I direct your attention to page 195, Section O-1...........Title to assets as belonging to the Debtor
section O-2.....Discharge of Release of claims AND TERMINATION OF EQUITY INTERESTS...
section O-3..... Release by Debtors, Creditors, and Equity committee...
it appears by this language, that upon signing releases in exchange for stock in the new company, that a signed release relinquished all rights to any further equity payouts, and that the company , WMI, retained all ownership rights to Trust assets, and company assets...in simpler words, we signed away any further distributions of cash, or stock, other than what Susman bargained for at the mediation.....
INTERESTING DTC SERVICES ARE MINISTERIAL IN NATURE Participants and other authorized users expressly acknowledge that the services provided by DTC are ministerial in nature. Moreover, as further reflected by DTC's fee structure (which typically bears no relationship to the dollar value of any given transaction), DTC does not accept any risk of loss to Participants, other authorized users and possible third party beneficiaries with respect to transactions being processed by DTC. Page 8 https://www.dtcc.com/-/media/Files/Downloads/legal/service-guides/Reorganizations.pdf So in this case authorized users must be admins of WMILT.IMO.
Page 23 about escrow CUSIPs. About the Service The majority of Mandatory Reorganizations are those reorganizations for which no election option exists – i.e., no participant input is required. DTC processes these actions and will act on your behalf. When a mandatory reorganization occurs, DTC will: • Notify you of the upcoming mandatory corporate action via CA Web Announcements and ISO 20022 messaging • Process the mandatory corporate action on your behalf • Submit the affected securities to the agent and collect entitlements from the agent • Allocate the entitlements to you Some mandatory corporate actions result in the creation of an escrow CUSIP with position for each participant based on the position as of a certain date in anticipation of future payments. For these CUSIPs, DTC will also perform the actions noted above. Some mandatory corporate action events allow participants to input an instruction that identifies and/or certifies the beneficial owner’s right to a specific entitlement based on the terms of the event (e.g., tax withholding based on residency or a mandatory event with a cash out option for positions held that are less than a certain amount). These events will be set up similar to a Voluntary Reorganization Announcement (as noted in the Voluntary Processing section).
What LT says? APART FROM CERTAIN MINISTERIAL ACTIONS TO BE TAKEN BY THE TRUST ADMINISTRATORS IN CONNECTION WITH COMPLETING WINDING-DOWN OF ITS OPERATIONS, WMI LIQUIDATING TRUST NO LONGER HAS ANY ACTIVE OPERATIONS AND HAS DISTRIBUTED TO AN ELIGIBLE CHARITY (I.E., ITS SOLE BENEFICIARY) ALL BUT A DE MINIMIS AMOUNT OF CASH AS CONTEMPLATED BY THE PLAN AND TRUST AGREEMENT (DISCUSSED MORE SPECIFCALLY HEREIN).
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