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

PIERS are currently owed about $4.33 per PIERS via their LTIs.

If the $34 million (37 - 3) truly will be unrestricted then that should be used to pay into tranche 4, which includes PIERS, of the LT waterfall.

According to the latest LT quarterly report, PIERS will receive 77.3% of the next tranche 4 cash distribution, which would mean $26.3 million for PIERS, or about $1.14 per PIERS (@ 23 million PIERS).

http://www.sec.gov/Archives/edgar/data/1545078/000090951815000162/mm06-0115_8ke101.htm

Pursuant to the terms of the RSA, the parties have agreed, among other things, that, of the $37,000,000 that had been required to be paid to the Trust pursuant to the Settlement Agreement, $3,000,000 will be placed into a segregated account (the “Reserve”) to be used to reimburse the Appellants for the reasonable fees and expenses incurred by them in the defense of any action or investigation commenced prior to September 26, 2018 by the United States of America against one or more of the Appellants asserting claims and causes of action under the Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub.L.No. 101-73, 103 Stat. 183 (1989). Unless sooner released in accordance with the terms of the RSA, if no such action or investigation is commenced prior to September 25, 2015, September 26, 2016, September 26, 2017 or September 26, 2018, then $500,000 of the Reserve will be released to the Trust within three business days of each such date.

http://www.marketwatch.com/story/jp-morgan-wins-legal-battle-in-washington-mutual-case-2015-06-03?mod=mw_share_facebook

JPMorgan wins legal battle in Washington Mutual case that could ease burden by billions

AAhaaa. Yes! REMIC trust liabilities that DB is claiming, are associated with the 'receivership interrupted' swapping in/out duties of the entity in custody of the pledged mortgage assets.... remember? swap out the non-performing for the performing. JPM is servicer of WAMU loans, not in possession of. The swap liabilities per the prospectus' are the sole liability to the owner/custodial pledge of these mortgage assets.

I believe, the FDIC receivership interrupted WAMU as servicer and custodial, so that DB's REMIC 'income conduit' stream was affected when the owner of the notes (WAMU entities) couldn't perform its swap out duties due to the receivership. DB needed to sue and claim for worst case scenario, to recover any lost revenue from the receiverships impact, on their REMIC income conduit.

This is excellent confirmation to me as to the ownership of these loans, if the FDIC is liable. If JPM bought ALL the loans as some claim, JPM would have the swap liabilities!!!

So, OK Mr FDIC, take something out for ol DB, I doubt the claims are as high as they had to guesstimate years ago..........any way, there are less than $25 Billion in claims against WMB entities, (WMB, WMBfsb, Thackeray, WAAC, WMMSC, etc) subtracted from the massive $240 Billion mortgages 'held in portfolio'.

Great news to me!!! IMO

Niceee! This seems good news. Another roadblock gone. This was the event we waited so long for to happen.

Why do you think they stretched this one out for so long? For as long as I recall since reorganization of WMIH JPM and FDIC have been fighting over this issue.

Timing is lining up here folks:

- First the D&O Settlement announcement
- WaMu assets on JPM's 10k of 2014
- Then the March WMI LT PR
- Then reincorporation in Delaware
- Then the golden parachute ruling
- Then expungement of practically all FDIC and JPM unsecured claims, of which the FDIC is 27 billion.

It's actually mindblowing how much progress there is made since the 3 year mark (19th of March 2015). Think about what the hell happened since then and where we are heading next.

This decision by Collyer is IMO big news. It says to me JPM was never liable for these assets because they've never owned them OR they were liable BUT had to return the assets to FDIC Receiver for whatever reason (which can have a multitude of reasons BTW).

The good news is JPM is not liable so the REMIC trusts are not JPM's after all. And FDIC is not gonna appeal anything.

Excited how much cash there is left in receivership after the settlement with Deutsche Bank!

Very Interesting Filing! WaMu Executives voluntarily DISMISS APPEAL of "golden parachute" denial ruling! ...

PLOT QUICKENS: former WaMu Executives voluntarily DISMISS APPEAL of "golden parachute" denial ruling... The pace to "post to close" is moving at "speed of light" (relatively) now... Don't be left out in the cold not holding any WMIH... those investors holding Escrows will be afforded room next to the fireplace!

6/5 Joint Stipulation of Voluntary Dismissal of Appeal with Prejudice
(OUCH - lol, "Each of the parties shall bear its own costs)

