let me offer a discussion in the semantics of being a shareholder of equity and a byproduct of filing a chapter 11 bankruptcy, and a receivership........ a common shareholders has a right to the equity the company produces......and a right to receive their share if a company files chapter 7 if there are assets left after all creditors have been paid....Wmi filed for chapter 11, with only enough assets to satisfy creditor obligations, nothing more....Wmi cancelled the WAMU stock for the NOLS, thus severing all shareholder rights to assets of the old company....this is evident in most bk's where the shareholders get nothing, and the company reverts to the creditors and bondholders.... so, to cancel the Wamu stock WMI severed all rights of equity to the estate remainders, if any....shareholders are linked to stock equity, and cancellation of stock means the link or nexus to those assets are gone....it should be apparent that WMI would have closed these avenues to return these assets to shareholders when they cancelled the stock...why else cancel the stock for the NOLS....simply because the NOLS represented more value than the common stock which was selling in the low 0.06 cent range....WMI got a two for one by cancelling the stock in WAMU....they got to keep the assets, and will get future value from the NOLS...maybe the returns on those assets belong to the estate holders, and Wmih is using them for their benefit, but who is going to get the BOD to release them?.....we have no equity representation, and the BOD is not amenable to shareholders, as we have seen.....Lodas
