Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[Rumble]

There is a lot of confusion in the last couple of posts; so I'll try and explain as best I can.

1.) WMILT - created from the old WMI had notes from WMIH (Newco). These notes were distributed to WAHUQ to partially pay off our claims against WMILT.
2.) The Reinsurance business is in run-off status and is in a sub of WMIH (Newco). There are notes (non-recourse to WMIH if sub does not have enough assets to pay-off) which were roughly equivalent to the expected value of the remaining reinsurance business. Since the mortgage and real estate market has rebounded there is likely residual value that will be left in the sub after the notes are completely paid off. This remaining value will remain with WMIH, (Newco). Thus it is Newco that benefits by extinguishing these high interest rate notes.
3.) Any remaining assets in WMILT after claims are denied, settled or additional amounts "found"; collected from tax refunds or D&O insurance policies will only go into WMILT to pay off claims. Any additional amounts beyond the remaining amount owed to WAHUQ holders will accrue to the remaining escrow shares not to WMIH (Newco). (I believe there is a small amount in an intermediary tranche but not significant to this discussion.)
4.) During last tranche of payouts (along with escrow shares for both preferred and common shares) I believe there is 2.5% allocation to WMIH (Newco) but I'm going on memory. There is no cap on any of the remaining parties in the final tranche and WMIH (Newco) would only receive the 2.5% of whatever the amount.

5.) The statement any excess assets go to WMIH would only pertain to excess assets in their sub after the notes are paid off. These same notes that we all received substantial payoff on during the past couple of weeks. I had about 99% of my senior notes redeemed and none of my Junior notes redeemed.