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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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#23641

WMIH : Fechas a tener en cuenta 22 agosto a 22 septiembre

El 22 de agosto se cumplirán los 6 meses tras el acuerdo para salir de BK y que no podrá ser alterado tras esa fecha. Se libera a todos los malhechores y se abre la veda para generar los máximos retornos a las carteras de Hedge Funds que suman el 75% del total de WMIH.

http://www.kccllc.net/documents/0812229/0812229120319000000000001.pdf

Declaración Mike Willigham

http://www.kccllc.net/documents/0812229/0812229120213000000000021.pdf

Claims podrían ser pagados vía LTI tras el 22 de agosto

http://www.kccllc.net/documents/0812229/0812229120213000000000020.pdf

Entramos en fechas importantes a partir de la próxima semana. Mucha suerte a todos.

#23642

$100 Millones en Reclamaciones no reconocidas. Hearing 14 Septiembre

#23643

Fase de espera de acontecimientos una vez pasemos el 22 de agosto

We'll see movement (up) if we see one of two subsets of things.

1) A concrete buyout offer of some kind is made.
2) A concrete M&A action that brings some income to the table (or perhaps upon announcement of successful capital raising in order to do M&A).

Until one of those points is reached - those making the markets can set prices and share availaibilty where they want. Once one of those things happens - then those trying to hold prices here (if they are actually doing so) can't hold it back any more.

We'll know something when we know something.

I agree that right now we are just waiting to see what happens with the pursuit of an M&A to utilize the NOLs.

JMO (my viewpoint -- nothing to base it on) ~ I believe the BOD will only take on incremental capitalization as they find a deal to fund. Such as ... if Blackstone finds a M&A deal for $500MM, they will raise the capital at that time. They might raise 2 or 3 times the value for future expenses/growth needs but it will be done on a "deal specific" basis.

That type of specific M&A capital raise is more in line with how most companies create growth. We will see a specific deal PPS increase each time that occurs. I just don't expect to see the PPS shoot from $.50 to $25 in one day with a huge capital raise and no specific deal to warrant future earnings. I don't know that those deals ever happen.

As for the buyout ... how much would the HFs have to offer to buy out all the retail shares? Even at 25% or 50MM shares X $20 per share would equal $1B needed. Why not use that $1B to build capital and buy another company with earnings/profits to utilize the NOLs? I understand the 'going private' situation but they are already looking at reduced NOLs due to ownership change, why risk another one by taking WMIH private and again changing the ownership structure? What would be the point of any of this without the NOLs.

#23644

Los empleados de WM Mortgage (nuestra subsidiaria)

Company Name: WM MORTGAGE REINSURANCE COMPANY, INC.
Status: Active Filing Date: 02/28/2000
Entity Type: Domestic Profit Corporation File Number: 118138 D1
Filing State: Hawaii (HI)
Company Age: 12 Years, 6 Months

Mailing Address:
745 Fort St Ste 1100
Honolulu, HI 96813

Be sure to photograph yourself in front of building with a local paper showing a closeup of the date etc. for souvenir purposes and possible Federal Tax Exam.

Registered Agent:
Paul B. Shimomoto
C/o Char Hamilton Yoshida & Shimomoto
737 Bishop St Ste 2100
Honolulu, HI 96813

Lookup Address on Google Maps

SENIOR VICE-PRESIDENT, SECRETARY, TREASURER
Goulding, Jonathan
CHIEF EXECUTIVE OFFICER
Kosturos, William
EXECUTIVE VICE PRESIDENT, DIRECTOR
Logan, Doreen
SENIOR VICE-PRESIDENT, CHIEF FINANCIAL OFFICER
Maciel, John
DIRECTOR
Shimomoto, Paul B
PRESIDENT
Spragg, Daniel
SENIOR VICE-PRESIDENT
Struck, Peter
VICE-PRESIDENT
Suzuki, Dennis
DIRECTOR
Williams, Robert J
SENIOR VICE-PRESIDENT
Wu, Weijia (vicky)

#23645

¿Incentivos de la Junta Directiva? Posible 8K

Bopfan: Now that the confirmation order is irrevocable I expect to see an 8-K setting forth incentive awards for the BOD. I can't imagine capitalization can occur after the BOD gets its option grants; if it did, the strike price would be so high the board members would not be able to capture the rise in value.

Explicación de la importancia de las opciones/incentivos de la Junta Directiva WMIH:

My expectation is that stock options will be delivered BEFORE capitalization. Here's why: if the strike price of an option is $1.25, then if after the options are awarded the stock goes to $15, then MW et al. get $13.75 per share, so if MW has 1MM shares, then he gets $13.75MM. However, if options are issued after capitalization when the stock price is $13.75 and the strike price is $15, then MW and the other board members won't get nearly the return. If MW had 1MM shares when the strike price was $13.75, then @ $15 MW makes $1.25 per share or $1.25MM.

Kingedxxx: At this point, nobody really knows what is going to happen except that WMIH is trying to find a way to utilize its biggest asset which is its NOLs. So far, there have been a few ideas on how that could happen.

Does that mean cash injection via capitalization in some form? If so, how much?
Does it mean that retail will somehow be forced out first?
Does it mean that WMIH will only use some of its current cash and maybe a portion of its line of credit? (Can't do much with that IMO)
Can WMIH even find a viable company with reasonable profits to make use of those NOLs? Can they get that company without paying too much of a premium for it to even make sense?

I do know this much. The four hedgies, AAOC, wanted the reorganized company for themselves and they were willing to give up their equity investment in preferred and common (if they had any common) and were willing to possibly lose a little on TPS holdings (depending on how much recovery JPM was paying in the original deal.) They were willing to risk IT buy sellling more senior notes to get the majority of the Piers and even made sure that the waterfall stopped with Piers. So, these hedgies obviously saw some value with owning reorganized company to go through so much to get it. Again, it sure looks like they had some plan to utilize those NOLs. At this point, we can only wait it out and hope to benefit along with those hedgies.

#23647

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

Mr. Simpson,
Te vuelvo a preguntar en 2007 compré 80.000 preferentes al 7.25 en que se convirtieron en 2008 y cuantas WMHI debo tener hoy. Gracias