~ Guys, This ? Is Where Our Views Separate ~
WMI' ... has now reorganized', as of 03/2012' and the class participants have released
WMI II' (the WMB Action) has now Settled', as of 08/2016' and once again, ... the necessary releases are included and now completed ...
... The releasing common shareholders - in our case the uq's - as in all companies, actually own the Entire WMI Estate' ... this reality' has upset participants, ever since equity's representation was originally allowed ? ... and, ever since the final mediated result' allowed the common shareholders inclusion ...
The removal of the Absolute Priority Rule (APR) was NOT GLOBAL' and in my own opinion ? ... was ? and has been purposely mis-represented' ...
The removal of the Absolute Priority Rule (APR), ... was the result of a Court ordered, "mediated settlement" and each occurence of APR's removal needed to be approved by the Judge within the "Signed" Plan 7' Final Confirmation Order
One, ... the allowance of the AAOC settled $75,000,000.00 to jump over the classes and go directly to financially support the exiting new company, owned by the releasing class participants ...
Two, ... the WMI reorganizational settled allowance for the class WMB 17a's to receive LTI's and the agreement of the settled payment for their associated WMI fees and expenses ... then, to take their rightful position in Tranche 5' ... awaiting a "receivership certificate" to be issued by the FDIC', to accomadate the Noteholders eventual payment' ...
Three, ... the allowance for the dimeq' Class 21's to receive their associated WMI' reorganization settled distribution, and their associated tracking markers initially issued, to have now disappeared' from a releasing class 21 holder's account, due to their WMI' reorganization completed Settled amounts ...
Four, ... and the most unpopular, misunderstood and severely misrepresented, ... yet quite documented ... was the eventual allowance of any original WMI-LT left overs, ... to be RE-Distributed ... simultaneously 75% / 25% to the class 19's and the class 22's ... in the same fashion as the DCR's release of 1.4 million shares of WMIH-Corp back in August of 2015' ... (obviously without the LT ever finding a need for issuing an - Interests - in the LT, or an LTI's)
Now that the completion of WMI II's releases have been settled, ... everyone should understand just exactly what they own ? ... and where their returns can come from ...
the 75% / 25% distribution ... is not GLOBAL to the entire process' ... it is document stated to be limited to any possible WMI-LT leftovers, to be potentially - RE-Distributed - ... the individual allowances for APR's removal were specified, ... Rule 1129(b)
... wishful thinking' ... does not change the documented process, as it is now about to move forward ...
AZ
