Thanks Linda for the article. On page 3 heading "The Anchor Litigation..." clearly concludes that LTW were equity entitlement to "WMI" shares. The BK court was wrong in ascribing the LTWs to WMI, because, just prior to the Washington Mutual bankruptcy, the FDIC awarded the WMB, owner of the Anchor Lit., to JPMC. The article's author was not aware of this at the time she wrote the article. Her conclusion is correct, though, in so far as the LTWs represent a viable equity instruments, once the "trigger" payment is made to JPM. The tax ramification of accepting JPM shares instead of cash (no one even suggested it so far)will be a topping on the cake.
