while you technically correct about what "impairment in chapter 11 means", that is to say the debtor has to disclose any alteration in the plan of payment, such as a change in interest rates, this brings up my point that WMI made that statement should be further discussed....my point:
WMI stated classes 19, and 22 were "impaired with no further mention of remediation after the chapter 11 closed... as a matter of record, WMI stated that there were members of message boards promoting the idea that money was coming back.....it is also noted that class 18 claims were not fully satisfied fully....note that the waterfall of money stopped when WMI made about 6.9 Billion dollars in payments to the various classes of Creditors, but EQUITY got only shares in the new company WMIH that exited chapter 11....so, classes 19, and 22 got only shares in settlement for Fair/ Reasonable... now, if you look at the Fresh Start Accounting of WMIH in 2013, the company states it was only worth 76.1 million dollars, with about 34 million held in Trust, and made the statement that it was possible that it could not continue as "a going concern"....no mention in this document that Preferreds or common owned any estate, or that "impaired values" of the of shares would return... they state the old shares , along with any prior obligations for payments , along with common shares were cancelled, and extinguished....WMIH also state the values as discussed in court before exit of bk. were very different from audited values by an independent agency....so, my point?...in view of the fact with what I read, and the passage of 12 years without any substantiation by WMIH that they intend to alter the statement that they made of impairment, and the absence of any one entitled to more assets has not filed a lawsuit to recover these claims, those classes 19, and 22 are impaired from any future recovery... that is my opinion only, and should be discussed more fully by the message board... Lodas
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