Washington Mutual Preferred fka WAMPQ

[marayatano]

I doubt the EC would (can) prejudice the preferreds anymore based on the 70/30% split.

The way I look at it is there are only 2 real pools (Dimeq is #3):

Pool 1: Initially, Preferrds pool consisted on p/k only. TPS/REITS lost their battle and are in appeal, meanwhile TPS/REITS dilute p/k by more than double dilution.

Pool 2: commons.

Dimeq coming in and diluting commons pool should not be factor of reallocating the 70/30 in favor of commons. The 70/30 split is already bad enough for prefferds.

... and I agree, Dimeq prospecus is based on "commons" pool.



Commons got a great deal out of this settlement.


imo of course

Based on the dime prospectus only the commons can be diluted in the event they are classed as equity(30% to approx 9% ownership of newco shares). The prefs can only get a haircut if the ec agrees to re-jig the settlement to reduce the effect of dilution on the commons.