Mr Cooper Group Inc (COOP)

[CBA09]

Ref: I actually thought about this very point and had previously been of the opinion that abandonment meant WMI relinquished their full rights of control over WMB. It never occurred to me that this was a move that was legally permissible, if it was done under the umbrella of the bankruptcy.

Comment:

Yes, a clever filing. By fully disclosing as worthless stock at the time of bankruptcy filing it gives WMI full and complete ownership of any future value return. Further is satisfies "Any & ALL" future value returned as assets removed from the bankruptcy estate. Thus future value being bankruptcy remote!!