Mr Cooper Group Inc (COOP)

[hotmeat]

There is a theory where only Common Escrows, as the true owners of the original WMI estate as per pre-bankruptcy rights, benefits from the former WMI estate ie the Safe Harbor assets of WMI and Pref escrows only benefits from the Preferred Offerings that backed those securities.
I have two questions.......


1) If this is true, would Common and Pref holders who did not sign releases to elect to participate further be eligible to benefit from any returned Safe Harbor assets as they are bankruptcy remote and since releases were a bankruptcy process??? Using that theory's logic (kudos to goodietime).


2) In the POR (pgs 59-60 quoted below) it clearly states that "ALL DOCUMENTS" pertaining to Prefs and Commons are deemed cancelled relating to WMI, (the Debtor),...not the Trusts. How could this be reconciled with the above theory???




Quote: "Cancellation of Preferred/Common Equity Interests: Notwithstanding the provisions of Section 25.1 hereof, on the Effective Date, all Preferred/Common Equity Interests shall be deemed extinguished and the certificates and all other documents representing such Equity Interests shall be deemed cancelled and of no force and effect"