Washington Mutual Preferred fka WAMPQ

[marayatano]

Under normal circumstances, I would categorized DIMEq as a warrant and void as an excretory contract, however, this one is different in which it was attached to litigation proceeds. Litigation tracking warrant was a bad name for these securities.

DIMEq adversary proceeding is derived from a alleged breach of contract that resulted in a claim against the WMI estate.

That claim, if prevailed against WMI, will categorized as a creditor (Class 12 or 18). Rosie is saying subordinate the claim, ie Class 18.

There is no ambiguity. You can either be equity or debt/creditor.

If the Court finds that the LTWs are equity then the LTW holders have claims in Class 21. If the Court finds in favor of the Plaintiffs on their breach of contract claim, and finds the LTWs are not equity securities, then the LTW holders have claims in Class 18.

imo