lodas
49 minutes ago
who fed you this line of bullsh*t?...AZCowboy, LG,ron, BBan,Boris, and others?........read the amended POR 7 pages 95,and 96, and see what it says about your millions returning to you... squat is what you will get from JPM, FDIC, WMIH... the chapter 11 is closed years ago.. there is nothing stopping them from paying you , if they intended to do so...find a job if you need money... Lodas
lodas
10 hours ago
The borrowers and the FDIC was harmed by LIBOR, not WAMU... why?... WAMU just passed the higher interest rates to those that took out loans... The FDIC was harmed because they were over insuring the Liabilities of the WAMU banks and was not being compensated from the fees they got from the banks...WAMU was not involved in derivative contracts so they did not suffer losses like AIG did, and had to be bailed out,,,, WAMU sold home loans to GSE's, and MBS were packaged in Tranches and sold off to investors... there will be no LIBOR settlements going to WAMU, or WMI, .... the FDIC will keep any settlement monies to work off the 14 billion dollar loss on WAMU's balance sheet caused by the 16 billion dollar "run on bank deposits"...Lodas
newflow
18 hours ago
7. Assets of WMI's Non-Debtor Subsidiaries, Other than WMMRC
Pursuant to applicable law, and as stated by the Bankruptcy Court at the March 21, 2011
hearing, the Bankruptcy Court's jurisdiction is limited to assets of the Debtors and not to those of any
non-Debtor subsidiary. However, because the value of the Debtors' interests in such non-Debtor
subsidiaries and non-Debtor assets, including WMMRC, ultimately accretes to the benefit of the Debtors'
chapter 11 estate, the Debtors have reflected such value in their liquidation and recovery analyses. To
provide parties in interest with additional information, set forth below is information related to WMI's
direct and indirect subsidiaries as of the Petition Date, including WMMRC, as well as historical
information regarding any transfers of assets by WMI's non-Debtor subsidiaries from and after the
Petition Date. Pursuant to Section 1. 140 of the Seventh Amended Plan, WMI's Equity Interest in all of
its subsidiaries, except for WMI Investment, WMMRC and WMB, will be transferred to the Liquidating
Trust. For the avoidance of doubt, and as set forth in more detail below, with the exception of a few de
minimis residential real estate properties held by Ahmanson Obligation (defined below) as a result of
mortgage foreclosures, neither the Debtors nor their non-Debtor subsidiaries hold any real estate.
Page 49/129
https://www.kccllc.net/documents/8817600/8817600191119000000000001.pdf
ron_66271
19 hours ago
ORDER (1) PRELIMINARILY APPROVING SETTLEMENT
WITH DEFENDANTS CREDIT SUISSE AG, LLOYDS BANK PLC, BANK OF SCOTLAND PLC, NATWEST MARKETS PLC, PORTIGON AG, WESTDEUTSCHE IMMOBILIENBANK AG, ROYAL BANK OF CANADA, RBC CAPITAL MARKETS, LLC, COPERATIEVE RABOBANK U.A., THE NORINCHUKIN BANK, MUFG BANK, LTD., AND UBS AG; (2) CONDITIONALLY CERTIFYING THE SETTLEMENT CLASS; (3) APPOINTING SETTLEMENT CLASS COUNSEL; (4) APPROVING CLAIMS ADMINISTRATOR AND ESCROW AGENT; (5) APPROVING NOTICE PROGRAM; (6) PRELIMINARILY APPROVING PLAN OF DISTRIBUTION; AND (7) SCHEDULING A FAIRNESS HEARING in case 1:11-cv-02613-NRB; granting (4009) Motion to Approve in case 1:11-md-02262-NRB. NOW, THEREFORE, the Court having read and considered the Settlement Agreement and the submissions relating thereto, upon all prior proceedings in the Action, and after due deliberation, IT IS HEREBY ORDERED: As further set forth by this Order. 1. Preliminary Approval of Settlement Agreement. The Court preliminarily approves the Settlement Agreement and the terms and conditions set forth therein, including the release contained therein, as being fair, reasonable, and adequate as to the Settlement Class (as defined below in paragraph 3). The Court finds that the Settlement Agreement was entered into at arm's-length by highly experienced counsel and is sufficiently within the range of reasonableness that notice of the Settlement Agreement should be given as provided in this Order. 2. Fairness Hearing. A Fairness Hearing pursuant to Rule 23(e) of the Federal Rules of Civil Procedure is hereby scheduled to be held before this Court at 11 : 30 a.m. on September 5, 2024, [a date at least 120 calendar days from the date of this Order] in a format to be determined by the Court that the Court will announce on the case docket in advance of the hearing. The Court preliminarily certifies, for purposes of settlement only, the Settlement Class identified below and finds that the Settlement Class satisfies the requirements of Fed. R. Civ. P. 23(a)(1)-(4) and 23(b)(3). 17.Stay. Unless otherwise ordered by the Court, the Court stays all proceedings in the Action against the Settling Defendants other than proceedings necessary to carry out or enforce the terms and conditions of the Settlement Agreement. 18. Settlement Funds. The cash consideration provided for in the Settlement Agreement is $3,450,000. Payment of the Settlement Amount by Settling Defendants shall be made pursuant to the Settlement Agreement. IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 4/26/2024) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB (tg) Transmission to Finance Unit (Cashiers) for processing.
