Mr Cooper Group Inc (COOP)

[Bluzie2]

You are correct that the trusts are separate from WMB. My issue is who owns the right to any remainder or excess interest from the trust? I can't find a clear paper trail there, but some of the documents I've reviewed blurr the lines between the WAMU entities. For example, Long Beach is distinct from WMB, but I can't tell who owned Long Beach. But I have seen NO discussion of distributions from trusts in any bankruptcy document. Presumably, that's why the hedge funds wanted to cut the waterfall pre-shareholder, but I worry that something could happen that would cut off that flow of money.