Mr Cooper Group Inc (COOP)

[CBA09]

Ref: Therefore, the FDIC must make "the Final Payment" to WMI/WMILT on or before December 12th MAX for "WMB and it's assets", or WMI/WMILT will file litigation to re-open the Case due to the Six Year Litigation Rule. GSA/DS agreement date is Dec 12th.


Comment: There is a six year rule that applies to recovery of a claim. WMI/WMILT most likely will file to seek recovery for those assets not belonging to WMB and in error transferred to JPM. Also, this rule applies to the FDIC.

As far as the FDIC must make "the Final Payment" on or before 12th December I do not believe so. Here is why - FDIC is not limited by time constants in winding down the affairs of a failed institution. Resolution, has all to do about any existing claims or ongoing litigation.

FDIC has immense powers.
The court cannot and will not interfere with the FDIC in it's capacity of closing out / termination procedures.

FDIC is on the hook and liable for the "NON WMB assets transferred to JPM. The monetary damages must be resolved and this I believe has a lot to do with the extension.