Mr Cooper Group Inc fka COOP

[bkshadow]

LG, "All Debt is Capped"

For some indecipherable reason you do not get that PIERS is debt. All debt is capped, sometimes with interest accruing. The PIERS was determined to be debt. Period.

Is it guaranteed, in a BK, no. It depends on the assets and claims resolution.

So PIERS is DEBT, DEBT is capped.

DEBT is not guaranteed.

However, as you really are struggling with this, DEBT gets settled before lower classes. Now, don't start with the little PIERS payments; de minimis. Don't go to the WMIH equity shares; Plan Settlement by all classes, include DEBT classes.

Now to your escrows (beloved), September 2014 is approaching. No hedging.

You've said Susman/Willingham have had an unannounced deal since mediation. Then again, you've said the Employee Claims depositions were Susman/Willingham's plan unfolding.

WHATEVER.

If assets < claims paid, PIERS will get less than full payment.

If assets = claims paid, PIERS will be paid in full.

If asses > claims paid, PIERS will be paid in full, then on to the lower classes.

IMO, pennies. IYO, tens to hundreds of billions.

Tic Toc?