Type G reorganization....transfer by a corporation in bankruptcy of all or part of its assets to another corporation, BUT ONLY IF stocks or securities OF THE TRANSFEREE corporation are distributed to the shareholders tax free or partially tax free. I believe Johnny Winter was alluding to the fact in a previous post that bondholders would be the shareholders of the new company.....not true. There will be no new company. The deal is done IMO but they are waiting on a few technicalities (tarp warrants) which is why we've had no hard rulings from Judge Walrath. Expect an announcement of a share swap soon with JPM for commons and a payout of full face for preferreds. Wamu'ers will be paid soon and BIG. I expect the swap ratio to be better than anyone could have expected.
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