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Tuesday, December 27, 2022 7:33:14 PM
This is SUPER REREAD and a reminder of the assets as the Equity Committee was challenging the court to get our assets and value on the record. So in the end yes, those assets are still there and should very soon be available to those investors who signed timely releases by 3/2012.
This was obvious in previous Plan of Reorgs such as POR 5 and/or 6 where they tried to zero out equity so the Perps could be the last man standing in tranche four with Piers which was a Hybrid Security, part equity and part creditor which legally allowed them to receive all the spoils.
However, the Perps were caught and had to share with equity in Amended POR 7 which was signed by the court on 2/23/2012.
The only thing that changed was the payout Matrix where Piers was capped in tranche four with NO FURTHER PAYOUT (penalty by Judge for I.T.) thus allowing Equity to receive all the spoils in tranche six.
Please look at numbers 68 and 69 which it discusses the assets and questions concerning why the value is hidden from Equity.
http://www.sidedraught.com/stocks/WashingtonMutual/Equity%20Committee/Missing%20bytes%20-%20-EC_DS_objection%20to%20POR.pdf
HAVE I TOLD YOU LATELY HOW MUCH MORE, MORE AND MORE I LOVE MY TIMELY SIGNED RELEASES THAT CONTINUE TO GROW IMMENSELY EVERY SINGLE DAY FORWARD?
xxx
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