Friday, November 22, 2019 11:31:09 AM
Those Classes that were determined to be Plan 7’, WMI debt, ... “Creditors” ... were issued “Interests” in the WMI-LT, ... WMI-LT, LTI’s ... (Tranche 1 through Tranche 4, with Class 16 PIERS being the last Plan 7 creditor) ...
The Classes determined to be WMI’ Equity, ... were issued “Tracking Markets” ...
... either one or the other’, an LTI or a Tracking Marker, ... but All’ WMI Classes had transitioned individualized Cusips ... that’s basically why the promotion of the 75/25 magical bucket for all’, was always wrong’ ...
As an initially issued hybrid security, ... The PIERS wanted a Court determination to be Ruled either equity or debt, the Court Ruled and determined the PIERS to be debt’, and in doing so, they became Capped to their recovery
AZ
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