Sears Holdings Corp. (fka SHLDQ)

[linda1]

I have only an adequate knowledge
of the previous Bankruptcy Proceedings
of both WMI and Lehman.


I did not hold WMI Commons on the Effective
Date, and I did not “ opt in “ to the POR.


Per the Seventh Amended POR the
Equity Interests received 25 % of the 200 M
in new Common Stock. That is 50 M.
The exchange was approx 27 old Commons
for 1 new Common.


The value of the new Common Stock depended
upon one’s average of the old Commons. If
your average was .02 x 27 = .54.


The new Commons opened up in the .50 range
and eventually increased in price to $ 4.00
before slowly declining until WMIH merged with
COOP to utilize $ 6 B in NOLs.


The WMI POR was complicated and included
Run Off Notes and a Liquidating Trust - from which
the new Common Shareholders may have
received additional monies.