Mr Cooper Group Inc fka COOP

[hotmeat]

The following excerpts from the Series R Prospectus clearly shows that Preferred were NEVER considered to be Bonds. They were always WMI Preferred Stock. In any event all these documents and provisions, including those for Commons, were made null and void when they were cancelled by the POR.



"Reorganization Events…..S-32

In the event of:

(a) any consolidation or merger of us with or into another person in each case pursuant to which our common stock will be converted into cash, securities or other property of us or another person;

(b) any sale, transfer, lease or conveyance to another person of all or substantially all of our property and assets, in each case pursuant to which our common stock will be converted into cash, securities or other property;

(c) any reclassification of the common stock into securities, including securities other than the common stock; or

(d) any statutory exchange of our securities with another person (other than in connection with a merger or acquisition),


each of which is referred to as a “reorganization event,” each share of the Series R Preferred Stock outstanding immediately prior to such reorganization event will, without the consent of the holders of the Series R Preferred Stock, become convertible into the kind of securities, cash and other property receivable in such reorganization event by a holder of the shares of our common stock that was not the counterparty to the reorganization event or an affiliate of such other party (such securities, cash and other property, the “exchange property”)"




Also re the REITS Preferred Stock.....

"If WMB is placed into receivership an “Exchange Event” will result in a Conditional Exchange of Trust Securities for Depositary Shares of WMI Preferred Stock. This WMI Preferred Stock represents an investment in WMI and not “the Company” or the Trust. The Trust Securities would be exchanged for a Preferred Equity Interest in WMI making it quite unlikely WMI would be able to make any dividend payments on the Preferred Stock. If WMI is liquidated, the claims of Creditors of WMI and all of its Subs, including WMB would have priority over Equity Interests such as the WMI Preferred Stock and therefore former holders of the Trust Securities who would then hold Depositary Shares representing WMI Preferred Stock may receive substantially less than such holders would receive had not the Trust Securities not been exchanged for Depositary Shares."