Washington Mutual Preferred fka WAMPQ

[mordicai]

even more so. Once you file chapter 11 you can't downstream part of the estate without the approval of the judge. And if they did so within minutes of the bankruptcy filing , it would be an avoidable preference. But as the Tps lawsuit points out in order to transfer securities, the ucc has to be followed and it wasn't . Moreover, equity courts must follow the law. So how could the por ever be approved if it attempts to circumvent the law with respect to the Trust preferred securities. I think we are going to get face !