AZCowboy - YOUR VISION THAT CLASS 22 OWNS THE FORMER WaMu ESTATE & 75/25 OWNERSHIP IS LAUGHABLE
1) You also agree by your history of posts that the (OC) Ownership Change did not happen and/or does not matter
2) You further believe the Preferred and Common Prospectuses were not canceled and these carry on forward never being affected by the Delaware BK Court
3) You also believe the 75/25 ownership does not apply to Safe Harbor assets as class 22 owns all of this except for possibly two to four par coming for Preferred
4) So, let’s say I potentially agree with your posit then this means you have to agree to the following as one cannot cherry-pick whether the BK Courts affected the ownership rights of Safe Harbor assets or not
5) We know that in Oct of 2018, there was a Reverse Split applied at a 1-12 ratio to the common shares and the Preferred was NOT AFFECTED by the RS
6) So, using an example of 12,000 shares, then for every 12K shares you would now have 1,000 shares, and for every 12,000 Preferred shares you would still have 12,000 Preferred shares, so an ABSOLUTE TREMENDOUS difference in value for whatever comes back
7) Then of course for the kicker if that was not enough, since the former Prospectuses were not affected then that means Preferred still carries an OPTION TO EXCHANGE INTO COMMON SHARES at a very GENEROUS RATIO and sorry one cannot cherry-pick to make one’s case. Further, if the Prospectuses were not cancelled then Preferred is only entitled to $1,000.00 par Face Value….HmmmHmmm
8) So, again, do I need to explain why the PREFERRED are so much more well, PREFERRED
9) If you cannot comprehend the aforementioned, then maybe you can understand that the Reverse Split ONLY applied to common shares and not PREFERRED letting them maintain even much more, so well, THEIR PREFERRED STATUS HAS A HUGE PRIORITY by a 12-1 margin
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