█ Der ESCROW - Thread █

(2) fair valuation of any illiquid WMI assets (Tepper et al. cannot be trusted);
(3) reviewing offers of products and services as to suitability (i.e., an offer to sell all holdings to a broker v. an offer to borrow against them at a reasonable interest rate so even shareholders with very modest holdings can ride the investment to the end); and
(4) recovery of any escrows/legacy markers seized by or allegedly forfeited to brokers.
This team of professionals would be selected by us as a body and would work for our ombudsman who would interface with the powers that emerge after WMI’s assets are disclosed. The professionals and the ombudsman would be compensated by the banks out of the fees negotiated by the ombudsman on our behalf. The ombudsman would be someone unafraid of the banks and hedge funds, and who is fiercely devoted to fighting against unfairness and has sympathy for little guys. Sitting just below the ombudsman would be a council of legacy retail who would confer as necessary periodically with the ombudsman and voice investors’ concerns. Unless a retailer has a particular concern, there would be no need for disclosure of any investor’s information to the ombudsman. In many ways this alliance would function so an investor would approach the ombudsman as he would his elected federal or state representatives.
This leads me to another matter we’ve discussed: who will be allowed to participate in a private equity deal taking WMI’s assets private. Given the Settlement Noteholders’ initial intent to take what eventually became Mr. Cooper private, as well as their aversion to retail in general and the SEC’s limits on participants in certain private investments, I thought holders of smaller amounts of legacy interests (e.g., someone with 100 Ps (i.e., the equivalent of $100,000 face)) would not be allowed to participate. I’m now of the opinion that the brokers themselves would fight against such exclusion.
The brokers’ fantasy is to relieve holders of their valuable legacy interests at low prices, if possible. This is probably impossible, so the next best thing for them to do is to aggregate all WMI legacy interests so that even the smallest holders can participate and grow their stakes dramatically over the next few years with the banks charging high fees on these newly wealthy clients. Further, by fighting to get them included the banks will have proved their loyalty. LOL. Accordingly, I think the banks will play the long game and let all the little guys in so they can fleece them over many years and probably generations. This ‘No Client Left Behind’ scheme is the wiser course lest competitors use it to lure holders of relatively small stakes (e.g., if Schwab (or even Citi or Wells Fargo) did this because Morgan Stanley refused to then those small E*Trade legacy stakes would walk out the door). If the foregoing materializes each private equity interest will be controlled by a broker so the powers only have to interact with brokers, which is cheaper, entails less legal and compliance risk, and doesn’t require them to interface with the hoi polloi.
I understand that many who read this board have large legacy holdings and may feel they do not need representation either because they already have wealth management or because they think they can handle matters on their own. Such persons should consider that the Settlement Noteholders and the TPS group (e.g., Jon Savitz’s group) will stick together and their combined holdings dwarf retail (e.g., Tepper and Savitz alone control $1.725 billion of face; just under the amount of legacy holdings at Schwab). I am particularly concerned about their valuation of illiquid assets, if any. In my opinion these leopards will not change their spots. Unless they and the wealth managers fear retail as a group they will exploit retail.
Anyone interested in serving or nominating someone to serve should PM me or reach out to me at: griffincounselpc@outlook.com. We will have a roadshow to introduce the professionals to investors so they can meet them before committing to the alliance. As to commitment, all that will be required will be a memorandum of understanding (which by definition is non-binding). Positive identification and a brokerage statement evidencing WMI legacy interests (redacted as to quantity) and a notarized affirmation that the brokerage statement is not fraudulent would probably be adequate for providing eligibility. As previously stated, joining the alliance will be free.
Finally, I know some of you are hostile to my decision to exhaust my legal remedies. My response is that my portion of the money coming to us is a large sum, very significant to me and my family, and I have no intention of relinquishing any portion of it unless forced to do so. No one here is going to replace the money I will lose if the Underwriters remain in Class 19 and given reports I have received very few people here would be able to write a check for either the initial or ultimate value of their portion of the money lost to the Underwriters. (Also remember that Morgan Stanley/E*Trade has the largest portion of the Underwriters’ $72 million claim in Class 19.) Accordingly, though I am sympathetic about people’s individual concerns, I am resolute. If you want to hurry things along, reach out to Tepper and the other three Settlement Noteholder heads and Jon Savitz.

Also ich habe geglaubt das im Wasserfall Prozess Gelder auftauchen werden,
Vielleicht sogar die erhofften save harbor werte
( wenn vorhanden)
Mit viel hatte ich nicht gerechnet, vielleicht 70cent bis max 1€ pro escrow

Leider war das nicht der Fall.

