Let us see what transpires by EOY 2020. Then by 3/31/2021. Unless we have an extension by Rosen, we should know all. No further discussion on the outcome is need at this time imo. Thanks to all!
AZ, if I may ask, besides WMI's Capital Trust, how many other trusts are there that could possibly generate a return for the common releasing shareholders?
So Commons are the ticket?...lets examine that theory.
1) Common Equity only survived because the EC represented both Pref and Common Equity. If not for that fact Commons were TOAST!
2) ALL WMI assets that remain belong to both Pref and Common Equity...FACT!!! There is no distinction between them outside of the proportions (75/25) under the POR.
3) The POR does not allow for the lower priority Commons to be paid before or separately from Prefs. The POR is now the LAW re all distributions to former WMI Pref and Common Equity.
4) The UW's and other HF holders that supposedly know about "hidden" assets, yet they DO NOT own Commons nor ever sought to be placed in the lower priority, Class 22. Now that's weird for supposed BIG PLAYERS!
5) Pref releases were all 94%+ of their totals while only 69-70% of Common holders released.
Commons are more valuable than Prefs??? What a joke!!!
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