Saturday, August 19, 2017 11:51:44 AM
I believe that within our now completed, "Settled" process, there has always been a place for everything, and that everything has always had a place' ... after an in depth study of Zelin, Carreon, and Mastando, ... Plan 7' is not terribly different from Plan 6' ... "other than" ... Plan 6 had problems, and there was a need to rework the distribution matrix (Attachment H), to properly subordinate the WMB Bank Noteholders, beyond the WMI Creditors' ... (Bankruptcy Rule 510) ... and in accomplishing this, the need to then actually ... "end and complete" ... the WMI Reorganization with the Washington Mutual, Inc., Estate' itself' into a reorganized new company, and subsequently owned by its actual owners' ...
So In my own opinion and conclusions, Judge Walrath's Rulings and these issues have always made common sense to me' ... the WMI' Creditors (Tranche 1 - Tranche 4) were able to be paid with WMI's Cash On Hand' plus the interest provisions, ... The now properly subordinated WMB Bank Noteholders (Tranche 5' Class 17) ... would receive their eventual recovery, (Receivership Certificate's to be issued by the FDIC - per the FDIC's Claims Department submission to DLA Piper) from the exact same Performing Trusts' that the Original WMB Noteholder Program actually originated from and consisted of' ... and again,, ... the same process should be and ultimately would be applied to Tranche 6' Class 19, as the WMI Preferred Securities were connected to the WMI Capital Trusts, ... Washington Mutual Preferred Funding, LLC., ... which occurred when the TPS were ruled to have' experienced their "exchange event" (to convert to a WMI Preferred Security) ... and subsequently ... DID NOT' ... get have the ownership of these Trusts' transferred to JPMC' ...
JPMC, ... was only ever ALLOWED', to ever perform ONLY' the servicing duties on behalf of these financially powerful TRUSTS' ... JPMC was to service these loans, for and to the eventual financial benefit of the Trusts themselves, and for the actual and the eventual releasing owners of the Washington Mutual Inc., Estate' (to be distributed upon the completion of these necessary litigated Settlements') ...
AZ
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