YES ... we agree the Ps & Ks aren't being disputed and will be paid through the WMI assets. The Caymans are the only ones in dispute.
Since WMI requires legal and accounting folks to figure out who and how these get paid, I can't even guess as to where these will fall on the balance sheet until they disclose it. Rosen had to include those in his statement to justify his not responding to the UST with a list of equity shareholders.
As far as the 8-K statement. This statement prefaces the one you mentioned in your other post:
WMB has received confirmation from the Office of Thrift Supervision (the “OTS”) that the Company Preferred Securities are eligible for treatment as core capital of WMB under the OTS’ applicable regulatory capital regulations and intends to treat the Company Preferred Securities accordingly.
With WMB now being part of JPM, I'm sure there is huge issue with who is responsible for paying off these Preferreds since they were WMB capital. Especially since WMI received one-half of that amount in the "fire-sale".
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