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

Timing of WMIH acquisition/merger announcement

KFN tiene la reunión con accionistas el 30 de abril para cerrar fusión con KKR.

http://ir.kkr.com/kfn_ir/kfn_releasedetail.cfm?ReleaseID=835103

I know we are all anxious to hear the first acquisition/merger news from WMIH. While there are several possible reasons to cause this merger to be delayed, my take is that the delay has no impact whatsoever with the growth of WMIH in the future, in particular for WMIH to grow to be large enough to be able to merge with a KKR subs. Why is that? It's because the company that WMIH will merge with already exists and it is growing its revenue as well as customers everyday. That company does not depend on WMIH in order to grow. At some point, the merger will happen and WMIH will reap the benefits from the business of the other company while the other company will gain the benefits of WMIH NOL. In the mean time, the other company continues to grow everyday and so the target date for WMIH to grow to certain size will not be affected. And so I think that KKR and WMIH are in no rush of finalizing and announcing the merger until certain things are completed.

Possible reasons for merger delay:

- The merger is waiting for some acquisitions/merger by KKR to complete
- The merger is awaiting the approval by the IRS to protect the NOL
- Negotiations with the merger company are still going on

Tranche 4 = Class 16 - Piers aka. WAHUQ
Tranche 5 = Class 19 - Preferreds - WAMPQ, WAMKQ
Tranche 6 = Class 22 - Common stock - WAMUQ

The Tranche system we are using is Tranche 1-6

The Tranche system, is a Bankruptcy distribution tool available to the court which can be used as an alignment of creditor' distributions as assigned by the court ..... (generally' Rule 510 and its subsets are sufficient, .... it's the Law, however, our case was substancially more involved and needed some extreme creativity) ...

Tranche 1 ... completed all responsibilities have been paid

Tranche 2 ... the same ... completed ... (mid 2013)

Tranche 3 ... the same ... completed ... (Nov 2013)

Tranche 4 ... Next up on deck' (RON' distributon this Thursday to remaining LTI holders (piers) )

These numbers are as of the last report we have seen 1/30/2014 ... Tranche 4;

"Remaining Postpetition Interest Claims" (Tranche 4) ... $46,993,921.00 ....... will need to be paid with cash

"Allowed General Unsecured Claims" (Tranches 2-4) ... $3,315,031 .............. will need to be paid with cash

"Capped' Piers Recovery" (Tranche 4) .... ($239,420,211.00) ........................ LTI Interests to receive RON's to be distributed May 1st 2014

The following is the pay distribution .....

- of the first $59.5M to be distributed:
--- 3.6% goes to GUC
--- 96.4% goes to PIERS

- of the next $237M to be distributed:
--- 3.6% goes to GUC
--- 76.6% goes to PIERS
--- 19.8% goes to Senior floating-rate bonds"

( .. Once Tranche 4 is closed .... we' (equity holders) can follow Tranche 5 issues .... Rule 510(b) issues which is where my interests lie ..... right above equity ..)

Tranche 5 ... Rule 510(b) issues

Tranche 6 ... equity distributions simultaneously at the 75% / 25% distributions for Preferreds (P's & K's) and commons (uq's) ..... together, receiving recovery at the same time.

KKR/KFN: 30 abril
PIERS: 1 Mayo

Poco a poco todo va llegando... :)

WMI Liquidating Trust Announces Distribution Of Approximately $106 Million Of Runoff Notes

SEATTLE, April 29, 2014 /PRNewswire/ -- WMI Liquidating Trust (the "Liquidating Trust"), formed pursuant to the confirmed Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code (as modified, the "Plan") of Washington Mutual, Inc., today announced that it will make a distribution (the "Distribution") of approximately $106 million of Runoff Notes, comprising $81 million of First Lien Notes and $25 million of Second Lien Notes, in each case, issued by WMI Holdings Corp., to certain beneficiaries.

