Mr Cooper Group Inc (COOP)

[hotmeat]

The Safe Harbor assets were formerly owned by WMI and now it's legal "successor in interest", the WMILT. There is no longer a WMI, a Debtor or Debtor in possession as of the ED. How could SH assets be transferred within the WMI bankruptcy...aren't they supposed to be BK remote?
QUOTE: "Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them."
Pretty much says it all!

What is Tranche 6 comprised of again??? Common and Preferred Equity Interests??? Not the same as pre 2008 Common and Pref stock since these were CANCELLED.
QUOTE: "23.1 Treatment of Preferred Equity Interests: Commencing on the Effective Date, and subject to the execution and delivery of a release in accordance with the provisions of Section 41.6 of the Plan, each holder of a Preferred Equity Interest, including, without limitation, each holder of a REIT Series"
QUOTE: "25.1 Treatment of Common Equity Interests: Commencing on the Effective Date, and subject to the execution and delivery of a release in accordance with the provisions of Section 41.6 of the Plan, each holder of Common Equity Interests".......POR pgs 58-60

APR was violated, Commons received a distribution before Prefs received face value. What part of that do you not understand. APR means before Commons see one cent the Creditor and Pref debt must be paid in full. That did not happen.

The FDIC does not hold Receivership cash so if any remains after claims are paid that goes to Equity as stated on their website. Nobody said you held shares in WMB, that is irrelevant, we still get paid once cash is available.
QUOTE: "The Receiver anticipates that it will make a final distribution at a later date. It is unlikely that the Receiver will have sufficient funds to distribute to holders of receivership certificates issued to WAMU subordinate note holders or equity holders.


NOTE: You keep referring to BK rule 1015(b) and obviously don't know what it refers to. It deals with joint administration of the bankruptcy estates of WMI and WMIIC. The Debtors stated why the jointly filed both together and it had nothing to do with what you suggest. It was done for administrative reasons, duplicating filings and to save on costs. This was clearly laid out in the original BK filing.