Mr Cooper Group Inc (COOP)

[WithCatz]

A couple of possibilities have been bantered around (in another neck of my woods)

1) TPS is going to trial with "what they have in hand" and doesn't want anybody else to go "wait, here's a document that justifies our position -- sorry, we forgot to give it to you"

2) TPS will be bought-out by JPM - outside of BK, and this is an early part of that process. I won't get into all the nuance, but it is within JPM's (or anyone's) purvue to buy out TPS -- there is no reason that they have to make any similar offer to anyone else. That whole class thing is irrelevant if the Debtors aren't involved in funding the buyout. Effectively they (JPM) would "take over" the place of TPS -- and, of course, they won't sue themselves, etc. And no BK court approval is required for this at all.

I wouldn't be surprised by #2 at all. JPM wants to keep the $13b or so in securities, and paying $4b to buy out TPS helps solidify their hold on the remainder.

...Catz