many questions of yours, including your constant questioning to prove WMI had ownership in various trusts.
You know this is disingenuous on your part after CBA09 explained (below) this to you. Here is the simple explanation - SPE/Trust are designed for independent ownership. Not controlled by WMI nor WMIIC.
Further, the term used in the filings, "WMIIC which "assets" belongs to WMILT but 100 % of the "equity" interest reside at WMIH Corp". This is very, very important when understanding what will take place in the near future!
More Fantastic Info From Dmdmd2020-Poster CBA09 Concurs With Our Assessments That Marker Holders Are Where The Very Large Green Resides
Quote from: temocatedmonds on Today at 02:46:38 PM
D, Considering the SPE's/Trust are the "Crown Jewel" of WMI in it's capacity of being the Parent do you believe any of these individuals were behind the planning for WMI abandoning its stock as worthless on record with the Estate and then to have the Estate in turn diverted all future benefits back to WMI?
And as you and CBA stated on this topic the SPE/Trust Income is not part of the estate assets.
Whoever did this, was very wise and astute in this specific area, thus why the big players bought into a worthless BK stock, right? The few of us here that are retail players are ether lucky or genius.
Temo,
The following CBA09 post details his view regarding the astute WMI abandonment of WMB stock:
CBA09 Ihub post #498722:
"
CBA09 Tuesday, 12/05/17 07:34:44 AM
Re: hotmeat post# 498530
Post # of 505195
Ref: IMO, WMIIC ""owned/controlled"" these Trusts on behalf of and for the sole benefit of WMI and NOW the WMI Estate/Tracking Markers.
Comments:
SPE/Trust are designed for independent ownership. Not controlled by WMI nor WMIIC.
Yes these SPE's/Trust are the "Crown Jewel" of WMI in it's capacity of being the Parent. Also Facts of great importance:
1) The bankruptcy estate does not have jurisdiction over these SPE's/ Trusts. WMI in its capacity of equity interest does.
2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI.
A Turnover action is routine Bankruptcy procedure to bring back to WMI estate what is considered estate assets. And SPE/Trust Income is not part of the estate assets.
We are all good here with the SPE's/Trusts of the Parent - WMI. "
__________
IMO...conclusions as of October 28, 2019 @ 1436 CST:
1) I agree with CBA09 regarding the astute WMI abandonment of WMB stock which in turn makes all recoveries returned exclusive to WMI Escrow Marker Holders only.
2) Regardless what anyone thinks, Bonderman et al. was in control because they not only owned preferred and commons but they were also part of the creditors committee.
3) As I’ve stated before, Bonderman et al are the ultimate insiders, and everyone such as Retail and the underwriters are all just riding on their coattails.
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