obviously the LTI has not filed nothing because they likely believe nothing is there, by the way this is the WMIH mb, it is a co. that has an old insurance co. in runoff mode
the answer is simple. Jpm owns all of the old assets; FDIC-R has the bond debt from the old bank, and to date is unpaid, and will likely be. But the big question is when are you going up to the facility to see your mom?
the company is only worth about 50 million, and it's market value is in the neighborhood of $500 million.......where else can it go from here? No ongoing biz operation, no buyers, a dead website and 2 employees. Where do you think its going??
No. I don't think you are wrong. It seems you are merely stating the obvious. After all the nature of an operating loss tax credit is to have an operation to offset it..... 2 employees, a dead website, and an old insurance company with no new business is not.
its been almost 3 years, and they still have a zero LTI balance, with the LTI pursing how many multi-billion dollar lawsuits?
the reason the escrow shares are worthless should be obvious:
1. they have 0(zero) LTI balance.
2. There are no litigation outstanding that the LTI is pursuing to bring in additional $$.
3. The likelihood of any future litigation after almost 3 yr period has lapsed is slim to none.....but keep dreaming
when companies go bk normally the equity value is zero, therefore by the nature of bk the common shares are usually worth zero. BUT old wmi shareholders got some of the new co equity, so depending how you look at it there was a recovery.......but there is no $$ for worthless escrow shares.
The question is, given all the info out there, who is actually dumb enough to think the escrow shares will get anything. There is a reason the LTI has your shares with a zero balance. It's simply basic math. Zero.
they will probably soon take profits in WMIH warrants, with there whooping 11 million investment
mm's are going to make a killing when all the news is finally out
that would mean the equity value of WMIH and market value would have to come together, as $60 million equity value does not warrant a $500 million market value, and 0, zero value realized for the NOL, since the 2 employees don't really operate anything but a dead website.