Replies to post #42353 on Washington Mutual Preferred fka WAMPQ

[DPincus]

Voodoo, I'm confused too. Judge stated on day 2 (it's in the transcript) that she was confirming the POR. Then you asked for her signed order as proof, and then you say that even if/when she signs the order, it doesn't matter, it doesn't satisfy you. What is it you are looking for to validate that this process is over and done with in BK court?

Dion

[clawmann]

RS: I keep thinking about the two trusts. As I understand it, the proceeds of those (if any), will be paid to persons who hold newco common on Day 1 (even if they sell later).

There may be significant additional value coming to Day 1 holders via those two trusts. Not exactly hidden assets, but under-appreciated I think.

There is $25mil for litigation, which would fund quite a substantial litigation effort. People should not confuse the legal fee burn rate of this case (multiple parties and multiple lawyers) with the much lower burn rate that will be associated with one law firm representing one client.