The 6000 new recipients
are Class 19
preferred equity IMO
I thought a lot about these "6000 new recipients"
that have been mentioned by Rosen.
Then I looked again into the KCC list containing the numbers about the returned voting ballots for the specific classes... http://www.kccllc.net/wamu/document/0812229120213000000000026
...and counted the total votes
for Class 19
(beginning on PDF(!) page 17/270
) in the different tables up to page 21/270
So does Rosen mean these 6246 Class 19 holders (who probably submitted releases)???
Of course that doesn't mean that there are only 6246 Class 19 holders, most of the entries in the tables are banks/brokers, and they combined the votes of their single customers.
If you only count the accepting votes (but it is only for the acceptance of the POR, we cannot see who submitted releases IMO) then we "only" get 5323, which is a little bit lower than 6000, so I don't know if Rosen is really referring to Class 19, but who else could it be?!? The 6000 number is too close IMO
But why only Class 19? And not also Class 22 if there is 75%/25%? Right? Wrong?
IN EXCESS OF 6000 RECIPIENTS vs 2900 UNSECURED CLAIMS vs 0 LTI HOLDERS
As of last quarter there was 0 balance on LTI holders.
At the end of 2018, there were 1900+ LTI holders of them 1600 were class 16 claimants.
There were 2900 unsecured claims were filed originally.Those claims were reconciled and brought the amount to around $38 Million.
Who could be these 6000 recipients to receive debtor's assets as mentioned in the application to close.