Thursday, May 21, 2015 2:15:42 AM
" and, provided, further, that the LTW Holders shall be entitled to any and all distributions pursuant to the Seventh Amended Plan
relating to the Allowed LTW Claims; and, provided, further, that the foregoing release shall not preclude
the LTW Holders from participating in any settlement recoveries payable by third parties (other than the
claims and causes of action in the Dime Warrants Action being settled hereunder) to equity security
holders of WMI. "
She clearly did not preclude LTWs from seeking damages from third parties -i.e the notorious FDIC.
Remember, at the BK trial, one of the objections raised by the defendant, WMI, was that the LTWs were not entitled to recoveries because the "TRIGGER" mechanism - that is - the receipt of settlement monies from FDIC has not activated their (the LTWs) participation in any proceeds from the BK estate of WMI. Until JPM receives the adjudicated proceeds from FDIC, the LTWs are not in play. Those who tendered under the 7th Amended POS, surrendered their rights to WMHI. One had the option of opting out of the settlement. Does WMHI now hold those DIMEQ in treasury? Did WMHI upon reorganization cancelled those Warrants?
I can not determine at this time.
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