Mr Cooper Group Inc (COOP)

[Large Green]

Here is CBA09 response to the 75/25 issue.


Ref: 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).

Comment:

The answer is what you provided in # 2) below:

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???

Furthermore-
The court approved the negotiated 75/25 %. As for Non-release stakeholders, they have no standing, they do not exist.

Only released share holders, while being the last paid, will reap the greatest treasure - Safe Harbor Sssets. Some ripe and some still generating revenue. It's "abundantly" clear they are still there!