BankUnited Financial Corporation (fka BKUNQ)

[jaxstraw]

I should have clarified more.

I should have stated either the FDIC gets all the money or just some as an unsecured claim while the rest would be applied to other claims depending on the appeal decision.


The FDIC has a Class 4 General Unsecured claim for 45mm.
The POR/DS clearly spell out that the Class 4 claims will have a range of 200k to 45,200,000 ( notice the difference is 45mm) based on the decision of this order.
If the FDIC win on appeal they receive the whole 45mm and the Class 4 claims become 200k.
If the bank wins on appeal the 45mm must go into the net free cash that will be used to satisfy the Class 3 Senior Notes and the Class 4 Unsecured Claims thereby increasing the pro rata distribution to both classes under the POR/DS. (This is the current scenario based on today ruling).

The bank gets nothing to keep in it's coffers irregardless of this decision or the appeal.