Pick, the following paragraph is from the class 19 claims payoff... those who held valid preferred claims could opt to participate in the funding of a credit facility for WMIH... this is a special fund participation and those that bought them are entitled a return... these instruments have nothing to do with the general class 19 claims, but are separate... thats why AZ Cowboy says he gets a dividend, but he is misleading the message board by saying released class 19 will eventually get back dividends... here is the text:
Additionally, pursuant to the Plan, Reorganized WMI shall, on the Effective Date, enter into a credit facility providing for the funding of, among other things, working capital, permitted acquisitions, and permitted originations by Reorganized WMI, as fully set forth in the Credit Agreement annexed to the Plan as Exhibit “C”. Until the Voting and Election Deadline, the Debtors shall market the terms of the Credit Facility in an effort to obtain terms superior to those set forth in the Credit Agreement annexed to the Plan as Exhibit “C”. However, any Creditor or holder of an Equity Interest may, upon
(1) presentation of financial information necessary to establish the ability to participate as a lender in accordance with the provisions of the Credit Facility, and (2) the consent of the Equity Committee, which consent shall not be unreasonably withheld, become a lender under the Credit Facility in lieu of the lenders contemplated pursuant to the Credit Agreement. Prior to the commencement of the Confirmation Hearing, the Debtors shall file a notice with the Bankruptcy Court setting forth the lender(s) selected to provide the Credit Facility. If you are interested in becoming such a lender, then before the Voting and Election Deadline you must contact the Debtors at WMI-Lender@wamuinc.net.
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