Pleasure to you too Reiko. "CONTESTED $20 B IN ASSETS"- FDIC "Bankruptcy Case After WMI filed the Bankruptcy Case, WMI, JPMC, the FDIC in its corporate capacity (“FDIC-C”), and the Receiver became involved in several lawsuits contesting the ownership of over $20 billion in assets.
The parties reached a settlement in the Bankruptcy Case that was approved by the FDIC's Board of Directors on May 20, 2010, and WMI filed a plan of reorganization incorporating the terms of the settlement ("WMI Bankruptcy Settlement"). Several parties objected to WMI's proposed plan, in particular, WMI's proposal to release its claims against JPMC, FDIC-C, and the Receiver. At the request of WMI's equity holders, the Bankruptcy Court appointed an examiner to thoroughly investigate WMI's claims against JPMC, FDIC-C, and the Receiver, and determine whether theproposed settlement (which would release these claims) was fair and equitable to WMI. The examiner found that the WMI Bankruptcy Settlement was a fair resolution. ------------------------ https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu-settlement.html -------------------- $30 B + - Mr.Folse "Your Honor, it would imprudent for the estate to do so relying 5 on the speculative ability to go out and recover up to thirty 6 billion dollars or more in money paid out to someone at 7 somewhere down the road." --------------------------- JULY 2010 Mr.Rosen in court Now, it's my position, Your Honor, 18 that the examiner doesn't need to do much with the retained 19 assets other than say the assets are retained and therefore the 20 liquidating trust can go ahead and pursue them. They will 21 still be there; they can be carried through. But I understand 22 that the equity committee is very interested in having a 23 neutral third party do an investigation of those retained 24 assets. --------------------------------- QUESTION IS "DID THEY CARRY THROUGH"? 2018 and 2019 10-K "Subject to certain limited exceptions, the Liquidating Trust Interests are not transferable or assignable.
Ok I read it and I disagree with it!!! Just another, in my opinion, an incorrect opinion!!! Since neither of us are lawyers either can be wrong so let's agree to disagree... Let's say that you are correct for a second... Why do you think this is a CH11 and not a CH7??? Now let's say tat I am correct, that means there is 20+ BILLION waiting... EITHER WAY ... OOOHHHH yea they have more assets / $$$$ and proved that in court!!! RIGHT!!! So why argue with you when it will bear no FRUIT!!!!
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