~ Sorry Ora' ... That's Not Correct ~
The "Settled" Plan of Reorganization is defined' ... You would have needed to first "release" your holdings' ... however, ... more importantly, ... secondly' ... you would have needed to receive your proper allocation of "tracking markers" ... to be considered an Owner of the debtors and the debtors in possession, WMI / WMIIC estate'
This is thoroughly explained in Exhibit C' of the Disclosure Statement, ... referenced also in "Goulding's" filing "in support of" (The Plan) ... and' ... most importantly, ... stipulated to, directly within the Court Signed Plan of Reorganization' ...
piers, class 16 security holders suffer from this dilemma, ... Class 16's were never allowed to receive "tracking markers" ... so there is no way, as is plan defined that, - cash / (or) common shares in the newly reorganized company, can be distributed without the "tracking markers" needed to calculate an individuals degree of participation' (class 16, piers are limited to their receipt of what is defined to be an LTI' - only -)
I'll try and make it easier to understand', ... If' ? ... a participant released and received their proper allocation of "tracking markers" ? ... they' are considered to be Owners of the massive WaMu Estate'
... Then, Plan Defined' ... Distributions can be made' ... via; cash, a runoff note, an LTI, or common shares in the newly reorganized company' ...
the runoff notes have been distributed' ... Tranche 5' would need to be finalized prior to a Tranche 6, equity class participant being eligible to receive an LTI' ... So, ... as is Plan defined, ... That' leaves cash / common shares of the newly reorganized company' ... for the allowable distribution mechanics'
(I did not produce or write any of these defining documents, ... I studied them)
AZ
