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Wednesday, October 21, 2015 11:36:38 AM
Net assets subject to disputed claims $75,414,677 which is largely comprised of:
Cash and short-term investments - DCR $75,120,070
In addition, the Liquidating Trustee administers the Disputed Claims Reserve (“DCR”). Holders of claims which have not been allowed did not receive cash or LTIs as part of the Initial Distribution, and such assets were transferred to the DCR pending resolution of claims. Since the Effective Date, the DCR balances have changed due to the disallowance or allowance of disputed claims as well as payment on behalf of LTIs held by the DCR.
One thing in post 439049 I didn't list are the claims that have an undetermined value. Now the thing is, I haven't seen them listed in any of the scheduling orders so I don't know if they were erroneously listed as unresolved. The statement below however, makes it seem as though they will be litigated.
As of June 30, 2015, the Trust held $64.2 million of cash and $0.3 million of Runoff Notes in reserve on account of the Employee Claims, with the aggregate remaining amount of those claims totaling approximately $62.0 million after the application of the Section 502(b)(7) Cap(as defined below).
http://www.wmitrust.com/wmitrust/document/8817600150730000000000001
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Total that we're looking at if all Employee claims are disallowed is $62 million that flows to escrow. That only applies to employee claims. General unsecured creditor claims that aren't specifically employee claims are not listed nor included in the $62 million total.
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