Mr Cooper Group Inc fka COOP

[jerrylev]

The following article discusses the pitfalls of the debtor/creditor due to safe harbor assets in a bankruptcy. The contracts can be voided.

Safe Harbor is mainly for the protection from the creditors in a bankruptcy, and therefore the term "bankruptcy remote".

http://www.mondaq.com/unitedstates/x/252186/Insolvency+Bankruptcy/Using+the+Bankruptcy+Code+Safe+Harbors

All the discussion about SH is for the principle of it only. Nobody has shown any evidence of how much assets from WAMU were in SH. It is implied only that there are some based on the discussions that the old WAMU had with the FDIC and the FDIC changed the rules one year after the WAMU BK to make it harder for banks to put assets in SH.