Replies to post #6646 on Dime Bancorp Inc (fka DIMEQ)

[loginusername]

Brutus -Correct! Do you understand item 3? I can't get a good explanation. By choosing runoff notes in lieu of cash, are we giving up cash from class 12? I want the 5 cents or so from class 12, plus the 8.77% of the equity 30% or whatever portion of new stock. Any idea what to fill in on the form? Kcc was no help.

I have to read the plan sections referenced on the form. I just noticed the long paragraph above the item 3 box is one sentence. It's incomprehensible.

My inclination is to opt in and nothing else but I have to read further.

It also seems that at 5 cents these may be worth buying.

And you are exactly correct. Another portion of the plan states that the cash will be set aside and on three month intervals the debtor will attempt to contact holders.

[linda1]

OK - I have read Section 31.6 (c) and YES you are correct - ONLY IN THE EVENT A PARTY DOES NOT SEND IN AN ELECTION FORM WITH THE OPT IN OR OPT OUT BOX TICKED.


So if you send in an Election Form and tick either opt in or opt out you will not have the 1 year period apply.



Here is most of Section 31.6 (c) -



(c) Reserve Pending Delivery of Third Party Release.

Notwithstanding anything contained herein to the contrary, in the event that a holder of a Claim

entitled to a distribution hereunder fails to execute and deliver prior to the Ballot Date the third

party release required in accordance with the provisions of Section 41.6 of the Plan (other than

(a) holders that affirmatively elect to opt out of granting the releases provided in Section 41.6

and (b) holders of Claims in Class 17A and Non-Filing WMB Senior Note Holders), (i) from and

after the Effective Date, the Disbursing Agent or the Liquidating Trustee, as the case may be,

shall reserve amounts of Creditor Cash and Liquidating Trust Interests (but not Runoff Notes)

otherwise to be distributed to such holder, (ii) provided that a third party release is not executed

and delivered by such holder to the Liquidating Trustee prior to the three (3), six (6) and nine (9)

month anniversary of the Effective Date, on or prior to the fifth (5th) Business Day following

any such date, the Liquidating Trustee shall serve a notice (together with a form of release) upon

such holder, either directly or indirectly through such holder’s nominee, informing such holder

of such reserved distribution and the requirement of such holder to execute and deliver such third

party release to the appropriate trustee prior to delivery of such reserved distribution, and (iii) in

the event that, on or prior to the one (1) year anniversary of the Effective Date, such holder fails

to execute and deliver such third party release to the appropriate trustee, then, such trustee shall

be deemed authorized to permanently remove such holder and its corresponding Claim from

such trustee’s books and records and any consideration held for distribution on account of such

Allowed Claim shall revert to the Liquidating Trustee for redistribution to holders of Liquidating

Trust Interests in accordance with the terms and provisions hereof. Without in any way limiting

the foregoing, release elections, whether submitted in accordance with this Section 31.6(c) or ....... "