The legal bills are so egregious, inflated B/S. They consumed most of the remainder Estate and the judge routinely grants them. They equal about $1,000 per word. And, since his whole BK case is based on a wrong assumption that the LTWs were part of the WMI estate, it is just mind boggling to think this kind of s2*t goes on in this country day after day.
Sorry - I meant $ 888,000 (thousand) in additional legal fees to the $ 3.2 M - so in total $ 4.1 M in legal fees
It may very well be that in the future the Newco stock will be worth more but for now I am basing the recovery for the LTWs on the 8.77 % of the 25 % of the $ 190 M.
I agree with your estimation of - .05 + .037 = .087