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Re: Donotunderstand post# 439686

Tuesday, 10/27/2015 7:08:25 PM

Tuesday, October 27, 2015 7:08:25 PM

Post# of 729922
http://www.law360.com/articles/310893/wamu-strikes-deal-to-secure-votes-on-ch-11-plan

In the settlement, preferred shareholders won a 5 percent increase of their stake in the reinsurance company set to emerge from bankruptcy — now 75 percent — with the remainder going to common shareholders.

In return for switching their votes, the TPS Groups will be permitted to seek reimbursement of up to $15 million in expenses, along with a $618,000 general unsecured claim and an $18 million payout from JPMorgan Chase Bank NA, according to Rosen.



I think you're forgetting the TPS appeal to the 3rd Circuit Court that failed. TPS basically had no choice. (Edit: They basically were left with little choice.)
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