Definition Reorganized WMI:
Quote:1.192 Reorganized WMI: WMI, on and after the Effective Date, which shall include One Hundred Percent (100%) of the equity interests ofWMI Investment, WMMRC and, subject to the abandonment of the equity interests of WMB, WMB.
Quote:32.3 Merger/Dissolution/Consolidation: On or as of the Effective Date or as soon as practicable thereafter, and without the need for any consent or approval, Reorganized WMI may, in its sole and absolute discretion, (i) cause any of the Reorganized WMI Entities to be merged, dissolved, or otherwise consolidated, (ii) cause the transfer of assets between or among the Reorganized WMI Entities, or (iii) engage in any other transaction in furtherance of the Plan. As soon as practicable after initial distributions are made pursuant to Section 31.1 of the Plan, and without the need for any consent or approval, Reorganized WMIshall complete, or shall cause the completion of, the administrative dissolution of theWashington Mutual Capital Trust 2001.
So Reorganized WMIowned WMIIC and owns WMMRC according to the above definition, so the Reorganized WMI = WMIH = now COOP “shall complete, or shall cause the completion of, the administrative dissolution of the Washington Mutual Capital Trust 2001”!!!
Quote:I don’t recall ever reading anywhere that the stock of WMCT 2001 was to be transferred to WMIH, nor was WMB stock, which WMI abandoned. Can you cite a reference or link which corroborates the WMCT stock claim???
The statement was, All assets of the Debtors, WMI + WMIIC, including intercompany claims would go to the WMILT except…
100% equity of WMIIC which went to WMIH
100% equity of WMMRC, also went to WMIH
The stock of WMB, which was abandoned by the Debtors. It never stated WMIH assumed WMB’s stock that was abandoned to create the NOLS. That does not compute.
– Just my personal opinion, no investment advice! –