Mr Cooper Group Inc (COOP)

[WSPCR]

“The cash amounts actually received and paid could be materially different than the reported balances”
Forgive me for not understanding the complexity of this case but could it be that “what is out there” (safe harbor?) is hidden in plain sight? based on this following “rule” regarding GAAP
Under the AICPA's Code of Professional Ethics under Rule 203 – Accounting Principles, a member must depart from GAAP if following it would lead to a material misstatement on the financial statements, or otherwise be misleading. In the departure, the member must disclose, if practical, the reasons why compliance with the accounting principle would result in a misleading financial statement. Under Rule 203-1-Departures from Established Accounting Principles, the departures are rare, and usually take place when there is new legislation, the evolution of new forms of business transactions, an unusual degree of materiality, or the existence of conflicting industry practices.

on the ‘WMI liquidating trust” web page it says regarding; “Key elements of liquidation basis accounting as set forth in ASC 205-30” include:

• Instead of a balance sheet and income statement, the Trust provides a Statement of Net Assets in Liquidation and Statement of Changes in Net Assets in Liquidation. The Statement of Net Assets should report assets and liabilities at the amount of cash expected to be received or paid in liquidation. Such a report is inherently uncertain, as it is based on estimates and assumptions. The cash amounts actually received and paid could be materially different than the reported balances. Required departures from GAAP