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Thursday, December 06, 2018 3:55:54 AM
https://www.deb.uscourts.gov/sites/default/files/opinions/judge-mary-f.walrath/mfw01071108-12229_0.pdf
And page 78 and 79 of the DS:
http://www.kccllc.net/wamu/document/0812229111212000000000005
And the graphic on page 79
IMO a typical hen egg problem, isn't it??? The Debtor is insolvent, has an obligation to the WMCT2001 (which is NOT one of the 33 subs of the debtor), which makes WMCT2001 a creditor of the debtor. BUT the debtor holds 100% of the equity in the WMCT. Hmmmmmm.....
The WMCT2001 cannot be released UNTIL the debtors paid the obligations to the WMCT2001, but this can only happen if the other creditors got paid IMO
Your post:
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- Just my personal opinion, no investment advice! -
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