Likes Subject
Fido credited me with principal and interest. Enterprising Investor 09/30/17 9:38 AM
I.M.O. I received a call from my broker who GO4AWILDRIDE 09/29/17 8:47 PM
I use E*Trade and no payment from them ItsMyOption 09/29/17 3:11 PM
Has anyone received their money for the second GO4AWILDRIDE 09/29/17 2:53 PM
There were 2 runoff notes issued only 1 Fletch-42 09/21/17 4:22 PM
class 16 pay off? - I have seen ItsMyOption 09/21/17 12:43 PM
The first thing I will do when PIERS vics picks 09/10/17 4:51 PM
LOL no you forced him to squawk. MasterBlastr 09/01/17 6:07 AM
I get it. I was poking fun at myself. No problem. Enterprising Investor 08/31/17 9:13 AM
E I GO4AWILDRIDE 08/31/17 8:43 AM
[From the Department of Corrections] Full call of Second Enterprising Investor 08/31/17 7:22 AM
E I GO4AWILDRIDE 08/30/17 11:40 PM
Yup got my notice from Fidelity. LexTrader 08/30/17 8:41 PM
Who is Fido? The timing makes sense as ItsMyOption 08/30/17 8:30 PM
Fido beat them to it.Bond/CD Redemption Alert - Enterprising Investor 08/30/17 8:26 PM
Do you have a link for that. I ItsMyOption 08/30/17 8:21 PM
Full call of First Lien Notes on 9/29/17. Enterprising Investor 08/30/17 8:13 PM
Yes I also had partial 10 shares out ItsMyOption 07/04/17 1:30 PM
I checked my Scottrade account today and I GO4AWILDRIDE 07/04/17 1:28 PM
These are bonds. I sold mine already. Civil War General 07/01/17 10:50 AM
Re: Large Green Post# 481173 Class 16 shares redeemed ItsMyOption 07/01/17 10:06 AM
And busy bending each other over the pool MasterBlastr 06/26/17 10:14 PM
Any clue when the next and final payout Civil War General 06/25/17 11:08 PM
Thank you so much for reply It was just tpg 06/25/17 8:05 PM
Thank you tpg 06/25/17 8:03 PM
No account shows what you are looking for. GO4AWILDRIDE 06/25/17 8:00 PM
So rt now your a/c shows any position tpg 06/25/17 6:32 PM
I thought I had a similar experience as sidedraft 06/24/17 9:02 PM
You should have received $158 plus interest on GO4AWILDRIDE 06/24/17 2:28 PM
Hi I have wahuq tpg 06/23/17 4:18 PM
Hi I have wahuq tpg 06/23/17 4:16 PM
I wish the balance of my PIERS 16 vics picks 06/04/17 8:50 AM
Yep, got an interest payment today. robigus 06/02/17 4:34 PM
I saw only a small amount removed and ItsMyOption 06/01/17 7:03 PM
My transaction history is a little confusing today. robigus 06/01/17 5:26 PM
My A8s were gone a long time ago robigus 04/01/17 4:52 PM
Thanks Go4, but still confused as I had ItsMyOption 04/01/17 1:14 PM
Option The bonds (both initial and second lien) are GO4AWILDRIDE 04/01/17 12:21 PM
I called Etrade about my class 16: As ItsMyOption 04/01/17 11:06 AM
92936PAB6 has been redeemed for cash. ItsMyOption 04/01/17 9:40 AM
Looks like they called only 13 shares out ItsMyOption 03/03/17 9:54 AM
Partial call lottery ItsMyOption 03/02/17 2:18 PM
New interest deposit today. Note: I had 1300 shares. ItsMyOption 03/02/17 9:48 AM
You are lucky. I have not seen anything vics picks 02/22/17 9:48 AM
Scottrade deposited it directly into my ROTH. GO4AWILDRIDE 02/20/17 1:45 PM
How did the payment reach your Roth ? vics picks 02/20/17 1:33 PM
Well today the money found it's way into GO4AWILDRIDE 02/14/17 2:39 PM
It will be good to get paid in ItsMyOption 02/13/17 3:59 PM
I finally received my check. robigus 02/13/17 3:30 PM
Thats pretty funny. If something like that MasterBlastr 02/12/17 4:38 AM
Likes Subject

