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Re: linda1 post# 131659

Thursday, 12/31/2009 1:12:15 PM

Thursday, December 31, 2009 1:12:15 PM

Post# of 749756
The Cayman Preferreds are under dispute according to the MOR so I would say it's uncertain as to what is WMI's responsibility in the payout.

Seems to me it's one of those open items like the tax refunds.

Here's the SEC 8-K filing. The language to me implies it would be a WMB asset ... not sure why WMI would need to cover it's value. There must be a reason why Rosen mentioned it, though.

http://www.secinfo.com/dsvR3.v1Zg.htm#1stPage

Someone else might be able to figure out the language better than me.

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