In accordance with the priority of payments described in Exhibit H to the Plan, the Distribution will be allocated to claimants in "Tranche 4" in the following amounts: $7 million to holders of Senior Floating Rate Note Claims; $96 million to holders of PIERS Claims; and $3 million to holders of General Unsecured Claims. Outstanding Liquidating Trust Interests ("LTIs") will be reduced by $93 million in total in the following amounts: $6 million reduction of Senior Floating Rate Note LTIs; $84 million reduction of PIERS LTIs; and $3 million reduction of General Unsecured LTIs.

The Distribution will be initiated by the Liquidating Trust on Thursday, May 1, 2014. A large majority of the Runoff Notes will be distributed to individual beneficiary brokerage accounts; however, certain of the Runoff Notes will be certificated and sent to holders who do not maintain a DTC-eligible brokerage account or to the extent a holder did not provide the Liquidating Trust with relevant brokerage account information. Announces separate "Frequently Asked Questions" (or "FAQ") regarding the Distribution will be made available to beneficiaries shortly after the Distribution.

Additional information regarding the Distribution will be reflected on the next Quarterly Summary Report for the period ended March 31, 2014, which will be filed by the Liquidating Trust with the United States Bankruptcy Court for the District of Delaware and the U.S. Securities and Exchange Commission on or about April 30, 2014.

Further information about WMI Liquidating Trust can be found at www.wmitrust.com.

Could you please tell me how are we going to turn our RONs into cash?

Don't worry about it. WMMRC will pay off all those RONs much sooner than you think. WMMRC is not going to pay out 13% interest for very long. This is why you have seen so much of the RONs already paid off and distributed as cash. WMMRC can pay me 13% for three to five years and then send me a nice check for all my notes. Of course, even if they don't pay 13% in cash for the interest and do PIK, they will actually be compounding our interest by giving us more notes earning 13%.

So, in the short term you will have some bonds worth more than your claim. Cool. Over time, you will either receive cash interest payments or more notes as PIK. Then, at some point, you will receive cash for those bonds as WMMRC tries to clear them from the books to eliminate that high interest expense.

Pretty good deal if you ask me!

http://ir.kkr.com/media/media_releasedetail.cfm?ReleaseID=844287

NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)-- KKR & Co. L.P. (NYSE:KKR) and KKR Financial Holdings LLC (NYSE:KFN) today announced the completion of KKR's acquisition of KFN. Common shareholders of KFN, at a special meeting held earlier today, voted to adopt the merger agreement entered into on December 16, 2013, pursuant to which common shareholders of KFN will receive 0.51 common units of KKR for each common share of KFN.

The votes in favor of the merger constituted a majority of outstanding KFN common shares as of the record date of February 26, 2014, including a majority of outstanding KFN common shares held by record holders other than KKR and its affiliates. Approximately 98% of the KFN common shares represented at the special meeting voted in favor of approving the merger.

"Our balance sheet is one of our most strategic assets. Through the KFN acquisition, our book value increases to over $10 billion as of March 31, 2014, and our firm is better positioned than ever," said Henry R. Kravis and George R. Roberts, Co-Chairmen and Co-Chief Executive Officers of KKR. "In addition to adding scale and diversification, KFN's assets bring us greater balance sheet liquidity and yield, which will benefit our unitholders through both an increase in recurring distributions and more capital for growth."

KFN is a subsidiary of KKR following the completion of the merger. KFN's perpetual preferred shares and senior notes, which are listed on the NYSE, as well as its junior subordinated notes, remain outstanding securities of KFN.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR's website at www.kkr.com.

Efectivamente, buenas noticias!!

http://www.wmitrust.com/wmitrust/document/list/2898

" Court Docket: #

Document Name: WMI Liquidating Trust Announces Distribution of Approximately $106 Million of Runoff Notes

Date Filed: 4/29/2014 "

Last WMI LT Press Release

Aún esperando el resto del pago de los PIERS en Cash (si puede ser) y el canje de las RONs por Cash..., pero BUENAS NOTICIAS !!

Besugo no creo que piense lo mismo esto es una tomadura de pelo para los PIERS