Thanks LG. And why I’ve become more emotional about this is the fact that I I’ve been talking a lot more with my financial folks some strong attorneys I have on my team.
Trying if I can to learn and get to the bottom of this multiple year fiasco.
But safe harbor protections and bankruptcy-remote SPVs aren’t magic wands that hide assets from the court. They’re legal structures used to protect counterparties, not to create undisclosed value for shareholders.
If WMI had a beneficial interest in any of those trusts, it would still need to be disclosed under bankruptcy law — especially in a case this closely scrutinized by multiple federal agencies, courts, and parties.
And let’s be honest — if Justin Nelson had evidence of hidden billions in those SPVs, it would have become a legal fight, not just a courtroom scolding. There’s no record in the docket or the Plan of Reorganization that supports residual value for equity .. at least I don’t believe so.
Regards,
JHD
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