Mr Cooper Group Inc fka COOP

[jerrylev]

Re: The math is a bit fuzzy here,..75% goes to Prefs until they are paid in full and 25% to Commons until Prefs paid in full, with rest to Commons??? So if Prefs are not made whole, Commons get nothing???


If we follow the absolute priority rule then ONE HUNDRED PERCENT (100%) goes to Preferred until they are paid in full and then commons take the rest until the end.

But we follow 75/25 rule which contradicts with the above.

It can only be one or the other but not both.

For LTI, here this PR said that the escrow CUSIPs are mainly used for distributing disputed shares in the amount of 15M shares. But it is not for distributing the assets owned by the Estate. The Trust must maintain its own record and does not depend on the brokerage house.

https://www.prnewswire.com/news-releases/wmi-liquidating-trust-issues-statement-on-escrow-cusips-300425225.html