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

Got this email from John Maciel ([email protected]):

Dear Erik,

David Sharp forwarded me an email from you. Let me see if I can answer your question.

I’m assuming that the 20.7 billion you are referring to is the retained earnings number in the distributions to LT column. The column itself represents the assets and liabilities that go to the liquidating trust. But the $ amount used for equity is a historical accounting balance and does not represent an outstanding balance to collect from the trust. Even though equity interests have outstanding claims against the LT, the $ amount was booked to clear out historical balances and maintain a balanced balance sheet.

Should any value be available for equity interests after Creditors and Subordinated claim holders are paid in full, equity holders will share in the value in accordance with the plan but based on the number of shares owned as of the Record date, not a $ value.

Not sure if that answers the question but let me know if you need more.

Best regards

JOHN MACIEL
Chief Financial Officer -- WMI LIquidating Trust
Senior Director -- Alvarez & Marsal

In reply to:

From: Erik Brinkman [mailto:[email protected]]
Sent: Tuesday, April 10, 2012 4:36 PM
To: David M. Sharp
Subject: FW: Question about the Liquidating Trust

Dear Mr. Sharp,

Forgive me for disturbing you again with my questions. But, the email-adress [email protected] still doesn't work.

I've contacted you earlier and you replied that you would forward the question to the people from the liquidating trust. Alas, my answer hasn't been answered yet.

The question was about the latest MOR (filed on (3/30).

Is it true that there is roughly 20.7 billion dollar distributed to the liquidating trust?

Greetings,

Erik Brinkman

Press Release: WMI Holdings Corp. – 1 hour 16 minutes ago.. .
SEATTLE, April 16, 2012 /PRNewswire/ -- WMI Holdings Corp. (Pink Sheets: WMIH.PK) (the "Company"), formerly Washington Mutual, Inc., announced today that the Audit Committee of the Company's Board of Directors approved the appointment of Burr Pilger Mayer, Inc. as the Company's new independent registered public accounting firm, effective as of April 10, 2012, to perform independent audit services for the Company.

Mike Willingham, Chairman of the Board of Directors, stated, "We are pleased to have Burr Pilger Mayer, Inc. engaged as the Company's new auditors to provide audit services in connection with the audit of the Company's financial statements. We look forward to working with our new auditors."

The Company also noted that it has become aware that its new common stock is trading on the pink sheets on an unsolicited quote basis, even though the Company has not taken any steps or actions to list or otherwise facilitate any trading in its common stock. The Company reminds shareholders and investors that it has no control over the trading of its securities on the pink sheets, except for the restrictions on transfers contained in the Company's Amended and Restated Articles of Incorporation (the "Articles") and the Company's Amended and Restated Bylaws (the "Bylaws").

As previously disclosed, the Company's Articles and Bylaws impose significant transfer restrictions on the Company's new common stock. These court-approved transfer restrictions have been adopted in order to protect the Company's ability to utilize significant net operating loss carry-forwards under and in accordance with regulations promulgated by the Internal Revenue Service. Specifically, among other things, without the consent of the Board, these provisions (a) restrict the ability of a shareholder to acquire or own more than 4.75% of new common stock and (b) restrict the ability of a shareholder to dispose of new common stock if such shareholder owns, as of March 19, 2012, the date the Company emerged from bankruptcy, more than 4.75% of new common stock. The Articles provide that transactions in the Company's new common stock in violation of these transfer restrictions will be void.

These transfer restrictions are set forth in Article VI of the Articles and Section 9.9 of the Company's Bylaws. All shareholders and investors are advised to review the restrictions on transfer contained in the Articles and Bylaws. A restricted legend has been placed on certificates representing the Company's new common stock. You also should consult with your legal, financial and tax advisors with respect to how these transfer restrictions potentially affect your holdings of or investment in new common stock.

As previously disclosed, the new Board of Directors has formed a Corporate Strategy & Development Committee to explore opportunities available to the Company to deploy its assets and enhance shareholder value.

En 2007 compré 80.000 Pref USG#9463 y ahora mi broker dice que se convierten en 1.584 de WMIH es correcto ??? Espero vuestras sugerencias.

Toc,toc, el foro se acaba poco a poco, poco a poco, zzzzzzzzzzzz :)

Hola Manzanita: Tienes alguna novedad ke comentar?

Manzana: estoy bastante inmerso en mi nuevo proyecto ahora así que hasta que no haya nada nuevo que reportar de importancia permaneceré al margen del día a día del que estoy seguro alguien más puede llevar la batuta.

Lo dije cuando salimos de BK y lo vuelvo a repetir hoy...estas aciones daran una alegría entre los 6 meses a 2 años para cumplir con la normativa 382. Los Hedge Funds no entran en un valor para no ganar dinero así que la paciencia es un plus y más ahora...

Hola amigo.

Eso que dices es depende de como se vea. Hay muchos valores en los que los HF entran esperando perder dinero Y la razon es que no hay 1 solo HF serio que opere al descubierto. Todos hacen algun tipo de arb o hedge o spread Pero jamas al descubierto. Te digo esto, porque llevarse de los Hedge Funds es extremadamente peligroso. pueden estar long WAMU sabiendo que van a perder dinero ahi, pero estar long otro banco que tiene una correlacion interesante.

PD: los unicos que operan al descubierto (o long O short) son los retails traders con los analisis tecnicos o fundamentales que no es mas que vodoo finance.

Hola geoff007.

Al hilo de los HF's que operan al descubierto , david einhorn en su libro dice que él SI que opera al descubierto pq considera ineficiente ponerse short en algun valor simplemente para cubrir la posición.

Por otro lado , SAC ( steve cohen ) en una entrevista dijo que hasta finales de 1999 su estilo era swing trading , no market neutral. Y actualmente utiliza technical analysis y sobretodo fundamental analysis puesto que las posiciones las mantiene mas tiempo.

Los que hacen convertible arbitrage no operan al descubierto pq se ponen long en bonos y short en acciones , pero que me dices de los distressed funds? por ejemplo david tepper compró millones de prefered shares sobre BAC , Citigroup ...en marzo 2009.

¿ cual es tu punto de vista ?

gracias