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Washington Mutual demanda a la FDIC por 17 billones US$ + daños

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Washington Mutual demanda a la FDIC por 17 billones US$ + daños
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Washington Mutual demanda a la FDIC por 17 billones US$ + daños
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#23601

Re: La solución de los Hedge Funds para pagar los menores impuestos posibles en 2012

READ ALL OF THIS>>> Do not forget the "Ordinary Loss" that occurred when the debtors abandoned the stock in WMB. That is a very large sum of money. Probably in the neighborhood of 18 Billion. I know the debtors took some tax losses in 2009, 2010. When the IRS installed the Rule that allows holding companies i.e. WMI to realize an Ordinary Loss instead of an Operation Loss when they lost their main income producing asset i.e WAMU BANKS they did with the expressed intention that the Holding Company could then take an "ORDINARY LOSS" that could be rolled over onto the entities books, therefore allowing the holding companies creditors and shareholders to recoup some investment through an acquisition schedule. Of course IRS does not want to facilitate acquisition to avoid taxes, but that is exactly what they did with this rule. WMIH meets every requirement in the language I have submitted below.

If the Holding Company does not use this Ordinary Loss in the tax year it was acquired i.e 2012, then the Hold Co will have to put the Loss on the books in the NOL category and therefore subject the loss to stricter rules per the IRS. WMI is not going to allow a multi-billion loss now worth 39% to an acquiring firm to just rollover into the NOL category on WMI's books. No, once the BK is completely finalized and all creditors are satisfied, (if I am reading this right) WMIH can then be acquired for the losses as well as the assets. An ordinary loss is not an operating loss. Worthless Stock is just that WORTHLESS !!!

WMI MEETS THE 165 TEST (remember discussions about this in BK court?)

Parent can deduct as ordinary loss worthless securities in wholly-owned subsidiary PLR 201108001 IRS has privately ruled that, provided Code Sec. 165(a) 's and Code Sec. 165(g) 's requirements for claiming a worthless securities deduction are met, a savings and loan (S&L) company may claim an ordinary loss for its basis in the stock of its wholly-owned banking subsidiary. In so holding, IRS determined that the interest on and gains from the sale of the subsidiary's real estate and consumer loans were active receipts for purposes of applying the Code Sec. 165(g)(3) gross receipts test since, until the subsidiary was placed in receivership, it was an active operating company that performed significant services in its banking transactions. Background. If any security that is a capital asset becomes worthless during the tax year, the loss is treated as from the sale or exchange of a capital asset—that is, as a capital loss—on the last day of the tax year. ( Code Sec. 165(g)(1) ) A share of stock in a corporation is included in the definition of a security. ( Code Sec. 165(g)(2) )

Under the Code Sec. 165(g)(3) exception, a domestic corporation can claim an ordinary loss for worthless securities of an affiliated corporation. A corporation is affiliated with the taxpayer if it meets these two tests: ...

Ownership test. The taxpayer must own directly stock in the corporation meeting the requirements of Code Sec. 1504(a)(2) (i.e., at least 80% of the voting power and value of the corporation's stock); ( Code Sec. 165(g)(3)(A) ) and ...

Gross receipts test. More than 90% of the aggregate of the corporation's gross receipts for all tax years must be from sources other than royalties, rents (except rents derived from rental of properties to employees of the corporation in the ordinary course of its operating business), dividends, interest (except interest received on deferred purchase price of operating assets sold), annuities, and gains from sales or exchanges of stocks and securities. ( Code Sec. 165(g)(3)(B) ) Reg. §

1.165-5(d)(2)(iii) provides that the gross receipts test applies for all tax years during which the subsidiary has been in existence. Under Reg. § 1.1502-80(c) , subsidiary stock is not treated as worthless under Code Sec. 165 until immediately before the earlier of the time: (1) the stock is worthless within the meaning of Reg. § 1.1502-19(c)(1)(iii) ; or (2) the subsidiary for any reason ceases to be a member of the group. Under Code Sec. 582(c) , the sale or exchange of a bond, debenture, note, certificate, or other evidence of indebtedness by financial institutions (including banks) will generally result in ordinary gain or loss. Worthless stock in an affiliated bank (in which the taxpayer owns at least 80% of each class of stock) gives rise to an ordinary loss deduction if the stock becomes worthless.

