WMILT got what it got, and classes were left impaired, and for a good reason I might add.
The WMILT received "Certain Assets" to deal with the WMB BK and the creditors of WMI. Legacy shareholders, owners of the holding company in joint administration, own the assets of WMI while the reorganized WMI owns the equity interests in WMI. Kinda like it was before the BK.