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tanjazielman

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tanjazielman

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Tuesday, 11/05/2013 9:24:58 AM

Tuesday, November 05, 2013 9:24:58 AM

Post# of 731674
Hello people,

I would like to know what your thoughts are about the release of $12 of the 20 million held for litigation reserve by WMI LT?

Why release it? I understand they have pending cases against GS, D&O insurance and Employee claims. Also litigation is possible till march 2015 with an extension for three years (think Credit suisse and other underwriters).

Why release more than half of this reserve NOW? As a result only $4.8 million of $20 million is left in reserve. Like to hear what the thoughts of the board are on this.

It's on the QSR of Q3 2013, page 11 of 17, note 5:

http://www.kccllc.net/wamu/document/0812229131030000000000001
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