Dime Bancorp Inc (fka DIMEQ)

[NASCOW]

Spot on MrchntDeth

B. The Disclosure Relating to the Impact on the
NOLs Based on the LTW Treatment Is Inadequate
16. On page 213 of the Disclosure Statement, the Debtors state that if the LTW
Holders have a large equity interest in Reorganized WMI, at the time they get their distribution from the Disputed Equity Escrow, that could cause a subsequent ownership change, which in turn could substantially affect the unlimited usage of the NOLs. The Disclosure Statement needs to have a better description of this potential risk since the unlimited use of the NOLs is a significant component of the value of Reorganized WMI. Equity holders are voting on the Plan, and are required to give third-party releases in order to get a distribution under the Plan. As such, it is imperative to give proper disclosure of what they may or may not receive in exchange for their vote and giving such releases.

http://www.kccllc.net/documents/0812229/0812229111221000000000021.pdf