~ LP, Well My Best Answer Would Simply Be A Speculation' ~
Had Plan 6 been ABLE to ultimately be approved with the WMB Noteholders acceptance of an offered Class 12 General Unsecured nomenclature, ... the "employee claimant" issue would have ended' as well as there would not have a been a need for the continuing use of a WMI-LT's DCR and DEE' ...
Collins' himself states on the Docket' with signature', that in order for a CIC to have already occurred ?, then WMB's assets would have legally needed to be the majority of WMI's original valued holdings' ... Which', as Collins States on the record', WAS NOT The case, so per the WMI-LT, a CIC did not happen, which was just approved and finalized last Tuesday July 2nd, 2019 ...
"My question is, does LT need to exist as a "pass through entity" for escrow payment?"
I'll reword the answer to your question just a bit', ... The WMI-LT, WHILE IT EXISTS, ... legally is a Delaware Registered "Grantors Trust", able to be used as a Pass-Through mechanism' ... however, as I said earlier, ... the WMI-LT is able to use your markers as far as the WMI-LT is concerned, and IMO, must distribute its QSR reported remains according to the 75/25% ratios, ... remaing amounts are SEC Filed in QSR's ...
... However', ... your "Tracking Marker" are actually Class Specific to your original ownership', as well as aligned to your original class support' ... be either a Class 22, as aligned with WMIH, or as a Class 19 as aligned with Preferred Funding Trust III', ...
... this delay and blocking mechanism I've spoken of, has kept "everyone" in a financial holding pattern ...
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