Mr Cooper Group Inc (COOP)

[bkshadow]

shiftyshoes, look at their PIERS purchases...

...per the court hearing transcripts.

...it will give an idea that makes it appear they cleared in profit almost all of what they, as debt holders, got in the $6B+ in debt/creditor claims paid (plus interest at FJR on the seniors).

Nate Thoma

So, you can see, under the PIERS junior subordinated
2 debt, there's the initial purchase price and the initial
3 purchase date and the final purchase price and the final
4 purchase date for all these entities for the PIERS notes. And
5 the earliest of these was Appaloosa. They purchased their
6 first tranche of the PIERS securities on September 29th as low
7 as four-hundredths of a cent on the dollar. And I want to
8 stress that. Not four cents on the dollars. Four one one-
9 hundredths of a cent. Owl Creek and Centerbridge didn't first
10 purchase PIERS units until over a month late in November of
11 2008 at roughly two cents on the dollar. Aurelius didn't
12 purchase the PIERS units until January of 2009 at appropriately
13 three and a half cents on the dollar.

I'm sure there are those that think the PIERS debt was a bad investment; the profits on these appear to me to quite an impressive ROI (even after the FJR PPS hit).

$10.56/$0.0004 = 26,400%

$10.56/$0.02 = 528%

$10.56/$0.035 = 301%

...the 2019's disclosed similar %'s on the senior and subordinated WMI debt investments they made.