~ Distro, Yes I’m Keeping An Eye On All That I’m Able To ~
The relevant legal process is finally moving, and we now have concise documented evidence ...
... Filing # 12563 is the final affirmation of the Bench Approved Original Filing # 12499, which was actually Bench Approved and Court Recorded on 10/16/2018 ...
So as I posted last Wednesday 11/14/2018, ... point 5 was in the process of being implemented by the Clerk’ ... and now point 5 is done
Currently, within the reaffirmation of the filed # 12499, and the rewritten 14 points in the # 12563’, approved directive, ... I’m watching for points 5 and 6, and 8 ... specifically
6 ”Except with respect to the Surviving Claims, WMI-LT is authorized to release and distribute such Cash and Liquidating Trust Interests held in the Disputed Claims Reserve on behalf of the Claims in accordance with the provisions of the Plan”.
8. ”With respect to the Surviving Claims, WMI-LT shall be permitted to adjust the disputed claim holdback, pursuant to Section 26.3(a) of the Plan, such that the holdback for each of the claimants holding any of the Surviving Claims shall be equal to the Section 502(b)(7) cap previously imposed by the Court per such Claimant”
(generally Rule 502 will limit an employee claimant recovery to no more that an equivalent of one years salary)
The WMI-LT’s 08/30/2018 Proposed Order was already Bench approved on 10/16/2018’, and Filing # 12563 reaffirms the Bench Order Approval In points 1 and 2 specifically’, with a few additional Court allowed tweaks’ added ...
... So basically, when the released payment finally hits for the completion of Tranche 4’, ... That will mean that All of WMI’s Senior Debt will have been paid off with 100% Cash, ... and everyone in the lower classes, will then get to move forward ...
~ As Well As The Newco’, COOP’ It Is The “Tell” ~
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