~ “Fair & Reasonable” ?, Depends On Ones Choice Of WMI “Participation” IMO, Right ? ~
The PIERS Holders, initially got their way and were Court determined to be WMI “Debt” ... (it’s what they initially wanted) ... But ? ... that didn’t work out so well later on, when Plan 6 Failed and the PIERS were then needing to be ... “Capped” ... to be applicable to a Plan 7’ Creditor ...
Obviously, ... The TPS Participants were not pleased with the Approval of Plan 7’ ... their “REIT Cash” got combined with the WMI Preferred holders, all neatly packaged up by the Courts Ruling in “Equity’s” Tranche 6 Class 19’ ...
and the “Docket” Itself, reveals numerous submissions filed against Plan 7’s approval ... but ? ... it’s done’ right ? ... ”it is what it is” ....
As I’ve posted, ... there are WMI Trustee referrals, giving the Trustees (plural) their directions placed both in the Disclosure Statement as well as in Plan 7’ ... WMI specific ...
... and then there is the WM Capital Trust, ... Which immediately entered into its “Liquidation Preference”, when WMI’ filed for bankruptcy protection ... WaMu’s, ... WM Cap Trust’, ... was never able to ever be acquired ...
... Even if ? ... WaMu had decided to sell itself or sell off a part of its holding company corporate structure, ... the WM Cap Trust was always going to enter into its ... “Liquidation Preference” ... always’
“The Cases Need To Be Closed” ... once We’ see those submissions ... ? ... Judge Walrath said she would timely accommodate that’ ... if ? ... that becomes a reality on or about 10/31/2019’ ... ? ... things will become very, very, very, ... clear’ ...
~ Know What You Own ~
~ Understand Plan 6 “Participate” In Plan 7 ~
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