"In accordance with the Plan, the Trust will issue LTIs to WMI’s former shareholders if, and only if, the Trust is able to monetize Liquidating Trust Assets in amounts sufficient to payin-in-full claims held by beneficiaries of the Trust who are senior to members of Classes 19 and 22, and then, only if a shareholder had satisfied timely all conditions applicable to receiving any such Liquidating Trust Interests. There can be no assurances that the Trust will be able to monetize assets in a manner sufficient to give effect to the foregoing."
So, if the disallowance of the employee claims stands, then the related money in the Disputed Claim Reserve would be freed up for distribution in accordance with the Plan. That should mean that something finds its way to former equity, and prior to that distribution former equity will receive LTIs.
In addition, there is still a possibility - just acknowledged by the LT - that there may be some additional money coming as a result of the LIBOR litigations.
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