Replies to post #7064 on Dime Bancorp Inc (fka DIMEQ)

[marty009]

Phillip,
I think their designation means little. You don't take a tax loss till you sell,IMHO. My brokerage gave it zero value a few months ago...which they based on no trades for three months. This gives one the opportunity to transfer assets into a Roth IRA from a regular IRA....which I did.

[ItsMyOption]

philip, I notice Etrade also removed my shares.We may need to have get written answer from trustee you can request email = [e-mail]


The Plan states that if you do not send in an Election Ballot you will receive a Notice every 3-6-9 months after the Effective Date up to 1 year to opt in and provide releases. The reserve though is for Creditors Cash and Liquidating Trust Interest only.


" (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. "

ILS

[marty009]

Phillip,

You are correct in the worthless designation. I had viewed them in my acct only a week or so ago. I just checked again and they were removed 8/21. The designation by broker seems to ALLOW you to take the tax loss this year. However, I still think you can hold off taking the loss till final court decisions. I am not giving up hope on our rights...wts or not....till the fat lady sings!