Beitrag aus FB Gruppe Wmihsafe:
Quote CSNY: Kosturos is on the hook for the use of any funds owned by people who released. He is fiduciary for all escrow holders, and is charged with forbidding use of that money unless it benefits all owners equally because we, retail, cannot speak for ourselves.
The preferred (Ps, Ks, and TPS) ceased to be par securities upon confirmation. They're not capped and the old par values are only relevant for measuring one's recovery relative to the par on one's pre-confirmation holdings.
As for apportionment within each group of preferred, for every dollar that comes in:
TPS get 40%,
Ps get 30%,
Ks get 5%, and
Qs get 25%.
If $10B comes in the Ps get $3B of that but since some Ps didn't release each P gets about 5% more or $1,050 for each old P.
The only precedents for timing are the GSA and Tri-party settlement because both involved the FDIC. As I recall each took over one year and well under two years.
Quote from: Scott Fox on Yesterday at 08:00:46 PM
Thanks for the breakdowns and well said. So sad that many didn't take the time to release or thought it a waste of time to do so.
CSNY: It's more than sad; for many it will be tragic; there's just no going back
It could be before 11/1, which would be exactly 15 months since the CA probate litigation ended. Whenever it happens at least 10 months have already passed.
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