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Monday, April 01, 2024 5:25:58 PM
L.G. when you signed a Release Document, you signed away all rights to former assets in WMI for NOW, FUTURE, AND FOR FOREVERMORE!!!!!!!!!..... read the document that newflow posted about the settlements for different class claims, and read exactly what the release signatures stated.... it states if one does not sign the document, they will be excluded from any settlements that will occur when the chapter 11 is settled... if you do not sign, THEN YOU HAVE THE RIGHT TO SUE FOR VALUES HELD IN YOUR FORMER ASSETS OF WMI!!!!!!!!!!!!!
Those who signed their release(s) became eligible to receive a distribution, per the GSA, and were also given the right to receive any potential future litigation proceeds. Those who did not sign their release(s) did not become eligible to receive a distribution, nor were they given the right to receive any potential future litigation proceeds. The non releasers would be entirely on their own to sue (on their own dime) any such parties involved. If so, it could have resulted in many years of going through the process without any guarantee of the non releasers being successful of receiving anything.
..... simply put, because you signed a release does not mean, or guarantee that you are the owner of the former estate, which by the way, does not exist anymore... it was cancelled, and emerged as a new entity called WMIH...., as well as any values you once held in the now DEFUNCT COMPANY CALLED WMI.....this was evident when WMI said all common and preferred shares were cancelled, and extinguished, and all rights to former prospectus are NULL AND VOID,,,,, read the post that newflow put up on the board about releases, and their purpose.... Lodas
The Prospectuses (Preferred and Common) followed the Absolute Priority Rule (APR). The affected parties came to an agreement to adopt a new payout matrix (75%/25%). In order to implement the new payout matrix the Prospectuses needed to be voided.
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