Wamuvoodoo and others if you look at this new modified DS, plan it will show what the Debtors did with all the subs, and non-debtor companies:
They after the petition date “Post BK” merged most subs into ether WMI Rainier or WM Citation
This is where we need to look pages 55-77 will get you there.
Per the “plan” WMI will PAY JPMC 1.49 million to remove all assets and this unadited BKK Litigation liability. We pay JPMC!
AOC’s balance sheet, as of January 31, 2011, is shown further below.
WMI Rainier LLC
_ WMI Rainier LLC (“WMI Rainier”) is a Washington limited liability company formed in April 2006. Prior to the Petition Date, the company primarily served as a consolidation subsidiary for use in merging former WMI subsidiaries out of existence.
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_ Over the course of the reorganizations after the Petition Date, the company acquired Ahmanson Developments, Inc. which had potential liabilities related to the BKK Litigation and certain warranty obligations. The BKK Litigation and the claims
associated with it are further described in Section IV.D.14.j of the Prior Disclosure Statement. Pursuant to a pending settlement with JPMC and the plaintiffs, WMI will pay JPMC $1.49 million on behalf of WMI Rainier in exchange for a release by JPMC of all claims against WMI and the Non-Banking Subsidiaries related to the
BKK Litigation. In addition, JPMC will indemnify the WMI Entities for any loss related to the BKK Litigation not covered by insurance; provided, that such
indemnification is limited to an amount of up to $1.49 million with respect to liabilities of WMI Rainier or its predecessor ADI (defined below) or Oxford
Investment Corp. (See Certification of Counsel Regarding Order Approving
Settlement Agreement Between Debtors, JPMorgan Chase Bank N.A., California
Department of Toxic Substances Control, the BKK Joint Defense Group and Certain
of That Group's Individual Members, Exhibit A [D.I. 6261].)
_ WMI Rainier LLC’s balance sheet, as of January 31, 2011, is shown further below.
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