Mr Cooper Group Inc fka COOP

[clawmann]

LG: the fact that the LT is a pass through trust does not provide a backdoor for the LT to violate the specific terms of its authority. It may only "pass through" cash to holders of LTIs (which we escrow holders are not yet). I see no way whatsoever for the LT to either acquire or pass through WMIH shares. There is just no authority for that. If WMIH wants any non-cash assets of the LT, WMIH will have to make a cash bid for those assets.

I see no avenue for the LT to enter into a closed negotiated deal with WMIH unless the LT can justifiably assert that the deal with WMIH was at least as good as any deal it could have obtained elsewhere. And - in any - event, WMIH would have to pay in cash, not shares.

Come December, the RS will be well behind us. As will the reduction in authorized shares to 300 million. As will any lingering hope that some S4V transaction has happened that we have not been informed of. Maybe then people will start to understand that the theory they are wedded to needs to be abandoned.