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Friday, September 29, 2017 7:57:15 AM
Then they pay 95% and keep 15%
The 95% are 2.115B * 0.95 = 2.00B, so they keep $115M in the receivership (for additional expenses).
The priority of claims according to
www.fdic.gov/bank/historical/managing/history1-10.pdf
is
1. Administrative expenses of the receiver;
2. Deposit liabilities and general creditor claims;
3. Subordinated debt claims;
4. Federal income taxes; and
5. Stockholder claims
JPMC's $645M are priority 1, then follow the general creditor claims (priority 2), and the remaining part of the $2.00B is shared "pro rata" among senior unsecured claims (priority 3)
"After paying JPMC in full, the Receiver made an interim dividend distribution on September 26, 2017, on all approved senior unsecured claims of the receivership, including the claims of DBNTC,..."
and
"...The allowed senior unsecured creditors shared equally (on a pro rata basis) in this distribution...."
Your post:
=====> Just my personal opinion, no investment advice!
=====> I am long WMIH
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