Not exactly. WMI is in BK court. There is not an unlimited universe of possible outcomes from here. They are numerous and the timing is up in the air at this point but we do know, in my opinion, that WMI is going to exit the BK process at some point or they are going to be dissolved completely and go out of business.
The likelihood of dissolution is not high because JP Morgan Chase is currently using Washington Mutual related trademarks. That, alone, pretty much assures the market, i.e. us, that the name of Washington Mutual is going to remain around for years to come in some form. What is confusing is just how WMI as a corporation emerging from BK might be controlled by JPM minions. It appears as though someone at A&M has designs for WMI to be controlled by JPM Chase after BK based on the piece of s, pos POR that they just filed.
It's confusing for sure. WMI BOD just walked out and gave the BK process over to A&M and so it's like the lawyers are completely calling the shots here. Give me a break! The stock holders MUST get a say here!
When the stock holders do get a say, dissolution may very well be the best option for the errant WMI "owners" who all but abandoned ship anyway!
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