Washington Mutual Preferred fka WAMPQ

[steved_45]

Bluebird,

I thought I'd reply so others can read this. I get all my numbers from the Jan MOR. According to my numbers, Rosen is our hero. What does everyone else have for their numbers? I'm hearing b/t 175MM (5% face for P's &K's) and 700MM (20% face) left over for disbursement. I don't see why. Steve

Assets: 6.93B
Liabilities* (8.31B)
Settled Trust Pref's** .337B

Total (1.043B)

Proposal w/deposit
and NOL's 5.9B

Total for
Disbursement 4.857B



Wampq and Wamkq's total face value is 3.5B. Paying P's and K's in full, there's 1.357BB left for litigation, accounting fees, and common shareholders.


*6.56B in bonds (senior, subordinated, and junior subordinated debt). Hence Kirsten Grind saying bondholders who claim about 7B would be paid from the proposal. Also includes the 16.8MM post petition liabilities that sounded like were settled.

** Capital trust preferreds Wahuq's are subordinated unsecured debt so the proposal will decrease the liabilities by between 337.68MM (10.08MM s/o x 33.5/share) and 503.7MM (full face value--10.08MM x 50/share). This doesn't include Cayman's b/c I don't know their value.