Mr Cooper Group Inc (COOP)

[hotmeat]

You keep conflating WMI and WMB, both are separate and not interchangeable. WMI needs to settle with bankruptcy Creditors and Equity, NOT WMB Bondholders, they are an FDIC debt.

As I said, the problem of WMI being paid before WMB Bonds is an "optics" issue, not a legal one since WMI owes them nothing, those Bonds are not part of WMI's bankruptcy estate or otherwise!!!

They were included in the POR because if they weren't they could have IMO obstructed the progress of the POR settlement by continuous legal challenges to the process.

Any assets owned by WMI are most likely being held by the FDIC so obviously they would be hesitant to release assets that would be used to pay equity while leaving debt "senior" to equity unpaid.

Receiverships are NEVER easily or timely resolved, so whatever the reason for the delay, it's because they seek to obtain the most equitable outcome for all the remaining parties.

If we are to be paid solely from the FDIC, then yes, we will have to wait until all senior debt is paid in full before we see a cent but if our payment is via the LT, then WMB Bonds are not our issue, legally.



AIMHO