Enterprising Investor
09/30/17 9:38 AM
GO4AWILDRIDE
09/29/17 8:47 PM
ItsMyOption
09/29/17 3:11 PM
GO4AWILDRIDE
09/29/17 2:53 PM
Fletch-42
09/21/17 4:22 PM
ItsMyOption
09/21/17 12:43 PM
vics picks
09/10/17 4:51 PM
MasterBlastr
09/01/17 6:07 AM
Enterprising Investor
08/31/17 9:13 AM
GO4AWILDRIDE
08/31/17 8:43 AM
E I
Enterprising Investor
08/31/17 7:22 AM
GO4AWILDRIDE
08/30/17 11:40 PM
E I
LexTrader
08/30/17 8:41 PM
ItsMyOption
08/30/17 8:30 PM
Enterprising Investor
08/30/17 8:26 PM
ItsMyOption
08/30/17 8:21 PM
Enterprising Investor
08/30/17 8:13 PM
ItsMyOption
07/04/17 1:30 PM
GO4AWILDRIDE
07/04/17 1:28 PM
Civil War General
07/01/17 10:50 AM
MasterBlastr
06/26/17 10:14 PM
Civil War General
06/25/17 11:08 PM
tpg
06/25/17 8:03 PM
GO4AWILDRIDE
06/25/17 8:00 PM
sidedraft
06/24/17 9:02 PM
GO4AWILDRIDE
06/24/17 2:28 PM
tpg
06/23/17 4:18 PM
tpg
06/23/17 4:16 PM
vics picks
06/04/17 8:50 AM
robigus
06/02/17 4:34 PM
ItsMyOption
06/01/17 7:03 PM
robigus
04/01/17 4:52 PM
ItsMyOption
04/01/17 1:14 PM
ItsMyOption
04/01/17 11:06 AM
ItsMyOption
04/01/17 9:40 AM
ItsMyOption
03/03/17 9:54 AM
ItsMyOption
03/02/17 2:18 PM
vics picks
02/22/17 9:48 AM
GO4AWILDRIDE
02/20/17 1:45 PM
vics picks
02/20/17 1:33 PM
GO4AWILDRIDE
02/14/17 2:39 PM
ItsMyOption
02/13/17 3:59 PM
robigus
02/13/17 3:30 PM
MasterBlastr
02/12/17 4:38 AM

Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

Followers
80
Posters
248
Posts (Today)
0
Posts (Total)
3648
Created
10/27/08
Type
Free
Moderators

Washington Mutual Capital Trust 2001, 5.375% PIERS Units due 7/1/2041
Ticker Symbol: WAHUQ     CUSIP: 939322848     Exchange: OTCBB
Security Type: Trust Preferred Security
Issued: 23,000,000 

 

PIERS (Class 16) Treatment under Seventh Amended Joint Plan 

Pro Rata Share of (i) Runoff Notes, (ii) Creditor Cash and (iii) Liquidating Trust Interests, in an aggregate amount equal to (a) such holder’s Allowed PIERS Claim and (b) in the event that all Allowed Claims (other than Subordinated Claims) are paid in full, such holder’s Postpetition Interest Claim; provided, however, that, notwithstanding the foregoing, the contractual subordination and subrogation rights of Entities who hold PIERS Preferred Securities shall be preserved and enforced hereunder pursuant to section 510(a) of the Bankruptcy Code and any proposed distribution on account of the PIERS Common Securities of (i) Runoff Notes, (ii) Creditor Cash and (iii) Cash on account of Liquidating Trust Interests shall be recalculated and then distributed, subject to Bankruptcy Rule 3021 and subject to the Lien and priority rights of the PIERS Trustee, to Entities who hold PIERS Preferred Securities, or Liquidating Trust Interests on account thereof, until such time as such Entities’ Allowed PIERS Claims and Postpetition Interest Claims have been satisfied in accordance with the terms and provisions of the PIERS Trust Agreement; and, provided, further, that, following such distributions to holders of the PIERS Preferred Securities, WMI shall not retain any distribution on account of the PIERS Common Securities, including, without limitation, the Runoff Notes; and, provided, further, that, following the distribution to PIERS Preferred Securities referred to above, any remaining distribution of (a) Creditor Cash, (b) Cash received on account of Liquidating Trust Interests, and (c) Runoff Notes, shall be distributed, subject to Bankruptcy Rule 3021 and subject to the Lien or priority rights of the PIERS Trustee, in accordance with the priorities set forth in the Subordination Model attached hereto as Exhibit “H”. The relative priorities among holders of Allowed Senior Notes Claims, Allowed Senior Subordinated Notes Claims, Allowed General Unsecured Claims, Allowed CCB-1 Guarantees Claims, Allowed CCB-2 Guarantees Claims, Allowed PIERS Claims, and Allowed Late-Filed Claims, and the order in which such holders are entitled to receive payment of their Allowed Claims, Intercreditor Interest Claims, Remaining Postpetition Interest Claims and Postpetition Interest Claims, including, without limitation, on account of contractual subordination and subrogation provisions, are set forth in more detail in the Subordination Model attached hereto as Exhibit “H”. 

