~ Now Is The Time To Be Diligent To The WaMu Process ~
Now, ... ? ... now that the WMI II ("the WMB Action") "Settlement" Has Been Completed, ...
financially regarding any meaningful distributions of the LT's leftovers ... ? ...
the WMI-LT doesn't really matter, to the Actual Owners' of the WMI / WMIIC Original Estate ... the WMI-LT is the Pass-Through Mechanism' ... (the DTC, Clearstream, Euroclear, etc and YOUR' Registered Broker are important to a releasing (41.6) participant)
From The Plan of Reorganization;
32.2 Intercompany Claims: Intercompany Claims shall be extinguished, unless otherwise agreed or resolved between the parties to a given Intercompany Claim, resolved by the Global Settlement Agreement or released by operation of the Plan. Any such transaction may be effected without any further action by the stockholders of any of the Debtors or the Debtors in Possession.
From The Liquidating Trust;
(d)Right to Recovery. WMB Senior Notes Claims and WMB Subordinated Notes Claims are not superior in right of recovery to Allowed Senior Notes Claims, Allowed Senior Subordinated Notes Claims, Allowed CCB-1 Guarantees Claims, Allowed CCB-2 Guarantees Claims, Allowed PIERS Claims, Allowed General Unsecured Claims, or Allowed Late Filed Claims, and the holders of WMB Senior Notes Claims and WMB Subordinated Notes Claims may not seek recourse, payment, turnover, indemnity, damages, setoff, pay-over, or other compensation from holders of any Allowed Claims, including, without limitation, Senior Notes Claims, Senior Subordinated Notes Claims, CCB-1 Guarantees Claims, CCB-2 Guarantees Claims, PIERS Claims, General Unsecured Claims, or Late-Filed Claims, on account of WMB-issued obligations.
The purpose of section 510(b) is to prevent the bootstrapping of equity interests into claims that are on a par with other creditor claims, consistent with the Bankruptcy Code's "absolute priority" rule. According to this rule, unless creditors are paid in full or agree otherwise, shareholders cannot receive any distribution from a bankruptcy estate.
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~ Know What You Own ~ ... and No' ... ~ I Will Never Be Issued An LTI (an actual "Interest" in the WMI-LT) ~
AZ
