nova, I believe this scenario may play out in some form or very close to the following.
In my view, WMI is a separate entity (very much alive) and will not trade publicly. There are a few buckets of returns. However, the large bucket containing Safe Harbor monies, the former WaMu Estate is tied up in a (DST) Delaware Statutory Trust that I believe is owned by the investors who signed timely releases by 3/2012.
When WMI (remember Doreen Logan & Charles Smith present, WMILT NOT dissolved YET) is re-awakened, they will issue a private placement of non-public and non-tradable shares that can ONLY be purchased by WMI and WMI takes control of the large cash pile built up since 9/2008. This will contain a minimum threshold that must be met since this ownership represents the former WaMu Estate that will not be allowed to fall into other hands of ownership.
If an investor wants to cash out their ownership, their private placement shares can ONLY be sold to WMI, so the company can keep control of the Enterprise. I believe the threshold to meet will be between two and five million face and those who do not meet or want to sell will be purchased by WMI ONLY.
Then WMI takes ownership of the entire Enterprise and will grow larger than ever doing business with Freddie and Fanny since WMI has become a Government favorite due to covering the travesty up since 9/2008 and made to look legal for historical reasons.
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