The legal citation of Judge Walrath’s 2011 decision is current law...the amount of exact percentage participation of WMI Escrow Marker Holders ‘ beneficial interests in MBS is debatable but her affirmative ruling regarding MBS Trusts being bankruptcy remote is undeniable.
IMO...In laymen’s terms....Beneficial interests in MBS Trusts are bankruptcy remote, meaning the bankruptcy estate has no claims to any assets that will be recovered due to the WMI Escrow Marker Holders’ beneficial interests in MBS Trusts. Those assets (“retained assets”) are outside of the bankruptcy.
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