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Re: hotmeat post# 575495

Sunday, 05/19/2019 7:57:37 PM

Sunday, May 19, 2019 7:57:37 PM

Post# of 734345
TPS argued that the conversion to preferred never took place.

https://www.seattletimes.com/business/wamu-settles-with-dissident-creditor-group/

The investors also agreed to drop an appeal of Walrath’s ruling that some $4 billion in debt securities had indeed been converted into stock when Washington Mutual Bank was seized. They had previously argued that the debt-to-equity conversion never took place and that WMI had no authority to transfer the securities to its Washington Mutual Bank subsidiary, and thereby to JPMorgan.
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