Rocket Companies Inc (RKT)

[ron_66271]

Retained Earnings are Positive.

RE is cash invested in Treasury Notes.
The February MOR doesn’t reflect the 75/25% split because Plan 7 was not yet approved but the split rate was agreed to. TPS!
RE proved to the Court that Class 22 will satisfy Class 19’s claims with a bonus.
Therefore APR was waived.


In thousands;
RE-Class 19 = Class 22.
$20,770,849 - $7,498,857 = $13,088,962

Now you know where the $13,088,962,000.00 came from.

The Table contains three sets of tables.
Now the second set of the table titled “Distributions”;
The RE is not in parentheses, but Classes 19&22 are.

This is how the money and the obligation are transferred from one ledger to another.

The third set is Plan 7, there are no RE or Classes 19&22 entries.
This is why the Retained Earnings are never discussed in the body of the February MOR.

My estimate for RE is $27.7 Billion now.


Page 12/22;

http://bankrupt.com/misc/washingtonmutual_febmor.pdf



Ron