Replies to post #47 on Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[traderdon]

Yes. Indeed. SWEET!!!!

[thisismyscrewtoo]

This may be a dumb question but isn't the reason you file for ch. 11 for debt protection and possible non payment?

[hahawin]

Right. WahuQ is preferred stock to the Trust, but is junior bondhoder (subordinated debentures)to Washington
Mutual, Inc. in the event of B.K liquidation of debtor, WahuQ will become one of creditors in creditor committee to claim for its liquidation value of $50.

Other two preferred stocks and common shares are issued by WMI as investors of Washington Mutual, Inc. will be in the shareholders committee to share the rest of assets left, but preferred stocks has priority for the rest,and common stock get the last if lucky enough.

So,see the sequences of getting paid.