Mr Cooper Group Inc (COOP)

[mordicai]

The holding company lawyers seem to indicate in their briefs that the subsidiary savings bank was wholly owned by the seized bank. JPM got the assets of the seized bank, which included 100% of the shares of the subsidiary savings bank. According to the holding company JPM then merged the subsidiary bank into JPM but the date is not known. (This perplexes me because in order to merge into JPM, corporate documents had to be filed in the state of incorporation of the savings bank, and in the state of incorporation of JPM ..which are matters of public record). Merger papers. Why couldn't the holding company lawyers get this information? Is this one of the smoking guns? Done too fast indicating a prearranged deal with the fdic? In any event, it appears the savings bank was worth billions. So whether it was owned or not by the holding company, the holding company is still entitled to damages in the amount of the fair liquidated value of the savings bank. If owned by the seized bank, the bank bondholders get paid with remainder to the holding company. The argument about the savings bank not being in receivership is important, because the fdic has only statutory authority under paragraph 9.5 of the P and A over deposits sold through the receivership. 85% of the money in the summary judgment was in the name of the holding company at the savings bank...so the fdic has no power over it. Those deposits were outside the receivership. Neither does JPM. That is why I laugh at those who are selling me their shares at .121. With the deposit and the tax refunds, commons are in the money !!!. Everything else is gravy. GLTA.