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

Simpon no te cabrees y asume tus errores.

http://www.cnbc.com/id/102087919#

WMI Liquidating Trust Files Lawsuit Against Former Directors And Officers Of Washington Mutual
5 Hours Ago

SEATTLE, Oct. 14, 2014 /PRNewswire/ -- WMI 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. ("WMI"), today filed a lawsuit in King County Superior Court in the State of Washington against 16 former officers and directors of WMI (the "Defendants"). The complaint alleges that the Defendants breached their fiduciary duties to WMI and committed corporate waste by squandering the company's financial resources.

On September 10, 2008, the Defendants implemented, approved or acquiesced to a transaction that transferred $500 million of WMI's capital to Washington Mutual Bank ("WMB"), a wholly-owned subsidiary of WMI that was distressed and facing imminent seizure by the Federal Deposit Insurance Corporation (the "FDIC") due to inadequate liquidity. The funds from WMI were already on deposit at WMB, so the transfer increased the amount of regulatory capital on WMB's balance sheet but did not address WMB's liquidity shortage. On September 25, 2008, WMB and the $500 million of capital it received just 15 days earlier from WMI were seized by the FDIC. WMI filed for Chapter 11 the next day.

WMI Liquidating Trust is seeking damages, costs and reasonable attorneys' fees, and other relief as the court deems just and proper, including prejudgment interest at the legal rate.

A copy of the complaint and additional information about WMI Liquidating Trust can be found at www.wmitrust.com.

Contact
Andrew Siegel / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

SOURCE WMI Liquidating Trust

https://www.documentcloud.org/documents/1312819-wmit-v-casey-wa-complaint.html

La demanda de Susman que finalmente se pone a trabajar para generar valor para Escrows.
Debe existir un motivo poderoso para hacerlo ahora y espero que de los testimonios de los demandados salga a la luz los motivos ocultos sobre porque transfirieron $500 Millones buenos a un banco malo que se iba a pique ayudando así a desintegrar WAMU.

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In parallel lawsuits filed Tuesday in King County Superior Court and in bankruptcy court in Delaware,

http://seattletimes.com/html/businesstechnology/2024779561_wamulawsuitxml.html

Originally published October 14, 2014 at 5:55 PM | Page modified October 14, 2014 at 6:02 PM

Trust for WaMu creditors sues former officers and directors

The trust responsible for distributing any remaining assets of Washington Mutual Inc. to unsecured creditors has sued the former directors and officers of the bank holding company, alleging they carried out “a reckless and inexplicable transaction that wasted at least $500 million” of

By Seattle Times staff

The trust responsible for distributing any remaining assets of Washington Mutual Inc. to unsecured creditors has sued the former directors and officers of the bank holding company, alleging they carried out “a reckless and inexplicable transaction that wasted at least $500 million” of its capital by transferring the money to the books of Washington Mutual Bank shortly before the bank subsidiary failed.

Mas vale que rasques algo de los esccrows porque las WMIH estan yendo a la picota, el negocio que vende tiene mas humo que Gowex.

Un día no muy lejano te vas a comer todas estas chorradas que no paras de repetir... acuerdate de esta conversación.

Respuesta del CEO de WMIH a mi email...
Besugo no te preocupes tanto por desacreditar el valor en serio que ya me encargo yo
de asegurarme que todo va a estar bien.

Mr. Mejias,

On behalf of the Board and the company, I want to thank you for your continued interest in WMI Holdings, Inc. As you know, WMI’s business strategy is to grow through the acquisition of other businesses. While we continue to work with investment banking advisors in an effort to identify and evaluate strategic opportunities across a broad array of industries, regrettably we are unable to provide further guidance as to the extent of these efforts unless and until such time as definitive documentation regarding any such acquisition target has been executed.
As you note, in January 2014, KKR invested in our company. The announcement and description of that investment is attached here. http://www.sec.gov/Archives/edgar/data/933136/000119312514030869/d666285d8k.htm. Indeed, information regarding the Company that has been issued the Company is posted regularly on the SEC’s website at www.sec.gov .
We appreciate your continued investment in the Company. Thank you.

Kindest regards,

Chad Smith
Interim Chief Executive Officer

WMI Holdings Corp.
1201 Third Avenue, Suite 3000
Seattle, Washington 98101

Telephone: 206.432.8731
Facsimile: 206.432.8879
Mobile: 206.661.2310
Email: [email protected]
Email: [email protected]

http://www.bloomberg.com/news/2014-10-15/kkr-judge-throws-out-investor-suits-over-kfn-unit-buyout.html

http://www.bloomberg.com/news/2014-10-15/kkr-judge-throws-out-investor-suits-over-kfn-unit-buyout.html

Investors in a unit of KKR & Co. (KKR) can’t challenge the private-equity firm’s $2.6 billion buyout of the publicly traded credit business KKR Financial Holdings LLC as an insider deal, a judge concluded.

KKR’s acquisition of KKR Financial, commonly known as KFN, in an all-stock deal, didn’t amount to a controlling-shareholder buyout that shortchanged investors, Delaware Chancery Court Judge Andre Bouchard ruled. KKR officials said in April that 98 percent of KFN investors approved the deal in a shareholder vote.

The ruling comes less than two weeks after KKR and other buyout firms such as Blackstone Group LP (BX) won initial approval of a settlement of investor suits claiming the companies colluded to hold down the value of acquisitions. A federal judge in Boston gave preliminary authorization for the $590.5 million settlement on Sept. 30 and set a hearing on the accord’s final approval for Feb. 11.

“It is not reasonably inferable from the complaint that KKR was a controlling stockholder of KFN,” Bouchard said in his 42-page ruling. Investors argued the buyout amounted to an insider deal that shortchanged shareholders.

Kristi Huller, a spokeswoman for KKR, didn’t immediately respond to a call seeking comment on Bouchard’s decision to throw out the suits over the deal.

Control Issue

Lawyers for KFN investors said in court filings that under the unit’s management agreement with KKR, the buyout firm handles all operations and KFN has no employees.

The company was set up in 2004 as a mortgage and real estate-investment trust and sold its shares to the public the following June, raising more than $800 million.

KFN directors acknowledged they are “totally reliant” on KKR for information about the value of the holding company’s investments, Stuart Grant, an attorney for some KKR shareholders, argued at a hearing in July before Bouchard.

KKR’s attorneys countered that the private-equity firm owns less than 1 percent of KFN’s stock and has no power over KFN’s directors.

Bouchard found investors weren’t able to properly challenge the deal on the grounds that KKR controlled KFN’s board and the unit’s directors were beholden to the private-equity firm.

‘No Concern’

“KKR’s less than 1 percent position in KFN obviously would create no concern in the mind of KFN’s directors that KKR possessed sufficient voting power to remove them from their positions if they rejected the merger proposal or took any other action KKR did not like,” Bouchard said.

The judge also found the deal wasn’t tainted by conflicting interests among a majority of KFN board members and the acquisition was approved in shareholder vote.

The buyout “was approved by a majority of the shares held by disinterested stockholders of KFN in a vote that was fully informed,” Bouchard said.

The case is In Re Financial Holdings LLC Shareholder Litigation, 9210, Delaware Chancery Court (Wilmington).