~ Mr Gold, Many Of The Original Class 19’ Participation Elections Submitted, Were NOT Able To Be Changed ~
I’ve posted the language brought forward from Plan 6, to WMI’s Approved Plan 7’, regarding this important issue’, ... but many of the Class 19 Original Submissions were not able to be changed’ ... what had originally been submitted was going to stick ... No Do Overs ...
This issue didn’t ever affect Class 22, because Class 22 wasn’t supposed to initially be involved anyway, ... that’s why I’ve always questioned the press release, mb, and calculator submissions, of the amounts of WMI preferred that released’ ...
I’ll stick to the February 2012’, Signed Docket Filing, submitted “On The Record” regarding the Class 19’ Plan 7’ Releasing and Participating Numbers ... I believe the following Docket Filing To Be Accurate’, ...
”With respect to Class 19 (Preferred Equity Interests), it should first be noted that Class 19 only narrowly voted to reject the Seventh Amended Plan. When votes were, as required by the Court, weighted by liquidation preference and tallied, holders of $4,068,010,409.00 of Class 19 securities voted to accept the Seventh Amended Plan, and holders of $2,476,176,496.00 of Class 19 securities voted to reject the Plan. The percentage of the Class voting to accept is 62.16%, just short of the two-thirds in amount required. Additionally, holders of $1,867,100,000.00 of Class 19 securities elected to opt out of granting the releases in Section 41.6 of the Seventh Amended Plan. Presumably, a very large percentage of the votes to reject, and an even larger percentage of the elections to opt out of granting the releases, were cast by members of the TPS Consortium, who, as per their most recent Rule 2019 statement, filed on January 11, 2012, own approximately $1,547,000,000.00 of Class 19 securities.”
anyhew’
AZ
