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Re: clawmann post# 2685

Thursday, 08/22/2013 2:59:39 PM

Thursday, August 22, 2013 2:59:39 PM

Post# of 3649
yes, that's a good start.

from docket #11341:
"34. Through the resolution of Disputed Claims and distribution of Trust assets, the Trust has distributed approximately $572 million to holders of Liquidating Trust Interests since the creation of the Trust. As of August 1, 2013, Tranches 1 and 2 of the Plan’s Waterfall Recovery Matrix have been paid in full, and only $16.9 million of Tranche 3 remains to be paid before creditors in Tranches 4a and 4b will receive distributions."

"35. As discussed more fully below, distribution of the $67 million in excess reserves as contemplated herein would enable the Trust to pay Tranche 3 in full and the vast majority of Tranche 4a. And, notably, to the extent that Tranche 3 is paid in full, Section 31.14 and Articles XIX and XX of the Plan provide that the Trust can distribute Runoff Notes with a face value of approximately $117 million as of June 30, 2013 to holders of Liquidating Trust Interests. Thus, absent other relief being granted by the Court, granting the relief requested herein could make available for distribution assets in excess of $184 million."

So, if the the judge signs off on release of some claims reserve, it could be up to $184 million

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