Facts. Parent and its domestic corporate subsidiaries are members of an affiliated group of corporations that has historically filed a U.S. consolidated federal income tax return. Parent is a S&L company, and the subsidiary at issue (Sub), in which Parent owns all outstanding stock, operated as a federally chartered savings bank and was Parent's principal operating subsidiary. Parent and one of its non-banking subsidiaries (bankrupt subsidiary) filed for chapter 11 bankruptcy on Date 1. The bankruptcy filing was precipitated by the seizure of Sub by the Office of Thrift Supervision and placement into a receivership with the Federal Deposit Insurance Corporation (FDIC) on Date 2, immediately followed by a receivership sale of substantially all of Sub's assets.

The FDIC, as receiver, continues to act on Sub's behalf and holds Sub's remaining assets (including the sale proceeds). The receivership sale was a taxable transaction in which a separate entity purchased substantially all of Sub's assets and assumed all of its the deposits and certain other liabilities. Sub also had unassumed debt liabilities, and parent's group reported a net loss on its consolidated tax return with respect to the sale.

Since the sale, Sub's assets have principally consisted of the cash proceeds, some amount of which has been invested in marketable securities, and certain intercompany claims and other causes of action. On Date 3, Parent and its bankrupt subsidiary filed a proposed plan of reorganization under chapter 11. The plan is premised on the Bankruptcy Court's approval of a proposed settlement agreement resolving numerous disputes among Parent and its bankrupt subsidiary, the corporation that purchased substantially all of Sub's assets, and the FDIC.

The existing outstanding stock of Parent will be cancelled on the effective date of the plan, and it is currently contemplated that new common shares of reorganized Parent will be issued to certain claimholders. The plan also provides for the establishment of a liquidating trust. At the time that the private letter ruling (PLR) was issued, ignoring any possible recovery on the receiver's claims, the outstanding debt of Sub exceeds its assets, and Sub is expected to remain insolvent.

Parent has an adjusted tax basis in its Sub stock of at least an undisclosed amount, Sub continues to be a member of Parent's group, and Parent has not claimed a worthless stock deduction with respect to the Sub stock under Reg. § 1.1502-80(c) .

Parent expects to recognize its loss from its Sub stock no later than the cancellation of such stock upon the winding-up of the Sub receivership. But, Parent may seek to abandon its stock interest in Sub at an earlier time, in which case Parent will recognize the loss at the time of abandonment. Conclusion. IRS determined that, provided all the requirements for claiming a worthless securities deduction are met,

Parent may claim an ordinary loss for its basis in Sub's stock. Parent represented that the stock would be worthless under Code Sec. 165(g)(1) at the time specified in Reg. § 1.1502-80(c) , and IRS concluded that Parent met the affiliation requirements under Code Sec. 165(g)(3) where it satisfied both the ownership test and the gross receipts test.

The ownership test was readily met based on facts that (i) Parent directly owned all of the stock in Sub, (ii) Parent didn't elect under Reg. § 1.597-4(g) to disaffiliate Sub, and (iii) Sub would continue to be an affiliate until it was liquidated or until Parent abandoned its stock. IRS then examined the language and legislative history of Code Sec. 165(g)(3)(B) and determined that the interest on and gains from the sale of Sub's real estate and consumer loans were active receipts for purposes of applying the gross receipts test. IRS reasoned that the gross receipts test was intended to be a mechanism for determining whether a subsidiary is an operating company (for which an ordinary loss may be allowed) or a holding company (for which no ordinary loss is allowed), and Sub was clearly an operating company that performed significant services in conjunction with the banking transactions that yielded interest income and gain. IRS found that the legislative history of Code Sec. 582(c) further indicates that, for operating banks, gains from transactions involving items of indebtedness are more appropriately treated as yielding ordinary income since these items are akin to inventory or stock items. Thus, IRS reasoned that such gains from such transactions shouldn't be treated as passive for purposes of Code Sec. 165(g)(3)(B) . § 165 Losses.

