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

CSC was renamed "Delaware Trust Company"

CSC Trust Company of Delaware
2711 Centerville Road, Suite 400
Wilmington, DE 19808
Attention: Trust Administration
Fax: 302-636-8666
Email: [email protected]

http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=37123657

¿Delaware? 28 Abril Junta de accionistas que votaran a favor de reincorporarnos...
ejem ejem

http://www.sec.gov/Archives/edgar/data/933136/000090951812000131/mm03-1212_8ke101.htm

WMI LIQUIDATING TRUST AGREEMENT, dated as of March 5, 2012 (this “Trust Agreement”), is by and among Washington Mutual, Inc. (“WMI”) and WMI Investment Corp. (“WMI Investment” and, together with WMI, the “Debtors”), as debtors and debtors-in-possession, William C. Kosturos, as liquidating trustee (together with any successor or additional trustee appointed under the terms hereof, the “Liquidating Trustee”), and CSC Trust Company of Delaware as the Delaware resident trustee (together with any successor Delaware resident trustee appointed under the terms hereof, the “Resident Trustee” and collectively with the Liquidating Trustee, the “Trustees”) of the WMI Liquidating Trust (the “Liquidating Trust”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Debtors’ Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, dated December 12, 2011, as confirmed (including all exhibits thereto, as the same may be further amended, modified, or supplemented from time to time, the “Plan”).

http://wmiholdingscorp.com/wp-content/uploads/2015/03/2015-Proxy-Statement.pdf

WMI Holdings Corp.

To our shareholders:

Over the last year, the Board of Directors and management of WMI Holdings Corp. continued to focus on our primary strategic objective of identifying, considering and evaluating potential mergers, acquisitions, business combinations and other strategic opportunities. As you know, the Company has not yet consummated a transaction, but identifying viable strategic opportunities remains the key focus of the Board of Directors and management.

During 2014, we significantly improved the Company’s capital structure. These efforts included an $11 million investment by KKR & Co. L.P. and affiliates in January 2014 and we were pleased to announce in December the sale of 600,000 shares of a newly created series of convertible preferred stock designated as 3.00% Series B Convertible Preferred Stock. This offering, which included an anchor investment by an affiliate of KKR and raised $600 million in gross proceeds for the Company, provides the Company with additional capital to explore
and fund, in whole or in part, acquisitions. We believe having this additional capital should enhance the Company’s ability to execute on its strategic objectives as we continue to explore acquisition opportunities.

As part of the offering of the Series B Convertible Preferred Stock, we also announced that, upon approval of our shareholders, the Company intends, among other things, to reincorporate as a Delaware corporation and expand the membership of our Board of Directors. Such expansion will include adding two representatives from KKR.

KKR’s global network of relationships, deep expertise in transaction execution, portfolio management, capital raising and operational improvement should augment our ability to execute on our acquisition strategy. Upon reincorporation we also will be adding two executive directors – William Gallagher and Thomas Fairfield – to the Board of Directors. Messrs. Gallagher and Fairfield will dedicate their efforts on behalf of the Company to
developing and executing on the Company’s acquisition strategy. We believe these actions, taken together, will enhance our ability to build shareholder value.

During 2014, management achieved significant financial savings in our capital structure, specifically as it relates to the Company’s debt profile. Of particular importance, during 2014, we reduced the $110 million original principal amount of Senior First Lien Runoff Notes from approximately $80.6 million to $3.0 million and we expect to payoff all of the Senior First Lien Runoff Notes on or about April 15, 2015. Since emerging from the
Company’s Chapter 11 proceedings, the reduction of outstanding principal on Senior First Lien Runoff Notes has resulted in significant interest expense savings for the Company totaling approximately $18 million. And, for the second consecutive year, the Company has realized an operating profit. The operating profit for the year ended December 31, 2014 totaled $3.1 million as compared to an operating profit of $0.3 million for the year ended
December 31, 2013.

In closing, the Company’s transition to a robust platform for delivering significant shareholder value is ongoing. We believe the actions we have taken, and will continue to take, underscore our continuing commitment to achieving the Company’s strategic objectives and we thank you for your ongoing support.

