The retained assets, as with all of the MBSs, are in a trust. By law, when assets are placed in a trust, the trustee assumes temporary ownership and the owner becomes the beneficiary. It is this feature that makes them BK remote.
If these supposed MBS assets were there why would they even have to "GO AFTER" them? The assets are the property of WMI and already protected from seizure/bankruptcy by the Trustees. Are you insinuating that the Debtors would have to initiate litigation against the Trusts to get WMI's property back???....that reasoning makes no sense. WMI/Debtors as the "owner" would be entitled to receive updates on the value and performance of these assets.
As it pertains to evaluating the retained assets, I didn't see anywhere in your references where he says he evaluated them. There is a lot of talk about equity being out of the money. However, nothing concerning the evaluation of those particular assets.
The claims were the "ASSETS" and because they were not tangible "ASSETS", that's why they had to be evaluated to determine their value.
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