Parent has until last day of Tax YEAR 2012 to realize the Ordinary Loss on the Books of the WMIH

Until then... WE WAIT !!! Sorry it was so long, but it is important that we look ahead and not back.

~Don~

#23602

WMIH: Fechas CLAVE (20 Septiembre a 31 Diciembre 2012)

Este es un post muy informativo y bien pensado por Don. Gracias a Spot por volver a publicarlo aquí. Siempre ha sido mi creencia de que aquellos que estaban centrados únicamente en el valor o el valor potencial de las pérdidas de explotación netas estaban ladrando al árbol equivocado. Las pérdidas de capital / Ordinario es donde vamos a poder realizar efectivamente un valor significativo. Miles de millones en pérdidas de explotación netas son prácticamente inservibles a menos que sea una maquina de generar ingresos de miles de millones de dólares y WMIH no lo es aun. El IRS ha manejado básicamente el juego a favor de las grandes empresas con mucho dinero cuando se trata de pérdidas de explotación netas, no hay manera de las empresas más pequeñas puedan utilizarlas sin violar de alguna manera una de sus restricciones. Las pérdidas de capital / Ordinario no tienen restricciones y limitaciones, y muchos como Don ha demostrado, que al parecer han cumplido los criterios para hacer uso de ellos.

Ahora es sólo una cuestión de ganarle al reloj. Se debe conseguir en algún momento entre 20 de septiembre (el día después del período de 6 meses después de finalizado el plan de la fecha de vigencia) y 31 de diciembre de 2012. Un Hedge Fund o un grupo de ellos o alguna otra entidad de gran tamaño que está en silencio al acecho en las sombras que esté interesado en hacer algunos miles de millones rápidas y fáciles en las compensaciones deben hacer un movimiento durante este período de tiempo. Será rápido y sin previo aviso y cuando menos lo esperamos.

He estado en este valor en modo de configurarlo y olvidarse de él desde marzo, pero el último trimestre de 2012 debe ser cuando se destape el telón y esto se caliente. Entonces finalmente comenzaremos a recibir respuestas en cuanto a quién, qué, cuándo, dónde y por qué las cosas sucedieron como lo han hecho desde la equidad a lo largo del paseo. No estoy diciendo que vamos a estar completamente fuera de la oscuridad, pero sin duda esperamos una cierta cantidad de luz que se mostrará durante este período de tiempo.

#23603

Re: WMIH: Noticias "Blackstone asistirá en la Estrategia de Fusiones y Adquisiciones"

News for - (WMI Holdings Corp. Retains Blackstone To Assist With Acquisition Strategy)

WMI Holdings Corp. Retains Blackstone To Assist With Acquisition Strategy)

SEATTLE, July 19, 2012 /PRNewswire via COMTEX/ -- WMI Holdings Corp., (OTC:
WMIH) ("WMI Holdings" or the "Company"), formerly Washington Mutual, Inc., today
announced that it has retained Blackstone Advisory Partners L.P. ("Blackstone")
to assist the Company in developing its acquisition strategy and to provide
financial advisory services in connection with potential transactions.

Under the terms of the agreement, Blackstone will work with the Company to
consider potential mergers, acquisitions or business combinations. Blackstone
will assist with developing an acquisition strategy, identifying and evaluating
strategic opportunities, collecting and analyzing information regarding
potential target companies, determining the valuation of potential target
companies and advising on capital raising, if needed, to fund this external
growth strategy.

Michael Willingham, the Company's Chairman of the Board of Directors, stated,
"Having successfully emerged from bankruptcy, WMI Holdings has substantial cash
and access to a $125 million credit facility to support a growth strategy
through acquisitions and organic initiatives. We look forward to working with
Blackstone to evaluate and pursue such opportunities."

There can be no assurance that any transaction will occur or if so on what
terms.

