Mr Cooper Group Inc (COOP)

[ReikoBlack]

Pg. 20 -21 Read Footnote 12

http://www.globic.com/wamurmbssettlement/pdfs/Verified%20Petition%20and%20Exhs%201-29.pdf

"Pursuant to § 3.01 of the Settlement Agreement, the Trustee will be deemed to have an allowed general unsecured creditor claim in the WMB Receivership Estate in the amount of $3,006,929,660 (the “Trustee Allowed Claim”)12 and the FDIC-Receiver agrees to pay JPMC $645,000,000 from the WMB Receivership Estate (the “JPMC Payment”)."

Footnote 12 -
"Based on the WMB Receivership Estate’s most recent balance sheet, see, supra, ¶ 38, it is estimated that this allowed claims amount will yield approximately $695 million in eventual cash distributions to the Trustee for the benefit of the Trusts."

I think DB settled for $3B in an UNSECURED CLAIM against the WMI Bankruptcy Estate instead of getting the cash now.
Now why would the agree to that, unless they know the money is coming later, with interest!