Dime Bancorp Inc (fka DIMEQ)

[marayatano]

Really? Are you serious? Okay, it's like this. The current thinking from the EC and the Debtors prior plans is that DIME has no claim.

If they land in 12, boom, everything from wahuq down just got a 330 million bich slap.

If they land in 18, boom, preferreds and commons get the slap.

And finally if they land in 21, the commons are diluted into oblivion.

Class 12, I agree, however, colorable claims prevailing bring distribution all the way down to preferreds Classes, 19 and 20 (P,K TPS).

Class 18, agree and disagree. In a cram down, the waterfall will stops at preferreds and Dimeq gets paid. In a settlement, the water fall did not reach Class 18, it stopped at Class 16 PIERS aka HUQ. Therefore, there is no money for Class 18. If Dimeq is classed at 18, then they are toast (settlement wise, UNLESS they were included in the settlement, even though Walrath said they need not be in the mediation settlement, however, that was before the ROsen Class 18 footnote in the pleadings). Rosen put in the clause about subordination of Dimes to Class 18 for a reason. We all know, Rosen does not just throw virbiage for no reason.

Class 21, we really do not know what the impact will be in a settlement, however, in a cram down, it will be toast like the commons.


NOTE: When I mention "cram down", I am taking into account EC going forward with it colorable claims re: IT and prevailing in whole or in part. Without the colorable claims, anything below HUQ is toast.

imo