Blackstone, which served as an advisor to the Company during the pendency of the
Company's chapter 11 proceedings, is one of the world's leading investment and
advisory firms. It provides financial and strategic advisory, restructuring and
reorganization advisory and fund placement services. Since the firm's inception,
Blackstone has advised clients on M&A deals representing over $495 billion in
value and restructuring assignments involving approximately $1.1 trillion of
total liabilities.

Tom Stoddard, a senior managing director of Blackstone Advisory Partners,
commented, "Blackstone is excited for the opportunity to work with WMI Holdings
and looks forward to assisting the Company in evaluating acquisition
opportunities involving strong management teams across a broad-segment of the
marketplace, including opportunities in the financial services sector."

About WMI HoldingsWMI Holdings Corp., formerly Washington Mutual, Inc., consists
primarily of WM Mortgage Reinsurance Company, Inc. ("WMMRC"), a wholly owned
subsidiary of WMI that is incorporated in Hawaii. The primary business of WMI
Holdings is a legacy reinsurance business that is currently operated in runoff
mode by WMMRC.

SOURCE WMI Holdings Corp.

www.prnewswire.com

#23604

Re: WMIH: Noticias "Blackstone asistirá en la Estrategia de Fusiones y Adquisiciones"

Blackstone, KKR, son firmas Top-tier de Fusiones & Adquisiciones (M&A firms). Esta noticia está disfrazando el hecho que Mike Willingham sabe perfectamente bien lo que el quiere adquirir.
Ya que el Capital necesario para las Adquisiciones ya lo deben tener negociado(Preferentes?? que han sido notificadas); de otra manera no habría Nota de Prensa...

Crucemos los dedos a ver si entre 30-60 días se destapa el velo. Aunque si es antes tampoco les vamos a decir que no. :) :) :)

#23605

Re: WMIH: Noticias "Washington Mutual vuelve a la Vida"

http://in.reuters.com/article/2012/07/19/us-wmiholdings-blackstone-idINBRE86I1IL20120719

La idea es encontrar un buen equipo directivo y un negocio con rentabilidad operativa que pueda seguir creciendo, dijo la fuente que el proceso está en su fase inicial.

Lo atractivo de la empresa son sus NOL´s (net operating liabilities), que pueden ser usadas para reducir los impuestos para una empresa con beneficios.

Para lograr esto WMI debería ser el comprador, ya que NOLs no se valoran si la empresa que las tiene es adquirida.
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¿Quien es Blackstone Advisory Partners?
Respuesta: Los que mueven los hilos de las grandes operaciones internacionales

Video John Studzinski (Senior Managing Director): http://www.youtube.com/watch?v=h3JcllyzZp4

#23606

TPG , Jamie Dimon, Henry Paulson le dieron el Banco a los Chinos

TPG JD HP all agree a month before (gives Bonderman a few weeks to "cover"...;)

HP thru SB makes good on a bank for TPG

Blackstone (and others) will funnel the goods to pacify our China friends...;)

11/10/2008
CIC to buy more of Blackstone Group
China’s premier sovereign wealth fund has now opted to follow the “street smart” crowd, raising its interest in the Blackstone Group in the hope of polishing its investment record vis-a-vis the U.S. investment firm.

According to a recent U.S. Securities and Exchange Commission filing, China Investment Corp. and Blackstone Group entered into an agreement Thursday that allows CIC immediately to increase its stake in Blackstone to 12.5%, having initially been limited to 9.9%. Blackstone also agreed that the additional shares bought by CIC or its affiliates are to be free from restrictions on transferal set forth in the original agreement, signed in May last year. Blackstone initially required the Chinese sovereign fund to hold onto its shares for at least four years."

BEIJING, Feb 24, 2010 (SinoCast Daily Business Beat via COMTEX)
Global private equity giant Kohlberg Kravis Roberts & Co. (KKR)is to ink an agreement with TPG Capital, planning to buy a stake held by Morgan Stanley (NYSE: MS | PowerRating) in China SAFE Investments Ltd., a government investment arm in China, with more than USD 1 billion, people close to the matter disclosed.
Pursuant to the agreement, KKR and TPG will hold 50% of a 34.3% stake in the Chinese company. In addition, Henry Kravis, pioneer of KKR, and David Bonderman, pioneer of TPG, are likely to join in the enlarged board of the Chinese company, showing their emphasis on the investment. The board now has five members, including one from the New York-listed company. The move will bring in considerable profits to the share seller so that it can brew the establishment of a new joint venture with China Fortune Securities. In terms of rules, the New York-listed company can gain approval from the China Securities Regulatory Commission on a new joint-venture project until it sells out the stake in China SAFE.

