Mr Cooper Group Inc (COOP)

[Kristallweizen]

Gifting By Debtors Is Not Valid

from Y!
Did not want this to get lost in the clutter.
History - bbob mentioned gifting by debtors is not valid. *Catz asked for more info. Nobody could locate the original thread.
However, I have the highest regard for bbob, so I took the time (what a pain!) and here it is, compliments of steve_ogrady, bbob, d0llhairs, the longs and everyone else.
Did I forget the "little people"?

Seriously:


bbob, you're vindicated!
Not that I EVER question your word.

In "Armstron Case: Gifting By Debtors Is Not Valid 18-May-10 11:15am

Steve O'Grady (thanks, Steve!) said:

This case ruled against gifting by the debtors to the FDIC.
The final ruling is at the end of the article.
This is exactly the same type of BS that Weil and the debtors are trying to do!
Topic at http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_(A_to_Z)/Stocks_W/threadview?bn=86316&tid=460056&mid=460200


Article:
Gift Rapped: Ruling Reaffirms Absolute Priority Rule
by Wendell H. Adair, Jr., Sayan Bhattacharyya, Douglas H. Mannal
May 1, 2005
at https://www.turnaround.org/Publications/Articles.aspx?objectID=4477