Relevant paragraph from the agreement
"The FDIC-Receiver will treat the Trustee Allowed Claim proportionally with all other allowed general unsecured claims and will not subordinate or otherwise diminish the Trustee Allowed Claim. Any and all distributions on account of the Trustee Allowed Claim will be made by the FDIC-Receiver to the Trustee as and when the FDIC-Receiver makes distributions to other general unsecured creditors holding allowed claims in the WMB Receivership Estate"
If something is said to be treated proportionally, that does not only mean pro rata or fractionally to something else. It can also mean equivalent or comparable to,.... in terms of it's GU status.
Therefore using the examples I cited, the DB claimed would be treated the SAME as other GU claims. IMO, purposely vague language.
My adamance that the claim would be paid in full is bolstered by the FDIC admission a few words further along. The FDIC will not "diminish", specifically the Trustee allowed claim, ie reduce same.
Clearly the present situation does not support my view, as with most aspects of this bankruptcy, but IMO the wording does. I will therefore continue with this "unconventional" train of thought.
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