Washington Mutual Preferred fka WAMPQ

[rainbow1111]

You can vote yes, or you can vote no. You will get a distribution of NewCo shares and shares of the liquidating trust. This is spelled out very clearly in the DS.

If you check the opt-out box, you will NOT get a distribution. This also is spelled out clearly in the DS and is spelled out clearly on the ballot. Please, do not check the box. Please note that this is my first, and hopefully last, use of color on this or any other board.

The emphasis is as printed on the ballot:

Item 4. Optional - Opt-out Election. By checking the box below, you elect NOT to grant the releases contained in Section 41.6 of the Plan. Election to withhold consent is at your option. Please be advised that if you check the box, you WILL NOT be entitled to a distribution under the Plan.

Then the ballot goes on to say the following:

Note: By failing to check the above box, even if you vote to reject the Plan you will be deemed to consent to the release.

In my opinion, they made the ballot as clear as possible without filling it out for us.

For people who are reluctant to give the releases: Think of it as how insurance claims are handled. The paperwork says, we will pay you $10,000 for the car you stupidly wrecked. As consideration for us paying you for your dumbness, you agree to accept the enclosed check in full payment for your claim and you agree to never, ever, in a million years sue us for this claim.....and this binds your heirs as well. If you agree to these conditions, cash the damn check and move on. Otherwise, go ahead and sue us. We have more money than you do.



All in my opinion.