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Post# of 730297
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DanBB

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DanBB

Re: Reptile post# 130082

Tuesday, 12/22/2009 7:56:24 PM

Tuesday, December 22, 2009 7:56:24 PM

Post# of 730297
To be clear, we're talking about solvency of the WMI estate in BK. Not solvency of the bank at the time of seizure.

From what I've read it's all a matter of degree. Slightly insolvent and an EC can stay and get creditors to take a slight haircut so equity gets something. Extremely insolvent and the judge can make the EC disband.

In addition, there can be multiple EC's for different equities. I don't think it will get to multiple EC's.

I think this all ends no later than April/June, if not sooner.

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