Replies to post #3110 on Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[Donotunderstand]

Rumble

that filled in a bunch of holes

I like how you phrased it - which is reality. The RONotes were "created" to strip the value (of much of WMMRC) from WMIH and move it to the LT (where operation of WMMRC was not possible). Failing to make them cash - the LT (not WMIH) paid it to our brokerage accounts

The LT I believe from memory or numbers should be able to pay all of that 65% - a tax refund and lots of claims denied freeing up funded claim reserves?

Now - at the end you note that WMMRC will pay dividends to WMIH to retire the rest of the notes. (Thus WMIH will pass those payments on the LT).

Now what happens - if - all of the RONotes (which I assume was some estimate of NPV of a stream of income) are paid off by the LT to us and WMMRC still has income or assets? Do they go to the LT or to WMIH or to WMIH to give to the LT?

Thank you

As I hold H and regular preferred and common escrow and WMIH stock I am not sure which I prefer