~ The Plan and The Allowed Distributions ~
There continues to be some confusion regarding the distributions that are stipulated to within the Plan of Reorganization, Plan 7' ...
As I just posted, WE have been in Tranche 5' class 18 now for quite awhile now' ... As WE have read, Tranches 1 through Tranche 3 (WMI creditor classes) were completed as of the 12/31/2013 WMI-LT's Quarterly Report, ... we then witnessed, ... Tranche 4' piers class 16' be limited to the return of a WMI-LT designated Interest ... only' ... an LTI ...
... Within the Plan of Reorganization, there are four distinct and defining methods which are allowed for a distribution within the Approved Plan 7 ... distributions may either be in the form of; ... cash, a runoff note, a Liquidating Trust Interest, and common shares in the newly reorganized company ...
These four distinct distribution methods available, are referenced and described numerous times throughout the relevant Plan 7 settlement documents, ... the Disclosure Statement, Goulding's filing "in support of", and of course, the Plan itself to name a few ...
For a releasing participant to receive their individual proper allocation of distribution returns, either cash or shares, ... transitional tracking markers are a necessary tool needed to calculate the amount of return an individual is due' to receive ...
Tranche 4' Piers class 16' ... DID NOT ... receive the necessary tracking markers to accomplish their receipt of a future distribution of cash or common shares in the newly reorganized company ...
Tranche 4' Piers class 16' ... have already been defined and limited to ... only ... receive what is determined to be a Liquidating Trust Interest ... That Is It' ... That Is All' ... That is all a Piers class 16' security can receive ...
Tranche 5' Class 17' (a&b) ... are determined to have released upon the receipt of their distribution ... (class 17a had their release brought forward from Plan 6' ... and class 17b as stated' ... "due to the fact" ... had no claims against the debtors estate, ... so distributions to subsequent classes can move forward to lower classes without interruption ... (class 17 (a&b) are defined to face value plus FJR returned to individual maturity')
Tranche 5' Class 18' ... are WMB seized bank issues, addressing any general unsecured Rule 510(b) issues' ... (class 18 claims are defined to a court approved settled result)
Tranche 6' ... class 19 and class 22 are the ending owners of ALL things WaMu, and are Plan designed to receive all returns uncapped' at a 75% / 25% simultaneous split'
AZ
