WMI Liquidating Trust Announces Distribution WMI Liquidating Trust to Distribute Approximately $88 Million

SEATTLE, Oct. 31, 2012 /PRNewswire/ -- WMI Liquidating Trust (the "Liquidating Trust"), formed pursuant to the 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 it will make a distribution (the "Distribution"), as required under the Plan, of approximately $88 million to beneficiaries of the Liquidating Trust in a manner consistent with the Plan. 

In accordance with the priority of payments described in Exhibit H to the Plan, the Distribution will be allocated to claimants in "Tranche 2" and "Tranche 3" in the following amounts: $9 million to holders of Allowed Senior Notes Claims; $37 million to holders of Allowed Senior Subordinated Notes Claims; $3 million to holders of General Unsecured Claims; and $39 million to holders of CCB Guarantees Claims. After the Distribution, Senior Notes Claims and Senior Subordinated Notes Claims will have been paid entirely.

For purposes of the Plan, the Distribution Date will be November 1, 2012; however, due to factors including potential systemic disruptions attributable to Hurricane Sandy, actual payments on account of the Distribution will not be initiated until Monday, November 5, 2012.  Additionally, the Liquidating Trust is cognizant that finalizing the Distribution also could be subject to delay as a result of such disruptions.  More detail associated with this Distribution will be reflected in the next Quarterly Summary Report (the "QSR") to be filed by the Liquidating Trust with the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") for the period ending September 30, 2012 (which QSR expected to be filed on or about October 31, 2012).

The Distribution is possible primarily as a result of orders entered by the Bankruptcy Court disallowing certain claims, and thereby, permitting the release of a claim reserve of approximately $78 million that has been established in conjunction with various disputed claims, as well as approximately $10 million for amounts received on account of other activities, including the Liquidating Trust's interest in certain debt securities issued by WMI Holdings Corp. and remaining cash amounts held at subsidiaries.

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

SOURCE WMI Liquidating Trust



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