Mr Cooper Group Inc (COOP)

[hotmeat]

Connect the dots......




CBA09: Post 498722 (12/05/17)- "Yes these SPE's/Trust are the "Crown Jewel" of WMI in it's capacity of being the Parent. Also Facts of great importance:

2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI."



Mordicai: Post 525774 (07/10/18)- "Abandonment under Code § 554 removes property from the bankruptcy estate and returns the property to the debtor as though no bankruptcy occurred. Since "an order of abandonment acts only as an abandonment of the estate's interest in the property and not as an abandonment of the debtor's interest," the debtor' s title to the abandoned property after abandonment is effective, nunc pr o tunc, as of the date of the filing of the petition. Title, therefore, was deemed to revest in the debtor upon abandonment.

In contrast, under the Code, an estate composed of all of the debtor's interest in property is created upon the filing of the petition or the entry of an order for relief pursuant to Code § 541(a). The trustee has control of the property, not title to the property, and Code § 554 simply divests the trustee of that control. The abandonment process was intended under the Code to simplify case administration by restoring the debtor's prepetition interest in the abandoned property. The only determination made by the trustee and the court in the § 554 abandonment process is that the property is (1) burdensome to the estate, or (2) of inconsequential value. In making this determination, the trustee is guided by the best interests of the estate, not necessarily the interests of the debtor and creditors."