50/50 war die Chance nie...

Ich hoffe das Mr. Cooper die nächsten Wochen und Monate etwas einbringt, da sehe ich im
Augenblick mehr Potential als auf die escrows
Zu hoffen...
Zumal Alice alles noch länger verzögert (warum auch immer)

Wasserfall 2.0 könnten theoretisch die nols sein... Wenn sie genutzt werden könnten wir
Escrow besitzer eventuell was bekommen
Wenn ich das richtig sehe...

Weiter abwarten nun bis August... Es ist
Kompliziert...

We will see...

drynoodle   Friday, 05/07/21 03:56:34 PM
Re: None 0
Post # of 656167
          §
LuckyPanda,

Here is some info for you. I, like you, was wondering if LT is closed or not.
So I went to Delaware state website to search for LT's status. The current status is "Good Standing" which means not terminated or dissolved. So it is still open.

I have the screen snapshot but could not attach it with the post. If you are interested, you can do it by yourself. Follow these steps: (To get the status, you will be charged $10, so have your credit card ready)

Go to icis.corp.delaware.gov/eCorp/EntitySearch/NameSearch.aspx
Type "wmi liquidating trust" and search
Result come out. Click the WMI Liquidating Trust link
You will get basic info. If you want the status info, follow the instruction and create login there. Then do the payment. You will get the status page.
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rynoodle Freitag, 05/07/21 03:56:34 PM
Re: Keine 0
Beitrag Nr. von 656167
          §
LuckyPanda,

hier ein paar Infos für dich. Ich habe mich, wie Sie, gefragt, ob LT geschlossen ist oder nicht.
Also ging ich auf die Website des Staates Delaware, um nach dem Status von LT zu suchen. Der aktuelle Status ist "Good Standing", was bedeutet, dass die Gesellschaft nicht beendet oder aufgelöst wurde. Es ist also noch offen.

Ich habe den Bildschirm-Schnappschuss, konnte ihn aber nicht mit dem Beitrag verbinden. Wenn Sie interessiert sind, können Sie das selbst tun. Folgen Sie diesen Schritten: (Um den Status zu erhalten, werden Ihnen $10 berechnet, halten Sie also Ihre Kreditkarte bereit)

Gehen Sie auf icis.corp.delaware.gov/eCorp/EntitySearch/NameSearch.aspx
Geben Sie "wmi liquidating trust" ein und suchen Sie
Ergebnis kommt heraus. Klicken Sie auf den Link WMI Liquidating Trust
Sie erhalten grundlegende Informationen. Wenn Sie die Statusinformationen wünschen, folgen Sie den Anweisungen und erstellen Sie dort ein Login. Führen Sie dann die Zahlung aus. Sie erhalten dann die Statusseite.


Übersetzt mit www.DeepL.com/Translator (kostenlose Version)
Planet Paprika   Friday, 05/07/21 04:06:38 PM
Re: drynoodle post# 656160 0
Post # of 656168
          §
Trust Good Standing

www.lawinsider.com/clause/...n-and-good-standing-of-the-trust

or here : What is Delaware good standing?
The state of Delaware has an official document called a Certificate of Good Standing, which is also known as a Certificate of Existence. ... Generally, this is the legal document that will be needed in order to prove the entity (whether it is an LLC or a corporation) is in a good standing status with the state of Delaware.

30 days to six months
How long is a Delaware Certificate of Good Standing good for? Depending on what it is being used for, it will be accepted anywhere from 30 days to six months from the date it is produced and signed by the Delaware Secretary of State.

A standard (sometimes called 'short form') Certificate of Good Standing reflects the existence and status of a company but does not list what documents have been filed.

A long form Certificate of Good Standing confirms the status of the company and lists all documents on file. Certified copies of those documents are not automatically attached and must be requested with the certificate if they are needed. A standard (sometimes called ‘short form’) Certificate of Good Standing reflects the existence and status of a company but does not list what documents have been filed. A number of states do not issue ‘Good Standing Certificates’ that attest to the status of the company but instead issue certificates that simply certify that the company exists in the state’s records (i.e. Existence or Subsistence Certificates or a Certificate of Fact). It is important to read the certificate you receive to understand what the state is certifying.

Long Form Certificate Not Always Available
There are many states that offer long form certificates for domestic entities, including Delaware, D.C., Michigan, North Carolina, New York, New Jersey, Nevada, Texas and Virginia to name a few...

www.cogencyglobal.com/blog/...ding-does-and-does-not-tell-you