Mr Cooper Group Inc (COOP)

[hotmeat]

If $130B comes back to Commons that would net them about $108/share not $32 (approx. 1.2B shares were released).

The point is, at the time of the negotiations, it could not be proven that there were sufficient assets to reach Common equity.

According to APR, the Preferred equity had to be fully satisfied before Commons saw one cent.

This rule was nullified with the 75/25 agreement that was reached to allow all equity to benefit.

Fast forward 5+ years later, it seems some, through their own personal rewriting of the facts want to change this precedent.