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Bluzie2

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Bluzie2

Re: linda1 post# 5454

Sunday, 01/01/2012 8:10:34 AM

Sunday, January 01, 2012 8:10:34 AM

Post# of 8307
Well, I do think that one important factor is that the LTWs _arguably_ don't involve the purchase or sale of a security. Remember the bankruptcy definition of "debt" versus "equity" again - something to the effect of a debt can be exchanged into an equity without consideration (I don't have the information handy right now). In this case, the LTWs are exchangeable into Wamu stock w/o consideration. If we're considered a debt under bankruptcy because of that, almost by definition we can't be class 18.

Almost.

Oh well.
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