Mr Cooper Group Inc (COOP)

[WithCatz]

voodoo, My opinion goes based on THJMW. She's a stickler for normal process in Bankruptcy, and of course, that means the Absolute Priority rules.

where does it say the p's have to be paid in full before any goes to common ...ever hear of global settlement ,ever hear of rule 9019

While, of course, anything is possible under the world of the judge, even with rule 9019, I anticipate - my opinion - that she would stick to the Absolute Priority rule.

9019 is more about "settling controversies" -- and with Preferreds being paid under Absolute Priority rules, there would be little controversy with that, under this judge.

I know that doesn't make common holder happy, and they can shoot me. But it is my opinion on reading rule 9019.

Also, what I have NOT seen is anyone bring forth an example of where THJMW has ruled not to pay preferreds in full before commons. And I believe that is also key.

...Catz

P.S. Disclosure: I hold all equity issues, as well as H's.

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