Replies to post #2348 on Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[rockie101]

NASCOW...11% or 97%...dollar wise per share what would it be ?

[marayatano]

Actually, they changed their minds... "After careful consideration of all publicly available data, including the Disclosure Statement, Whitebox has determined that confirmation and consummation of the Company's Plan is in the best interests of the holders of the junior PIERs securities. Whitebox encourages all stakeholders, including PIERs holders, to vote to accept the Plan."

MINNEAPOLIS and SEATTLE, Jan. 26, 2012 /PRNewswire/ -- Whitebox Advisors, LLC and its affiliated funds ("Whitebox") today announced that it intends to vote in favor of the Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code (as amended, modified or supplemented from time to time, the "Plan") recently filed by Washington Mutual, Inc. ("WMI" or the "Company"). Whitebox had previously indicated that it intended to vote against the Plan.

Whitebox stated, "After careful consideration of all publicly available data, including the Disclosure Statement, Whitebox has determined that confirmation and consummation of the Company's Plan is in the best interests of the holders of the junior PIERs securities. Whitebox encourages all stakeholders, including PIERs holders, to vote to accept the Plan."

WMI said, "This is a positive development for the WMI bankruptcy estate. Whitebox's decision is consistent with the Company's belief that the Plan and the recoveries for creditors and equity holders represented by the Plan are in the best interests of the estate and its stakeholders."

WMI's Plan and Disclosure Statement are available at www.kccllc.net/wamu. The Plan is subject to confirmation by the Bankruptcy Court. This press release is not intended as a solicitation for a vote on the Plan.

http://finance.yahoo.com/news/Whitebox-Advisors-LLC-prnews-3740375849.html?x=0