Mr Cooper Group Inc (COOP)

[jerrylev]

Dmd, I am not sure what you are trying to get to.

Assuming that your assertion about Tepper move is accurate, he simply adjusted his investment strategies based on the court decision. In POR 6, the hedge funds owned the Estate and the reorganized company WMIH could very hold WMI assets, we don't know because POR 6 was never approved.

But in POR 7, it was decided that ALL assets, WMI or Safe Harbor or securitized, will be liquidated and the proceed will be returned to those who signed release. The reorganized company WMIH, has just the NOL and WMRRC and nothing else.

I don't know what is Tepper ownership. with regard to old preferred and old commons, but he signed release and stand to make a good chunk of money from the Estate. Shareholders ownership of the Estate just depends on what they owned in 2012 and signed release. It's not because we won the IT case that all shareholders profit from the Estate. If they bought very little and the wrong stock or never sign release then they stand to make peanut while the HF still eat most of the Estate.

There is no such thing as bankruptcy remote. Anything belonging to WMB, if they are not securitized, belong to JPM or the bondholders, who care. But everything on the WMI side will be under the jurisdiction of the bankruptcy court and owned by WMILT who will liquidate and return the proceed to those who signed release.

Once the money is distributed then WMILT will shut down and that's the end.