@xoom........
Pursuant to the Global Settlement Agreement, and as more fully set forth therein (a) JPMC or its designee will be deemed to be the sole legal, equitable and beneficial owner of the Trust Preferred Securities, (b) the WMI Entities will be deemed to have sold, transferred, and assigned any and all right, title and interest the WMI Entities may have or may ever have had in the Trust Preferred Securities, (c) any obligation of WMI to transfer the Trust Preferred Securities to WMB, including in accordance with that certain Assignment Agreement will be deemed to have been fully satisfied by the contribution to WMB of the Trust Preferred Securities as of September 25, 2008 and thereafter sold and transferred to JPMC in accordance with the Purchase and Assumption Agreement, and (d) all Claims against the Debtors, the WMI Entities, the JPMC Acquisition Entities, the FDIC Receiver, or FDIC Corporate with respect to the Trust Preferred Securities will be released and withdrawn, with prejudice.
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49 As previously stated, the Trust Preferred Securities had a liquidation preference of $4 billion. Thus, every $1,000 of principal amount of REIT Series is equal to one (1) depositary share. Every $1,000,000 of principal amount of REIT Series is equal to one (1) share of WMI’s preferred stock.
looks like JPM owns these Trust Preferred Securities....good luck in getting payment and interest from them....however, WMI has no more Title to them......Lodas
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