~ Correct', Prior to the WMI BK's Being Filed, The WMI Capital Trust Had A Structured "Annual" Interest Yield Dividend Release @ .05375 ~
The PIERs Bonds were forward moving interest earners with an initial cost of $50.00
Distribution Dates
February 1, May 1, August 1 and November 1 of each year,
However, once the BKs were filed and the WMI Capital Trust went into its Liquidation Preference, ... the structured dividend release dates ended ... and the accumulation began' ... the interest yield never changed'
What many continue to miss ?, is that the WMI Capital Trust was not able to be part of the WMI BK's or the "Holding Companies" Plans for Reorganization ... it was a separate functioning entity' ... meaning that, ... The WMI Capital Trust COULD HAVE' Continued to function in a restricted condition, outside of the Holding Companies BK's the entire time' ...
It was rosie' that stuck his nose into things, with his attempts to benefit JPM, with the failings of the 1st private rights offering which lead to both of the "6" denials ... rosie was trying to drag the PIERs into the process' and benefit a group of chosen ones' ... Judge Walrath Fixed It
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