http://www.kccllc.net/wamu/document/0812229150605000000000001

Breve resumen en castellano Simpson. Q no entiendo ni papa, je,je.
Gracias

http://finance.yahoo.com/q?s=wmih Os paso los datos de WMIH (WMI Holdings) una empresa que está en fase de despegue tras la entrada de KKR que es una de la mayores empresas de Private Equity del mundo. Han invertido $700 Millones en el último año y espero noticias durante este verano que la lleven a niveles de revalorización importantes. Se dedican a la compra de paquetes de hipotecas comprados a precio muy bajo y revendidos por ellos mismos con una bolsa de beneficios fiscales para minimizar el pago de impuestos de $5970 Millones de dólares. Ayer cerró la cotización a $2.77 y preveo ganancias con el valor y también en la depreciación del euro por el tema Grecia. El 5 de enero se publicó esta noticia en la que KKR (Top 1 Private Equity mundial) y Citigroup invertían $600 Millones dólares (100.000 millones de las antiguas pesetas) Por una empresa salida de la Bancarrota hace 3 años. Si estos peces gordos han entrado solo puede ser por un motivo $$$$$$$$$$$$$$. Noticia: Inyección $600 Millones en Preferentes en WMIH. Citigroup $400 Millones y KKR $200 Millones http://www.prnewswire.com/news-releases/wmi-holdings-announces-completion-of-private-offering-of-600000-shares-of-300-series-b-convertible-preferred-stock-300015881.html Aquí los formularios SEC que lo demuestran: http://www.sec.gov/Archives/edgar/data/933136/000110465915001045/0001104659-15-001045-index.htm http://www.sec.gov/Archives/edgar/data/933136/000110465915001040/0001104659-15-001040-index.htm http://www.sec.gov/Archives/edgar/data/933136/000110465915001042/0001104659-15-001042-index.htm Noticia viernes 27 febrero 2015: http://ih.advfn.com/p.php?pid=nmona&article=65667428 Crearan hacer una primera M&A (Merger or Acquisition) durante el verano de 2015. Pienso hay que posicionar se YA puesto que el anuncio o PR ocurrirá muy pronto que haga despegar el valor. ¿Quién es KKR? Os paso un Video de Henry Kravis… https://www.youtube.com/watch?v=OtKizreanP0 http://www.sec.gov/Archives/edgar/data/933136/000119312515186101/0001193125-15-186101-index.htm 8-K: WMIH DELAWARE HERE WE COME... The following key points & the 8-K provides news to pull the trigger because all the BOD members have their portion allocated. So from this point we move higher before listing. WMIH Delaware: Check ! More than 700 Million capitalization series "A" and "B" P's) Check ! 3 years required for section 382 limitation of the IRS : Check ! New CEO: Check! New BOD Members: Check! Bonus Plan for CEO: Check! KKR http://www.bloomberg.com/news/articles/2015-05-11/kkr-said-to-seek-up-to-12-billion-for-north-america-buyout-fund http://whalewisdom.com/stock/wmih ¿Quién ha comprado WMIH? Lista de peces gordos o ballenas como se conocen en el mundillo de la bolsa.

Hedge Funds posicionados en WMIH

Quote from: CSNY on Today at 09:54:38 AM
If AZ is on the right track about LT assets being in WMIH's future, I think KKR's $10MM initial commitment (announced 12/9/13 and consummated on 1/31/14) was an option purchase because the recovery value of illiquid assets was speculative. (There was a precursor to the 2014 R-203 in JPM's 2013 10-K which similar numbers.)

Coincidentally the $600MM deal was announced in late December 2014 three months after the PAA expired, and consummated five days after the end of JPM's reporting period, on 1/5/15, which suggests the LT got more information after the PAA's expiration. If illiquid property was forthcoming the date of reckoning (i.e., receiving whatever was to be received) was closer and worth a larger investment, which for KKR got magnified 20x to $200MM and attracted Citi's $400MM.

Ron asserts that when the 3/25/15 press release was issued the LT knew $ and illiquid property would arrive on or around 4/1/15 (i.e., after the first quarter). We haven't heard a peep but the LT will have no justification for keeping silent after 6/30/15. Moreover, roughly 90 days will have passed for review of any illiquid assets by both sides to a LT/WMIH transaction, and any cash will have to be disbursed by late June - early August. Finally, 6/30 will be five days before the 7/5/15 drop dead date which became obsolete after the SM in April. Perhaps that date has greater significance.

As time passes I become increasingly convinced that, yes, that $10MM was just throw away money KKR was willing to risk to get first dibs on exploiting a potential bonanza.

As for the $568MM, that's liquidity to set up a structure and peanuts compared to what KKR and Citi expect to gain.

Well, ... obviously, ol' AZ believes he is on the right track, post reorganization and after three years of serious study and research of the filings and the document dissections, are the reasons that ol' AZ remains heavily invested' ... the sequence of events and time lines are just not coincidental' ... again' ... in its simplest form ? This is what Plan 6 had designed' ... except, now with the adjustments to include class 19 and class 22 ~ equity ~ The now approved' Plan 7

I believe you to be correct, when you mention the KKR' initial commitment (12/9/2013) ... at that point in time' ... the Purchase and Assumption Agreement was still an open contract' between the FDIC and JPMorgan' ... anything was possible' up to and until the contracts termination ... the final calculations would have merely been speculative at that current point in time' ... legally, everything is determinative to, "current point in time" ... a presenter can only speculate regarding the future'

Now, here we are at this current point in time' ... The Liquidating Trust does not publically trade, so it is under no legal obligation to file 8-K's ... it can if it chooses to' ... but that is all ... regarding the silence ? ~ I believe the silence regarding both' the LT and WMIH to obviously be connected regarding a future event'

it should now be obvious to all' that WMIH was never merely a shell corporation with only the utilization of some net operating loss tax advantages against future possible earnings, ... that ship sailed quite awhile ago' ... This whole deal is much, much larger' as I have been saying since mid 2012'

Regarding the FDIC ? ... well according to their own disclosures' stated within their own public site' ... cash ... in excess of $25.00 being held must be returned to an original debtors estate in a timely fashion''

So' ... Yes' ... in my opinion ? ... there will be cash returns first, which are, obviously an easy distribution' ... followed by the return of all' illiquid assets' ... to be also returned to the liquidating trust' ... continuing, ... the illiquid assets being returned to the LT, ... is what our new company WMIH' ... is currently in stand by mode, and at the ready to help out ... "everybody wins financially" ...

AZ

My one qualifier is that WMB property will remain in R until procedures are completed (with DB still illiquid it could be quite a wait); non-WMB property (liquid and illiquid) will be released.

simpson, perdona y que no te siente mal.
Menudo tostón esos pedazo post que cuelgas en ingles.
Algo en castellano y resumido, por favor.
Lo dicho, no te lo tomes a mal.
Un saludo