Sincerely,

Michael Willingham, Chairman
Charles Edward Smith, Interim CEO & Secretary
WMI Holdings Corp. WMI Holdings Cor

10K - WMI LIQUIDATING TRUST
http://www.secinfo.com/d14D5a.m3FFk.htm#_toc875724_7

Net assets available to Liquidating Trust Interests 92.1 million
Outstanding LTI Balance (in millions) 126.6
---------------------------
So LT needs to make up 35 Millions in order to distribute LTIs for Class 19 WAMPQ-WAMKQ & Class 22 WAMUQ
Estamos MUY CERCA.

WMI Liquidating Trust FAQ: https://www.kccllc.net/documents/8817600/8817600140501000000000003.pdf

FELIZ SEMANA SANNTA

Feliz Semana Santa Mr_Simpson y a todos. No perdamos la esperanza!

BlueeFoxx Member Level Friday, 04/03/15 04:21:31 PM

IMHO ...I think it would be better for all involved if we just quit posting dates we think anything will happen with anything remotely related to the old BK case and the New WMIH. Here's what we know per public filings.

1. We know there is a shareholder meeting on April 28th. With pref voting it is adone deal what BOD wants. Time to ride KKR coattails.

2. We know the pref contracts states "uplisting within 6 months of closing. Cutoff date is July 5, 2015.

3. We know pref contract gave us 563M in cash. Warrants 60.4M shares at $1.38 can now be exercised by KKR because we have passed the 3-year exit date per IRS 382 Rules. Can all be used to fund an acquisition.

4. We know to comply with contract language in Pref contract. WMIH must acquire an uplisted company by 6 months or at the very least use the existing assets and cash to petition the NYSE to uplist as an SPE. (Special Purpose Entity) to be an acquisition entity that is allowed per NYSE rules.
See link below.

5. We know KKR/CITI can not convert pref to equity until the shareholders have approved the move to Delaware which opens the door to equity increase, more capital access,new board members from pref partners and a new CEO/COO both ex-Capmark officers of same position who resigned their positions in Nov 2014. Charles Smith will no longer be in that position. I have not liked him since he spoke out against shareholders in BK in Dec 2011 and sounded very incompetent.

6. We know the pref must convert by 6 months unless extended by pref partners. We also know they cannot convert until merger. So it has to be completed by July 5. Unless extended by all parties.

7. We now know why the LT was holding back the 2.9 Million WMIH shares and that once the appeal by the "non-settling parties" is denied, the shares will go to the LT Interests holders. i.e Escrows. Which you always say you love so much. In time we could see some $$$ from LT, but the setaside funds for leftover BK claims is dwindling pretty fast and MARTA/Boilermakers in Class 18 may rear their ugly heads if there is any extra funds that could funnel to the LTI's.

8. We know the FDIC website does not lists any other assets the receivership has, other than rhe 2.2 Billion in the fund. When asked by letter the FDIC lawyer states "JPM purchased the whole bank, all assets and liabilities." This is the answer from the attorney.
So what we know is WMIH is required per a legal contract to get it all done by July 5, 2015. This we do know!

IMHO I will not use any speculative dates in future, because this is a very convoluted case.

Very Complex.
Cheers
Happy Easter
Blue/Don/Fsshon

http://www.alvarezandmarsal.com/bill-kosturos

Here is my take on this announcement. First of all these corporate honchos wear different hats and titles for various companies. Federal Reserve Bank District 12 which is San Francisco, encompasses all the Western states. Hence when the WMBs and WMI in NV,UT, and WA were under that jurisdiction. so when their assets were assimilated on behalf of FDIC-R it was FRB,SF that got physical possession of them. Also it was Kosturos and A&M in the Fall of 2008, that were involved with the transfer of assets. So now it has come full circle and the assets due WMILT will be reconciled with Kosturos, A&M and FRB,SF. I believe the three entities have the missing "scrivner's error" list of assets. So in my opinion, I believe that asset return to WMILT and hence our escrows is imminent.

From WMILT 10K 12/31/14 (http://www.secinfo.com/d14D5a.m3FFk.htm#1stPage)
Since June 2002, Mr. Kosturos has been a Managing Director at Alvarez & Marsal North America, LLC (“A&M”). Mr. Kosturos specializes in interim management and advising and assisting boards of directors, investment groups, management groups and lenders in a wide range of turnaround, restructuring and reorganization situations.

