Mr Cooper Group Inc (COOP)

[LuckyPanda]

Why was WMIH allowed to trade if $ 6 bil NOLs were its main assets? If they were the main assets the BOD would not have taken the risk of losing them by allowing the shares to trade until after merger. There would ne no gurantee of 50% ownership change with the trading and hence losing the NOLs.

Here are my top two speculations..

1) BOD got to gift themselves millions of shares since 2012...for their "services" for attempting to "find" a good merger. These shares will get a huge upside freeride with the 3.5 billion shares for value exchange with safe harbor assets.

2) No need to worry about losing $6bil NOLs with trading of 200 million shares, when 3.5 billion shares will be going back to the original owners of the estate - no threat of 50% ownership change