I don’t believe that the FDIC can receive/except a JPM stock payment for WMB and it’s Assets to WMI legacy commons.
I don’t see the need for new Preferred shares because the payment structure is already in place. TPS is all cash because of the Exchange Event.
The February MOR Retained Earnings of $20.78 Billion, now worth about $27 Billion, or 2.7X Preferred Face held in Treasury Notes distributed 75/25%. The End of 75/25%.
The Equity Community Presentation proved to the Court that Class 22 would satisfy Class 19’s claims with a bonus.