https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
Ron
JusticeWillWin
21 hours ago
Exactly, COOP's fair value was $200, now with the lower P/E even more IMO, see
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174283852
After the recent earnings, the PE ratio is now only 8.25, I think it was over 10 earlier, the stock should be trading much much much higher.
xoom
21 hours ago
Not AZ, but the 36,000,000 new COOP could be for original WAMUQ commons
The multiplier you would use with your original WAMUQ common share count would be 0.03
So if you had 50,000 original WAMUQ, then you could expect
50,000 * 0.03 = 1,500 new COOP shares
For overall numbers:
1,200,000,000 (TOTAL UQ commons) * 0.03 = 36,000,000 new COOP shares
(Current pps of $78.xx could rise or fall depending how market absorbs the news)
DarkB4Dawn
23 hours ago
The FDIC has stated consistently they can not close the Washington Mutual case until all legal proceedings are closed. Besides LIBOR, there were about 6 cases last time I checked that were not settled. Sep,2023. They didn't even go after them until the deadline for bringing cases was looming last summer.
Would love to see them all closed and the case closed @ the FDIC but not counting on any windfall. FDIC has a lot of discretion to apply LIBOR settlements the way they want and where they want. So what's to keep them from building a "war chest" and justifying it by stating future bankruptcy case may require additional funding.
Think about how the FDIC has acted to date. No urgency, boiler plate responses to inquiries "currently we do not anticipate...", and glib responses to inquiries from shareholders. Further, how has the entire government treated this case? 5AT, changed laws to prevent another Washington Mutual holding company scenario, and clearly in the "WGAS about the shareholders camp"... Not holding my breath for the government to do the right thing but maybe they will surprise us?
AZCowboy
23 hours ago
~ "Defined" ... "COOP's" (current) Common Share pps, Is Directly' Related To a (2/3rd ish') Original Released WMI / WMIH (wamuq) (Plan) Common Share ~
The Following Transitional Event(s) ... were only' related to the WMI wamuq released common shares' ...
initial conversion @ .03349842 on 03/27/2012
conversion completion @ .00076346 on 08/03/2012
the tracking of the plan 7' released WMI (wamuq's) had to be "perfect" (in my opinion, for what is now' soon to come ! ! - COOPs return to 100m shares' ... yes, all planned for, a very very long time' ago ! ! ! )
any and all excess P' ... "Cash In" ... funding, would always have been maintained within the WMI / WMIH "Preferred Managing Sub" (segregated & NOT' involved in the Holding Company's Reorg) ... always maintained and held, for the original P' Fixed Income Bond, releasing Plan Participants' ...
yes, it's all coming together
"Abba Da Ayy"
just sayin' :) :)
AZ
lodas
1 day ago
Enterprise value of 210 million....this corroborates the statement of Rosen, who said WMI held no Safe Harbor assets, and that they were all sold off to GSE... the document you posted was viewed by all parties to the agreement, discussed by lawyers and accountants, signed by the judge, and met the requirements of the U.S. Trustee bankruptcy court review... yet, you question the authenticity of the dissolution of the monies given for these trusts, and suspect fraud... where does your skepticism end Newflow?...Lodas
newflow
1 day ago
NON BANK SUBS WERE TO RECEIVE NOTE RECEIVABLE FROM JPMC AS PER DISCLOSURE STATEMENT
Of WMI’s seven remaining Non-Banking Subsidiaries, WMMRC, which is currently operating on a run-off basis, WMMRC is the only Non-Banking Subsidiary with ongoing operations. Refer to Articles IV.A.6, VII, and VIII of this Disclosure Statement for additional information regarding WMMRC. After the Effective Date, WMMRC will be Reorganized WMI’s sole operating entity. Pursuant to the September Opinion, the Bankruptcy Court determined, based upon the evidence presented at the July Confirmation Hearing, that the enterprise value of Reorganized WMI is $210 million. For each of the Non-Banking Subsidiaries other than WMMRC, the market value stated is a sum of, where applicable, (i) cash, (ii) notes receivable being paid by JPMC, carried at current market value, and (iii) in some cases, certain other de minimis assets and liabilities, less certain disbursements for expenses related to mergers with other Non-Banking Subsidiaries or dissolution, as applicable. The principal difference between the book value and the stated market value results from the fact that intercompany balances do not represent additional value to the Debtors’ estates.
THEY CONSOLIDATED ALL FIVE SUBS INTO WAMU 1031 EXCHANGE IN CA AND MOVED THOSE TO WAMU 1031 EXCHANGE IN DE.THEY PROBABLY RECEIVED ENOUGH FUNDING FROM JPM AND MOST OPERATING FOR A LONG TIME.IMO.
PAGE 59