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Monday, October 08, 2018 12:00:15 PM
Former WMI Commons and Preferred, along with all their respective documentation were cancelled, that is an irrefutable fact!!!
Ask yourself by what mechanism could these shares be "rebooted" back into the current case to regain their former property rights.
Any honest person looking at this dispassionately could only come to one conclusion...they are gone and so are those former rights!
The decision to void ALL the documents was done for a specific purpose, ie to legalize the nullification of those contracted rights.
Meaning, Preferred (PQ's) are no longer entitled to $1000 FV + interest, and Commons no longer have claim on the remainder of the WMI estate.
Notice no one that promotes the "Commons theory" ever fully or sensibly explains how such a distribution could ever possibly work.
Instead all that's presented are vague opinions which very few, if anyone, can easily decipher.
25.2 Cancellation of Common Equity Interests:.., on the Effective Date, all Common Equity Interests shall be deemed extinguished and the certificates and all other documents shall be deemed cancelled.
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