Washington Mutual Preferred fka WAMPQ

[marayatano]

Dudebug:

Disallowance can only come from litigation, in which case, any funds from disallowance will flow in the order of the water fall of absolute priority. I agree with the other posts you saw.

My post was about settlement, a voluntary redistribution (nice word for disallownace) of SNHs funds. SHN's funds redistributed to their direction (to the EC) since it was their money they received from the waterfall. The settlement is mainly between SHN and EC. Using the BK model of absolute priority, the $$ stops at H's.

The DIMEq is a variable of where it is placed in the water fall (in a settlement).

* Class 12, they get paid. (above H)
* Class 18, they get shafted again (because waterfall won't reach them) or "go away money". The $337 reserved is redirected back into the water fall to H's to slow the H's burn rate. (Below H)
* Class 22, conversion to NEW common at a to be determined ratio. (Above Commons)

Or heck, they may not have a claim, but we will see and wait for Walrath's ruling)

Don't anyone trade on what I post.

imo