In other words the theory here would be once everything is closed over eventually maybe someday the checks will just suddenly start to appear in the mail?
Yes, Johnny. We need to be turning our focus to The FDIC/FRB for 510(b) distributions, not the WMILT. The only exception is DER and WM Capital Trusts 2001 which are not an assets of the LT.
Class 18 is in 510(b). 510(b) is the Pay-Point for WMB issues.
MARTA and Tranquility Master Fund are both in 510(b) because WAAC and WMMSC are "affiliates of the debtor" WMI. MARTA and Tranquility Master Fund and all other ABS investors like WMI subs will receive their accumulated cash/funds as the FDIC/FRB release the ABS Trusts from SaveHarbor. 510(b) is the entry point for these distributions. FDIC/FRB need a quiet Docket as not to make distributions as litigation relating to the Trusts is happening. So, Shut-up Alice.
No need for MARTA to re-file when MARTA is paid. Just that simple.
510(b) is also the Pay-Point for "the Final Payment" to WMI from FDIC for "WMB and it's assets".
510(b) comes from FDIC/FRB. We are now at Tranche 5 to make distributions to all ABS holders like MARTA and Tranche 6.
ADD; Someone please tell jerry I don't read any of his posts.
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