Only if you filed a claim against WMI. WMI has filed an objection to the claims. Anyone that has filed a claim and doesn't respond to the objection by July 6, 2010 will be disallowed.
It seems to me to be a way for WMI to clean up the claim sheet and open the door to making a deal with Broadbill exclusively as all other claims will go away. It was raised in the last hearing that the Broadbill motion is in fact NOT a class action suit.
Broadbill has been actively arguing that any settlement includes all LTW holders. This may be because they actually believe this????????? or that they don't want to have to have that fight at a later date when only they are awarded a settlement.
What to do? If you haven't filed a claim, nothing. Your already not on the list of creditors. Wait and see how things play out.
If you did file a claim it gets a bit more complicated. The choice is to pay a lawyer to respond or to allow your claim to be swept under the rug and hope Broadbill comes through. It's also a matter of just how many LTWs you hold. The lawyer fees can easily add up to more than some of our holdings.
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