tz - right now, I think that we will see full payment on PIERS. There seems little doubt now on that, WMI/WMMRC are retiring/commuting policies, and we're seeing as rapid of a resolution as is practical on all of that debt owed.
There are way too many variables/balls in the air - to make solid predictions -- for the next classes, as well as the employee claims, and the D&O litigation.
I think the developers of the "trust" had pretty good ideas on what was going to be 'winable' and what was not. After all, they are all excellent lawyers -- on both sides.
So, to that end, it seems obvious to me that we are likely to see all debt classes (before equity) adjudicated and paid.
The employee claims -- I sincerely hope they get nothing, or pennies on the dollar. But each claim is unique to a degree and we may see some in-full, or some completely wiped out by the court.
And the progress on the D&O insurance has been painfully slow.
All in all -- my PURE guess -- is that IF we are successful on eliminating MOST of the employee claims AND we are successful on the D&O insurance -- we are talking between $10 to $50 on Ps with $100-150 at the outside extreme (someone else can do the math on K's/Commons)
BUT that comes with the opposite side -- if we don't have great successes on employee claims and have to pay out a lot, and we are not successful on the D&O insurance, then I don't think we're going to make it through all the classes before equity, and before the WMILT is 'retired' (3 years + 3 years)
Regardless -- there is quite a bit of a wait still. My expectations are another 2-3 years. This is largely due to how long, at the slow plod, the D&O is taking (and going to take).
...Catz
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