"WAAC and WMMSC are affiliates of the Debtor". WAAC and WMMSC were the Securitization issuer for WMB. Yes, WAAC and WMMSC are 510(b). Therefore all Securitizations by WAAC and WMMSC are in 510(b) and paid into Tranche 5, 510(b). The Securitizations themselves will satisfy MARTA and TMF claims with their CERTs owned.
What doesn't belong to other institutions like MARTA and TMF, and that was invested in by WMI subs like WMIIC go to Tranche 6 class specific participation for distributions. Same for the payment for "WMB and it's assets".
WMI is a creditor to WMB. With the purchase of the bank WMB by the FDIC, JPM takes responsibility for all Class 17 WMB Notes.
I'm not sure what exactly comprises the ALLOWED Class 18 claims but they total $38.2M in actual claims and $8.4M in interest.
The DISPUTED Class 18 claims totaling $400-$600M include Marta, Tranquility and other funds that invested in WAMU MBS's. It also includes certain WMB Class 17b Notes claims which are also disputed.
IMO these will most likely be denied as the EC claims were.
EDIT: That CIC business is ron's theory with which I do not subscribe. Not credible IMO.