Reorganized Common Stock Election: On the Ballot, each holder of an Allowed PIERS Claim shall be provided the right to elect, in its sole and absolute discretion, to receive such holder’s Pro Rata Share of the Common Stock Allotment in lieu of (i) fifty percent (50%) of such holder’s Litigation Proceeds Interest (solely in its capacity as a holder of an Allowed PIERS Claim) and (ii) subject to the provisions of Section 31.14 of the Plan, some or all of the Runoff Notes that such holder otherwise is entitled to receive pursuant to Section 20.1 of the Plan. To the extent a holder of an Allowed PIERS Claim receives Reorganized Common Stock pursuant to the foregoing election, such holder’s share of the Runoff Notes to which the election was effective shall not be issued and Reorganized WMI shall retain an economic interest in the Litigation Proceeds equal to fifty percent (50%) of the Litigation Proceeds (and such interest shall not constitute a component of the Liquidating Trust Assets) such holder otherwise would have received (solely in its capacity as a holder of an Allowed PIERS Claim) (and the holder’s rights in respect of distributions from the Liquidating Trust shall be adjusted to the extent such proceeds are received by Reorganized WMI). Failure by any holder of an Allowed PIERS Claim to elect to exercise rights provided in this Section 20.2 on or before the Ballot Date shall constitute a deemed waiver and relinquishment of such rights by such holder. Any election made after the Ballot Date shall not be binding upon the Debtors unless the Ballot Date is waived, in writing, by the Debtors; provided, however, that under no circumstance may such waiver by the Debtors occur on or after the Effective Date.

Definition of Runoff Proceeds

Runoff Proceeds ” means (a)(i) all net premiums, reinsurance recoverables, net revenue resulting from commutation of insurance contracts, net interest income, reserve releases and other revenues derived from the reinsurance contracts, investments and other assets of the Trusts less, without duplication, (ii)(A) the reasonable and necessary costs and expenses of the Trusts and the Owner (including, but not limited to, general and administrative expenses, audit fees, required regulatory capital contributions (which capital contributions will be added back to the Runoff Proceeds if applicable regulations permit such distributions thereof), expenses of regulatory compliance, including all costs associated with the Insurance Book Closing, expenses of administering this Indenture and taxes) attributable to the administration of the Trusts or the assets thereof and the collection of premiums and/or management of investments in connection therewith (which expenses shall include reasonable and customary expenses attributable to the foregoing paid under any administrative services agreement, investment management agreement or similar agreement), and (B) claims paid for covered losses and (b) the proceeds from the foregoing received by the Owner or the Issuer in cash, securities and/or other property from any sale, liquidation, merger or other disposition in respect of the Owner or its interests in the Trusts or the assets thereof. The inclusion of clause (b) of this definition shall not be construed as a consent to any sale, liquidation, merger or other disposition or waiver of compliance with any covenant related thereto. For the avoidance of doubt, to the extent that Issuer or WMMRC pays any such cost, capital contribution or expense described in clause (ii)(A), payment by Issuer or WMMRC will be deemed a cost or expense of the Trusts.

Most Liked Posts
(Last 30 Days)
Board Info
Posts Today
0
Posts (Total)
3648
Posters
248
Moderators
Most Liked Posts
(Last 30 Days)
New Post