WMIH Corp' Moving Forward ~ AZ's ~ Conclusions'
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Zitat azcowboy:
I have studied hard and researched extensively' ... due to my own need to understand whether I should remain on this investment or not ...
Now ? I have studied the assets' ... and Now ? I understand the pre seizure plan to secure these assets well into the future for an eventual rebirth within a reorganized new company ... WMIH Corp'
The original planners would have understood at the very onset (2008 pre seizure), that regarding the time period needed to complete the plan', at a minimum, ... there would be no planned future for the reorganized company able to be considered until at minimum 9/25/2014' and beyond, or until the agreed upon Purchase and Assumption Agreement had reached its pre determined termination date' again, 9/25/2014 ...
So at a minimum, the timing that was understood back in 2008' pre seizure, would have been that this planned pre seizure process, to maintain the WMI wealth, within the exiting reorganized company' future tense' would take at minimum, a six year period' ...
Also, one should consider, the initial filings' ... WMI Investment Corp, Filing # 0001' ... Filed for Bankruptcy Protection with "Zero Debt" ... and ... if you review the filing, ... Not only did WMIIC file with zero debt' ... But ... it also listed ... Zero Creditors'
~ With Zero Debt and Zero Creditors reported, ... there would never be any creditor claims filed' ... there would never be any need for the WMIIC assets to be considered' ~ remember' these two ~ WMIIC and WMI ~ filed for bankruptcy protection as separate' legal considerations initially within the Delaware Court' ... Both ... showing the Attorney Group Weil' as their debtor representation'
Then, of course, we see WMI(s) Bankruptcy Filing ... Filing # 0002 ... which took center stage within the Publically Displayed' Court System' immediately' ... everyone' was dazzled' ...
Weil' ... as the debtors representation ... then filed to have these two bankruptcy proceedings be joined, "procedurally only" ... obviously the court approved this request' ... then also, ... Stewart Landefeld, (The Executive Vice President of WMI) ... Filed "in support of" this consolidation' ... a very interesting read'
This then allowed WMIIC, ... as a financial consideration, ... to never legally, need be considered' ... again' No Debt' - No Creditors - and joined procedurally only'
... So now move through time' ... The WMI BK and the Plan 6 design was to have the process end at the creditor class 16' ... equity was not to be included, the reorganized company' would exit and maintain a shell status' until the P&AA agreement would ultimately terminate' ...
Now' ... WMIH Corp ... was originally reorganized in the State of Washington' ... and it's disclosure always referenced owning WMRRC in run off mode and WMIIC' .... WMIIC was always a registered Delaware Corporation' ... Now, within WMIH's own disclosures stated numerous times, that WMIIC ... "IS eliminated upon consolidation" ... THAT' statement has never been possible before now, ...
Now ? WMIH Corp has relocated to Delaware, ... Where WMIIC always has been and the Liquidating Trust is also'
Back in 2008' ... Many people simply underestimated a number of things'
The massive values of WMI' ... which needed to be protected into the future and realigned with an exiting reorganized company
The ability of Weil' to produce an initial plan allowing the massive asset values of WMIIC to be protected' while the WMI Bankruptcy proceeded, utilizing the cash available to complete what was necessary ... and fulfill its settled Plan (2012)
All of the cash' was kept in WMB, the seized bank' ... including the cash held on behalf of WMIIC' ... this is disclosed in the documents' ...
Many inexperience participants merely had blinders on regarding the Pre Planned Bigger Picture' and believed that the WMI Bankruptcy was all that there was' ... it most definitely, was not'
So, ... fast forward to today' ...
WMIH' has now completed its move to Delaware, ... and for the first time historically' since 2008' ... WMIIC can actually now be consolidated with WMIH, now that they are both legally registered in Delaware' ... The documents have professed this future result planned' continuously, however, it has never been legally possible until now'
So ... Now, after extensive study and research' I understand what was planned for so very long ago ? ... Now ? , I no longer can see any additional obstacles for what was planned for so very long ago, to begin to be realized ... the future, planned so very long ago for WMIH Corp'
... The future was always to be the financial structure of the reorganized company ~ WMIH Corp'
WMIH Corp' ... is now finally in a position to realize it 2008 pre seizure' planned destiny'
when this initial plan was inked' pre seizure 2008 ? ... there were no plans for any equity participants ... equity wasn't ever' supposed to be involved, ... But' ... after the battle within the bankruptcy proceedings' ... Here We Are, just the same'
... Today ? ... as I continue to search for potential problems ? ... I see no obstacles to the plan designed for the future of WMIH Corp ~ pre seizure 2008 ~
... Simply Put' Regarding WMIH Corp ...
As disclosed within the relevant documents numerous times'
"WMI Owns 100% of the Equity in WMIIC" ... So since WMI is the Original Debtors Estate' ... it would seem logical that since WMIH Corp claims to currently own the sub' ... WMIIC' ... that in an effort to collect ownership of the ... equity of WMIIC ... that WMIH Corp will need to do business with the Original Debtors Estate ...
... The Current Owners of the Original Debtors Estate, are the participants that signed the release' as instructed to do back in the 1st quarter of 2012' ...
... These existing current owners of the Original Debtors Estate, are defined by ... The (-esc) escrow tracking markers showing in ones own account'
... Regarding the Value ? ... I can only surmise from what I have studied, ... Please remember, ... The accounting side of the issues I leave to the bean counters' ... My skillset' ? ... Is within the document dissection and legal procedural issues' ... and ... honestly, I don't think like that, regarding a defined amount of return' ...
When I become involved within an active litigation ? ... I don't consider how much' ... I simply want everything' ... I figure hedge funds think along those same lines' ... also'
I figure the amounts of value which were earmarked to be preserved for the exiting reorganized company, ... planned for future tense, to be quite large ... Billions' ... Yes' ... Billions ...
To give you an idea' ... I would refer you to Washington Mutuals 6/30/2008' SEC release, ... Then consider the (pre seizure) plan' ... Most of WMI's financial subs, stopped reporting to the SEC via a required 8-K in 2007 ... converting to ABS-15G and ABS-15G(a) filings ... beginning in 2012' ... Curious ? ... You Betcha'' ... Pre-planned ? ... You Betcha' ...
Now, ... Consider, the OTS / FDIC showed up on 9/25/2008 and scooped up literally everything' ... Then the day after, ... Filing # 0001, ... WMIIC, filed for bankruptcy protection with zero debt and zero creditors' ... showing, between $500m and $1billion worth of asset value' ... remember, this is filed the day after the seizure' ... 9/26/2008' ...
The OTS / FDIC, ... had secured the massive ... WaMu ... value within the confines of the 34' Act for six years into the future' ... or until the P&AA would ultimately terminate on 9/25/2014' ...
So, ... All things considered ? ... The amounts of value secured, away from the bankruptcy process, via the pre seizure plan, ... I believe to be staggering'
THIS, ... is what everyone wants and has been waiting for' ...
AZ
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Zitatende
MfG.L:)
Alles nur meine pers. Meinung, kein Kauf- oder Verkaufs-Empfehlung!