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Sunday, February 15, 2015 5:03:01 PM
Have I told you lately how much MORE and MORE I love my Escrow Shares?
http://www.americanbar.org/content/dam/aba/publications/rpte_ereport/2010/february/rp_murray.authcheckdam.pdf
And From;
http://www.kccllc.net/wamu/document/0812229150130000000000001
"Moreover, the Trust asserts that, to the extent such claims are allowed, the D&O Defendants’ proofs of claim should be subordinated under section 510(c) of the Bankruptcy Code to all other claims against the Debtors’ estates as a result of the Defendants’ inequitable conduct, as described in the D&O Litigations."
So the 510(c) D&O Defendants could become subordinate to the 'Over-funded' claims in 510(b).
Think about that...
The Employee claims could become subordinate to T-5/6.
Let's have that hearing.
And;
www.wmitrust.com/wmitrust/document/list/2897
There is no D&O-510(c) language in the previous September 30, 2014 Quarterly Summary Report
http://www.wmitrust.com/wmitrust/document/8817600141029000000000001
________________________________________________
http://www.kccllc.net/wamu/document/0812229150130000000000001
See note 8:
Disputed Equity Escrow In addition to the DCR, the Plan established a Disputed Equity Escrow to hold shares of Reorganized WMI common stock for distribution based on the resolution of disputed equity interests. A dismissal of disputed equity interests will result in a distribution to common shareholders of Reorganized WMI consistent with the allocation of, and manner of distribution of, common shares on the Effective Date. The shares and any cash distributed on behalf of the shares are held in a separate escrow account that is not recorded as an asset of the Trust. The Liquidating Trustee is the escrow agent for the Disputed Equity Escrow. The Disputed Equity Escrow is taxed in a similar manner to the DCR (see description above). All expenses of the Disputed Equity Escrow (other than taxes) are borne by the Trust.
As of December 31 , 2014, there were approximately 2.9 million shares of Reorganized WMI common stock in the Disputed Equity Escrow.
On December 23, 2014, the Bankruptcy Court approved a settlement of certain Disputed Claims that would allow a distribution from the Disputed Equity Escrow. On January 5, 2015, an appeal was filed in connection therewith. (See Note 10.) Thus, no shares have been released from the Disputed Equity Escrow during the quarter ending December 31, 2014
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