Mr Cooper Group Inc (COOP)

[JusticeWillWin]

WMCT 2001 is none of the 33 non-banking subs. You cannot compare WMCT2001 to any of the other 33 non-banking WMI subs, especially WMIIC.

WMCT2001 is something special, the exception. It is NO WMI entity as you mentioned below! It is an independent trust, which continued to exist/function, and which shall be dissolved by the Reorganized WMI (=COOP) (see my previous posts) IMO

Also from the Disclosure Statement:

http://www.kccllc.net/wamu/document/0812229111212000000000005

Page 53:

WMB’s banking operations and its subsidiaries (including FSB) were seized by the FDIC Receiver and then acquired by JPMC on September 25, 2008 pursuant to the Purchase and Assumption Agreement. The organizational chart below reflects WMI and the 33 Non-Banking Subsidiaries as of the Petition Date, September 26, 2008. It should be noted that the Washington Mutual Capital Trust 2001 is a trust related to the PIERS Units (defined below), further described in Section IV.B.5 of this Disclosure Statement, and is not considered one of the 33 Non-Banking Subsidiaries.

Your post:

This appears to be the same situation as with WMIIC where the much referenced asset-less shell in which WMIH owned 100% equity was dissolved.

I don't see how any WMCT 2001 assets would be transferred to WMIH when ALL of WMIIC's assets were also transferred to the WMILT on the ED and the empty shell to went to WMIH.


None of the assets of entities assumed by WMIH were transferred to WMIH except for the remnants of WMMRC's run-off portfolio, the vast majority of which belonged to the WMILT.



EDIT: Note all the transferred entities are shell companies with no assets. The assets of WMIIC and the run-off portfolio went to the WMILT and WMB's assets to JPM and the FDIC.


"1.192 Reorganized WMI: WMI, on and after the Effective Date, which shall include One Hundred Percent (100%) of the equity interests of WMI Investment, WMMRC and, subject to the abandonment of the equity interests of WMB, WMB."