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Sunday, April 17, 2016 10:16:05 AM
These current issues being finalized are Tranche 5' ... WMB, seized bank issues ... we are in class 18 ...
Class 16' Tranche 4 (The last WMI creditor class) ... HAS already been defined to their return ...
Class 17' Tranche 5 (class 17a and 17b) ... are not an obsticle to distributions to lower classes ... Plan Defined'
The Plan 7 settled reorganization required two separate areas for a "general unsecured" claim to be a consideration' ... again, the legal sequence needed to be adhered to' ... WMI filed for BK protection (its creditors, 1st), ... while WMB was seized' (its issues, 2nd) ... and then, Tranche 6 (equity owners of the entire estate, 3rd)
... Tranche 1 through Tranche 4 addressed WMI Bankruptcy creditor class issues, ...
... Tranche 5 addressed WMB seizure issues ...
... The WMI, Parent Corp Bankruptcy Reorganized "Plan 7" Settled Issues, ... addressed WMI Class 12' General Unsecured, within Tranche 3' ... which has now been completed
... WMB, the Seized Banking Subsidiary Issues, ... addressed Class 18' General Unsecured, Tranche 5' which are not yet completed
Many don't understand that there were actually ~ TWO ~ classes, 12 & 18 addressing all of the ~ WaMu ~ "general unsecured" issues' ... One for the WMI BK issues (class 12), and then a separate one was needed for the WMB Seized Bank issues (class 18)
AZ
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