I received a notice in August 2008 about the Settlement Agreement that stated that I would be paid in cash. Why did I receive a Receivership Certificate and not cash?
The failure of WMB, and the appointment of the Receiver, caused fundamental changes to the manner in which all claims against WMB will be treated. Under federal law, the distribution of the assets of WMB to valid claimants must be done according to certain priorities. To ensure that each claimant in a given priority receives an equal share of the WMB Receivership estate, federal law provides that claimants are to be paid through dividends to the extent there are available Receivership assets.
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