WMI Liquidating Trust to begin $78 million cash distribution Friday

By Caroline Salls

Pittsburgh, July 30 – WMI Liquidating Trust will begin a $78 million cash distribution to some trust beneficiaries on Aug. 1, according to a news release.

In accordance with the priority of payments included in Washington Mutual, Inc.’s Chapter 11 plan, $16 million of the distribution will go to holders of senior floating-rate note claims, $60 million to holders of Piers claims and $2 million to holders of general unsecured claims.

Washington Mutual, a Seattle-based savings and loan holding company, emerged from bankruptcy on March 19, 2012.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.