Mr Cooper Group Inc fka COOP

[hotmeat]

QUOTE..."WaMu examiner deals blow to shareholders

Washington Mutual Inc.’s settlement with JPMorgan Chase and federal regulators is reasonable because it will end their court battles over the largest failure of a U.S. bank, a court-appointed examiner found.

Lawyer Joshua Hochberg said fighting JPMorgan and the Federal Deposit Insurance Corp. in court would put at risk billions of dollars in tax refunds and other assets that could be used to pay creditors.

Continuing to fight, as shareholders have urged, would be “gambling with currently guaranteed recoveries,” Hochberg wrote in a report made public Monday in U.S. Bankruptcy Court in Wilmington, Del. “The ultimate resolution of many of the claims could take years.”

Seattle-based Washington Mutual Inc. has designed a reorganization plan around the settlement, which would bring $7 billion to creditors. Shareholders would be paid nothing."



Comment: Could it be that she wants an explanation for his initial assessment based on the new realities of the case..........