wmi holdings corp (WMIH) Key Developments
WMI Liquidating Trust Announces Cash Distribution for the Period Ended June 30, 2014
Jul 30 14
WMI Liquidating Trust intends to initiate the $78 million Distribution on August 1, 2014. Additional information regarding the Distribution will be reflected on the next Quarterly Summary Report for the period ended June 30, 2014.
WMI Liquidating Trust Announces Executive Changes
Jun 20 14
On June 16, 2014, Joseph McInnis resigned as a member of the Trust Advisory Board of WMI Liquidating Trust, effective immediately. Mr. McInnis was also a member of the company's Litigation Subcommittee. On June 16, 2014, in accordance with the terms of the Trust Agreement, which provides the TPS Funds with the right to appoint one member to the TAB, the TPS Funds appointed Paul A. Martin to the TAB in the capacity as
TPS Designee. Mr. Martin was also appointed to the Litigation Subcommittee.
WMI Holdings Corp., Annual General Meeting, Jun 04, 2014
Apr 24 14
WMI Holdings Corp., Annual General Meeting, Jun 04, 2014., at 09:00 US Eastern Standard Time. Location: Sheraton New York Times Square Hotel. Agenda: To elect a board of directors consisting of seven members, each to serve until the next annual meeting of shareholders and until his or her successor is duly elected and qualified; to ratify the appointment of Burr Pilger Mayer, Inc., as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2014; to approve, on an advisory basis, compensation of WMI Holdings Corp.'s named executive officers; and to transact such other business as may properly come before the meeting or any adjournments or postponements thereof.
WMI Holdings Mulls Acquisitions
Dec 9 13
WMI Holdings Corp. (OTCPK:WMIH) . announced that it expects to receive $150 million in funding from Kohlberg Kravis Roberts & Co. L.P. KKR commit to purchase up to $150 million aggregate principal amount of subordinated 7.5% PIK notes, which may be issued in one or more tranches over a three year period. All of the proceeds from the subordinated notes, if and when issued, would be used to fund future acquisitions.
Justice Department Announces $13 Billion Settlement with JPMorgan
Nov 19 13
JPMorgan has agreed to a $13 billion settlement for misrepresenting bonds prior to the recession. It covers allegations revolving around mortgage-backed securities that became the trigger for the economic recession that is viewed as the worst since the Great Depression of the 1930s. As part of the settlement, the bank 'acknowledged it made serious misrepresentations to the public, including the investing public, about numerous residential mortgage-backed securities'. The settlement covers claims against JPMorgan and Bear Stearns and Washington Mutual, two banks that JPMorgan absorbed as the financial crisis was unraveling in 2008 and 2009.