newflow, great information and just goes to prove there is more there than meets the eye. Just the way this document reads even though I understand lawyer legal speak and CYA boiler-plate material, this never-the-less speaks volumes.
And guess who is the last one standing after Rosie, WMILT, and tons of legal teams over the years? Yes, the very one (Doreen Logan and company) who knows where ALL the bodies are buried, knows where ALL the gold is and also KNOWS what needs to be righted (YES, WMI INC) before HUMPTY DUMPTY (thanks RD) is put back together AGAIN!
Remember, WaMu bk was a chapter eleven REORGANIZATION which means it will be put back together to the point it would be equal prior to reorg or better. So the last step is to resurrect WMI INC, issue timely signed investors a private placement of WMI INC stock that will NOT trade publicly and which can ONLY be sold to WMI INC if one is able to make the threshold they will assign in the future otherwise will be paid out a Book-Value which will also be assigned later. WMI INC private placement issue (stock) CAN ONLY be issued to ONLY those investors who signed timely releases by the year 3/2012. All in my view based on what I think I have learned from the documents and more.
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