Mr Cooper Group Inc (COOP)

[ItsMyOption]

Email response from FDIC:

Mr. $$$$$$$$:

"I received the following response from our attorneys. The FDIC as receiver for Washington Mutual Bank is not in control of the litigation in which Deutsche Bank as Trustee seeks court approval of its contingent settlement with JPMC and the receiver. The Settlement Agreement dated August 19, 2016, sets June 30, 2019, as the deadline date for successful satisfaction of the court approval contingency. Successful removal of that court approval contingency is the linchpin for a partial dividend distribution on allowed receivership claims."


Note: As stated in this email response "The FDIC as receiver for Washington Mutual Bank is not in control of the litigation in which Deutsche Bank as Trustee seeks court approval of its contingent settlement with JPMC and the receiver.

It looks like this June 16th court date is mainly to clear issues between the Trustee and JPMC, Also note: "Successful removal of that court approval contingency is the linchpin for a partial dividend distribution on allowed receivership claims"."

So IMO this court hearing clears up issues between FDIC,DB & JPMC. It does not address assets held off book or safe harbor by the receiver. I think any $$$$$ held in safe harbor will get addressed separate from this hearing. BUT it opens the door for partial dividend distribution.