the uncomfortable subject matter is the 75% / 25% RE-Distribution is limited to only what remains in the LT' at the final accounting for the WMI-LT
OR BEFORE it's final accounting , such as like in a S4V swap.
Prefereds back to preferds and commons back to commons...which for all intents would be at the 75/25 would it not? Yet in this instance it would in FACT save the company some 900,000,000 original WMAU or after conversion some 150,000,000 shares of WMIH needing to be issued with preferds being replaced in TOTAL