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

Maximunae teniendo Wells Fargo como fiduciario ¿Ves correcto esta prevision futura de precios en base al evento pendiente con las DIMEQ?

Numbers that were provided based on distribution on 10/31/11. Only totals here for simplicity.

WAHUQ:
Principal plus FJR (1.9%) = $838m
Interest owed up from CS (if paid) = $529m
Proceeds left for distribution = $309m

This leaves a payout of around 37% to WAHUQ holders. The debtor claims only around 32% which means they have calculated in the slight shortfall to WAHUQ holders (less that $838m available.)

Distribution to WAHUQ shareholders:
$309m x 23m shares = $13.43 / share

Monthly cost due to CS interest:
$529m / 37 months = 14.3m per month

Monthly decrease in distribution:
14.3m x 23m shares = $0.62

In less than 22 months, there will be no money left to Piers for distribution only considering cost of contractual subordination and no other estate costs. If we assume money will come from SNHs to make Piers holders whole as the money first would flow through the estate before reaching equity (according to the Judge's opinion), and contractual subordination is upheld, the WAHUQ has an estimated payout of $13.43 as of 10/31. If it takes six additional months for a plan to be finalized, the Piers would drop by .62 per month leaving a little less than $10 per share.

The Debtor is trying to claim that there may be as much as 30m per month in burn rate which is ridiculous considering noteholders interest accumulating at FJR. Like I said, though, I expect money to come to estate from SNHs that will cover any additional expenses until a plan is confirmed with the additional money flowing to equity.

Payout of 337m to DIMEQ can put a large dent in the above plan UNLESS waterfall reaches equity by at least that amount. If so, then DIMEQ does not affect distribution to WAHUQ. If waterfall only covered WAHUQ with nothing reaching equity, then payout to DIMEQ would wipe out distribution to WAHUQ with only 309m available (309-337m = zero for Hs).

Maximunae dice:

"este litigio contra los hedge puede durar años en apelaciones y pleitos"

Siempre tuve esa sospecha, por intuición (sin ningún tipo de razonamiento especial de mi parte) con respecto a este valor.

Susman and Solomon Billings
9037 Monthly Application for Compensation of Susman Godfrey L.L.P. (Nineteenth) for the period October 1, 2011 to October 31, 2011 Filed by Official Committee of Equity Holders. Objections due by 12/6/2011. (Attachments: # 1 Notice # 2 Exhibit A# 3 Certificate of Service) (Newman, Stacy) (Entered: 11/16/2011)

9038 Monthly Application for Compensation Peter J. Solomon & Company (Twenty-First) for the period October 1, 2011 to October 31, 2011 Filed by Official Committee of Equity Holders. Objections due by 12/6/2011. (Attachments: # 1 Notice # 2 Exhibit A# 3 Exhibit B# 4 Certificate of Service) (Newman, Stacy) (Entered: 11/16/2011)

see that there is a lot of negativity here regarding the settlement term sheet that included some kind of a loan. First of all, this settlement is not the same as the last one. We should not judge this based on the term "loan". It said it was revised, it could be anything for any amount. We should wait and see the actual agreement before we get all upset. Secondly, as said before I do expect some kind of settlement/partial settlement but this can be completely different than the last one, the last one came with a POR 6, while this one is a settlement primarily for IT and currently there is no POR.
I think we are getting issues fixed one by one. For example, we know they tried to fix where we don't have Special K taking care of the litigation trust. Then we have a revised term sheet which means we have more money, probably the new co completely and better loan terms (like a part of the bonds restructured, for example). Thirdly, we don't know the details but since we are appealing the GSA, having this settlement with the HFs does not mean we will have a plan with the GSA and this settlement. We can have an agreement where the HFs and UCC will now help us dismantle the GSA. If that is part of the term, we will have money coming to the estate and JPM/FDIC renegotiate with EC.
I doubt Susman will simply accept a lowball settlement and let commons be cancelled. This is just part of the puzzle and should be viewed as such.
I see further negotiation down the road with FDIC and JPM involved because if we have HFs and UCC and TPS and DIME all over to our corner looking for exit, they will pull JPM/FDIC in after mediation.

The next hedge monkey game is coming

The next one is the "preferreds face and multiple dollars for common or no deal" brigade.

While I am unsure if we will even get to revote, this is the last ditch hope of the monkeys to spread discord and get people to either sell or disrupt an orderly settlement.

See it for what it is. I am going to work very hard to keep a cool head through this process until I understand all the ins and outs. There's will lots of yelling fire in the movie theater at the right moment and if you sell, there won;t be any getting back in.

Rebote de preferentes y comunes, era de esperar despues de semanas de continuas caidas, poco volumen, no es de fiar hasta que aparezca mas papel, no hay noticias que amparen la subida.
Simpson se te escaparon las comunes, las esperabas a 0´04 como muchos, pero el mercado es soberano siempre sorprendiendo.

manzana, eres un vidente..... despues de mencionar "las comunes ya estan muertas por mucho que digan", suben un 20%
JAJAJAJAJA

Manzana espera la defuncion de todas las acciones, para dar su informe final, pero el funeral sera a largo plazo, muchos abogados cobrando por constantes mociones, ellos no tienen acciones pero sus facturas van esquilmando la caja de WMI y seguiran por el mismo camino, el cual interesa a la FDIC principal inductora en el proceso y defendida por la Juez.