Newflow, perfect! Thanks for sharing the filing again and this should bring a huge LIGHTBULB MOMENT to many here once they reread this refresher filings or it should!
WMI, as a Holding Company (not a Bank Holding Company) owned the one share of WMB.
The Title follows the stock ownership. The FDIC didn’t own WMB, therefore the FDIC as stuck and couldn’t process the Receivership through the Courts.
The Stock Abandonment of the WMB stock in the GSA solved the FDIC’s dilemma. The FDIC couldn’t litigant on WMB’s behalf without ownership of WMB Title (stock).
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