I can hear them now, "the audacity of a bunch of penny vulcher shareholders thinking they can take down our own little world financial cartel"

jpm

blackstone

GS(paulson)

JPM

FDIC(got sucked into it, used like a lil schookgirl)

FED

WGM

SAFE

TPG
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Ahora empieza la nueva Fase de la Reconstrucción del Valor !!!!!

#23608

Re: Huyyyy Curujuuuuuu

Noticias para - (WMI Holdings Corp. Retiene Blackstone Para ayudar con la Estrategia de Adquisición) de WMI Holdings Corp. Retiene Blackstone Para ayudar con la Estrategia de Adquisición) SEATTLE, 19 de julio, 2012 / PRNewswire / - WMI Holdings Corp. (OTC: WMIH ) ("Holdings WMI" o la "Compañía"), antes de Washington Mutual, Inc., hoy anunció que ha contratado a Blackstone Advisory Partners LP ("Blackstone") para ayudar a la Compañía en el desarrollo de su estrategia de adquisición y para proporcionar servicios de asesoramiento financiero en relación con las transacciones potenciales. Bajo los términos del acuerdo, Blackstone trabajar con la Compañía para considerar las posibles fusiones, adquisiciones o combinaciones de negocios. Blackstone va a ayudar con el desarrollo de una estrategia de adquisición, identificación y evaluación de oportunidades estratégicas, recolección y análisis de información con respecto a las potenciales empresas objetivo, la determinación de la valoración de los destinatarios potenciales de las empresas y el asesoramiento sobre la obtención de capital, si es necesario, para financiar la externa la estrategia de crecimiento. Michael Willingham, Presidente de la Compañía del Consejo de Administración, declaró: "Después de haber logrado superar con éxito de la quiebra, WMI Holdings tiene en efectivo importante y el acceso a una línea de crédito $ 125 millones para apoyar una estrategia de crecimiento a través de adquisiciones e iniciativas orgánicas. Esperamos con interés trabajar con Blackstone evaluar y aprovechar las oportunidades de este tipo. " No puede haber ninguna garantía de que cualquier transacción que se produzca o si afirmativo, en qué términos. Blackstone, que se desempeñó como asesor de la Compañía durante la vigencia del capítulo Compañía 11 actuaciones, es uno de los principales del mundo inversión y empresas de asesoramiento. Se ofrece asesoría financiera y estratégica, la reestructuración y la reorganización de asesoramiento y servicios de colocación de fondos. Desde la creación de la empresa, Blackstone ha asesorado a clientes en fusiones y adquisiciones que representan más de $ 495 mil millones en asignaciones de valores y la reestructuración que implican aproximadamente $ 1.1 billones de dólares de los pasivos totales. Tom Stoddard, director gerente de Blackstone Advisory Partners, comentó: "Blackstone está emocionado por la oportunidad para trabajar con tenencias de WMI y espera con interés colaborar con la compañía en la evaluación de la adquisición de las oportunidades de la participación de equipos de gestión fuertes a través de un amplio segmento de la mercado, incluyendo las oportunidades en el sector de servicios financieros ". acerca de WMI Holdings Corp. HoldingsWMI, antes de Washington Mutual, Inc. ., se compone principalmente de WM hipoteca Reinsurance Company, Inc. ("WMMRC"), un cien por cien subsidiaria de WMI que se incorpora en Hawai. El negocio principal de WMI Holdings es una empresa de reaseguros legado que actualmente es operado en el escurrimiento del modo de WMMRC. FUENTE WMI Holdings Corp. www.prnewswire.com --------------- LA PAZ-T Derecho de Autor (C) 2012 PR Newswire.