AND

10.2 Engagement Letter between WMI Liquidating Trust and Alvarez & Marsal North America, LLC, dated as of March 29, 2012, as filed with the Securities and Exchange Commission under cover of Form 8-K by WMI Liquidating Trust on April 4, 2012.

Just sayin.

http://www.prnewswire.com/news-releases/wmi-liquidating-trust-provides-information-on-escrow-cusips-300055333.html

SEATTLE, March 24, 2015 /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 provided additional information regarding certain Escrow CUSIPs issued to eligible former shareholders of WMI. Eligible former shareholders are those who timely submitted relevant documentation, including the release required under Section 41.6 of the Plan.

As of the Effective Date of the Plan, Depository Trust Company ("DTC") established and maintains positions in the Escrow CUSIPs. These Escrow CUSIPs represent nominees' positions that would be used to make future distributions, if any, of common stock issued by WMI Holdings Corp. ("WMIHC"). Pursuant to the Plan, such shares of WMIHC's common stock were deposited in the Disputed Equity Escrow established in accordance with the Plan and are to be maintained in the Disputed Equity Escrow until such time as Claims involving Disputed Equity Interests are either allowed or disallowed.

Upon resolution of those Claims, the related portion of the shares maintained in the Disputed Equity Escrow will be distributed to the claimant holding the newly allowed claim or, if the claim is disallowed, the related portion of the shares will be redistributed to beneficiaries of the Trust in accordance with the distribution mechanics set forth in the Plan. In the event any future distributions of WMIHC common stock are made from the Disputed Equity Reserve, DTC will be instructed to allocate such common stock to each of the Escrow CUSIPs on a pro rata basis.

As stated above, the Escrow CUSIPs were established for any potential distributions of shares of WMIHC common stock. The only source of common stock available for any such a distribution would be from the 2.9 million of shares remaining on deposit in the Disputed Equity Escrow. Specifically, the Escrow CUSIPs do not, in and of themselves, entitle their holders to any possible future cash distributions from the Trust, WMIHC or the Federal Deposit Insurance Corporation (either in its corporate capacity or as the receiver for Washington Mutual Bank).

The Trust will issue Liquidating Trust Interests to WMI's former shareholders if the Trust is able to monetize Liquidating Trust Assets in amounts sufficient to pay-in-full claims held by beneficiaries of the Trust who are senior to members of Classes 19 and 22, and if a shareholder satisfied all conditions applicable to receiving any such Liquidating Trust Interests. There can be no assurances that the Trust will be able to monetize assets in a manner sufficient to give effect to the foregoing.

The Trust discloses the status of its operations (including the status of pending litigations) and unaudited financial information in a Form 10-K filed annually with the Securities and Exchange Commission. In addition, the Trust files a Quarterly Summary Report with the Bankruptcy Court and under Form 8-K with the Securities Exchange Commission.

Capitalized terms used and not otherwise defined in this Press Release have the meanings given to such terms of the Plan. The Plan and additional information about WMI Liquidating Trust can be found at www.wmitrust.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain certain estimates, statements of belief and assumptions that may be deemed to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and/or covered by the "Bespeaks Caution" doctrine applied by the courts under the antifraud provisions of the federal securities laws. Such forward-looking statements are based on current plans, expectations, estimates and beliefs about the value of the assets of the Trust. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future payments to holders of beneficial interests in the Trust ("Liquidating Trust Interests") and are subject to risks and uncertainties that are difficult to predict. These risks include, among other factors: (i) the Trust's ability to obtain Court approval with respect to motions in the chapter 11 proceedings of WMI and WMI's wholly-owned subsidiary, WMI Investment Corp. (together with WMI, the "Debtors"); (ii) the Trust's ability to resolve disputed claims; (iii) risks associated with any litigation and other claims that might be brought against the Debtors or by or against the Trust in the future during the term of the Trust (the initial period of which was three years and was extended for up to three years); and (iv) there is no liquidity for the Liquidating Trust Interests, which are non-certificated and non-transferable other than by will, intestate succession or operation of law.

Contact

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

SOURCE WMI Liquidating Trust
http://www.wmitrust.com