Thank You for sharing this part of Acquisition agreement, where the WMIH and its subsidiaries are mentioned. Please follow next points I have to mention to find some probability of distribution
1) This agreement specifies the statement of income of WMIH and its subsidiaries and must be sent to Lead Arrengers at least 45 days before Closing date - it is 17 Dec 2020. I agree / understand.
2) In that agreement the fiscal Year of WMIH is mentioned without exact date, but I know, WAMU operated with fiscal Year ended at 30 Sep yeach Year. Is this date still valid, or during the BK process (including the WMB /JPM) was postponed to 31 Dec ?
3) THe distribution date is not exactly stated here, what date is supposed to be done ? Must be matched with REITs rules ? In regards the fiscal Year, or can be done early next Year ?
Thank You and waiting for Your reply, sorry for my english, it is not my mother language,
After the closing date of WMIH 2020 Consolidated Financial report, before the 45 days of the Closing Date according the Acquisition Agreement. WMIH cannot execute any distribution for 2020 after their Consolidated closing. Not even with a value date or settlement date after their 2020 closing. With other words, all transactions should be executed before the closing date of their 2020 Consolidated Financial report. IMHO
According to this Acquisition Agreement, aren't we supposed to get any distributions before EOY 2020? OR is only KKR getting these 'distributions' realized from the income from WMIH subsidiaries and it is still being 'hidden' from us? Till when can they hide it? Aren't they supposed to show all this Accounting before we start Fiscal Year 2021 (which I think alreday may have started for WMIH)? TIA & GLTU!