Washington Mutual (WAMUQ)

Back to WAMUQ
WMI Liquidating Trust Announces Additional Information for Liquidating Trust Interest Beneficiaries and for Class 17A Claimants

SEATTLE, April 3, 2012 /PRNewswire/ -- The WMI Liquidating Trust (the "Liquidating Trust"), which was formed pursuant to the recently confirmed Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code (as modified, the "Plan") of Washington Mutual, Inc. ("WMI"), today announced that on or about April 16, 2012, it will begin issuing summary statements to holders of Liquidating Trust Interests who returned a Form W-8 or Form W-9 in connection with the solicitation of acceptances on and elections pursuant to the Plan. As previously announced, the Plan became effective on March 19, 2012.

The summary statements to be issued on or about April 16, 2012, will provide a summary of the value of a particular holder's Allowed Claim (as defined in the Plan) as of the Effective Date, distributions made with respect to such claim, and the balance of Liquidating Trust Interests held by that holder after giving effect to such distributions made on March 23, 2012. An initial valuation of the Liquidating Trust Interests also will be included in these statements, for tax reporting purposes. At the end of each calendar quarter, subsequent statements reflecting updated information will be mailed to holders of Liquidating Trust Interests.

The Liquidating Trust also announced today that on March 23, 2012, consistent with the Plan, a onetime disbursement of $326.8 million (or $335 million less a "holdback" in respect of the payment of certain professional fees as contemplated by the Plan) was made to members of Class 17A (as described in the Plan) across holders of approximately $6.1 billion of claims (after giving effect to adjustments for applicable exchange rates for foreign currency, if any) and that no additional distributions of cash or Liquidating Trust Interests will be issued to members of Class 17A. The chart below summarizes the cash distribution rates for Class 17A by security and CUSIP.

        Security  Target CUSIP /       Cash Distribution Rate     Cash Distribution Rate
                       ISIN            (in issuance currency)            (in $USD)
                                     per 1,000 of Principal in   per 1,000 of Principal in
                                  Currency of Respective Issuance  Currency of Respective
                                                                        Issuance (1)
    ---                           ------------------------------- -----------------------
           WMB
          Senior
           Note     93933VAY4                          $53.938837                 $53.938837
           Due
           Feb.
           2011
           ----
           WMB
          Senior
           Note     93933VAZ1                          $53.943818                 $53.943818
           Due
           May
           2009
           ----
           WMB
          Senior
           Note     93933VBD9                          $54.492488                 $54.492488
           Due
           June
           2010
           ----
           WMB
          Senior
           Note     93933VBE7                          $53.746629                 $53.746629
           Due
           June
           2010
           ----
           WMB
          Senior
           Note     93933VBF4                          $53.922068                 $53.922068
           Due
           Nov.
           2009
           ----
           WMB
          Senior
           Note  XS0266770840 (2)          euro 53.811432                         $78.543167
           Due
          Sept.
           2011
          -----
           WMB
          Senior
           Note  XS0284968426 (2)    54.165377 pounds Sterling                    $99.664294
           Due
           Feb.
           2012
           ----

Further information about WMI Liquidating Trust can be found at www.wmitrust.com.

(1) Payments were made in U.S. dollars at the mid-day spot rate on the petition date, September 26, 2008. Specifically, the exchange rates used were $1.4596 per Euro and $1.8400 per GBP.

(2) ISINs held through Euroclear and Clearstream in non-U.S. foreign currency denominations.

SOURCE WMI Liquidating Trust

Copyright (2014) PR Newswire. All Rights Reserved.
Back to WAMUQ
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki