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Re: Olde English 800 post# 589024

Monday, 09/23/2019 11:39:22 PM

Monday, September 23, 2019 11:39:22 PM

Post# of 730593
It was in regards to LTI holders.

At one time, posted on the WMILT website.

"SPECIAL ANNOUNCEMENT DATED 12/14/2018:

In response to a handful of inquiries regarding the timing of a potential distribution to holders of LTIs, while the bankruptcy court agreed with the Trust's position regarding the expungement of claims, the bankruptcy court has not entered an order in connection therewith. Specifically, certain of the employee claimants have contested the inclusion of all claims in any order, claiming that the Trust failed to include certain claims in the applications that were submitted to the FDIC and denied and, as to which, the D.C. District Court confirmed. The bankruptcy court has requested additional submissions and the Trust does not anticipate a determination and entry of an order extinguishing claims by the bankruptcy court prior to March, 2019."

This same time last year, the judge was looking at approving a "SPECIAL DISTRIBUTION" for escrow holders, who had been waiting over 7 years since signing releases. That talk ended because of employee claims that had to be addressed first. Now certain people who comment here choose to tell anyone who will listen that there is no money for escrow.

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