Replies to post #30556 on Washington Mutual Preferred fka WAMPQ

[mattchew]

That makes sense.

I believe it all depends which is the first to be approved by those who are voting on it.

[MasterBlastr]

I think this is where POR v7 and Solomon's numbers and a cramdown comes in to play. Any creditor that gets 100% recovery does not have the right to vote. It might me in the hands of the preferreds whether to take the deal or hold out for something better. The trick will be to find enough undisputed assets to make a cramdown possible.