Mr Cooper Group Inc (COOP)

[Dmdmd2020]

I want to add to this list of facts:

6) Per document #12563 filed on November 19, 2018:


http://www.kccllc.net/wamu/document/0812229181119000000000001

“CERTIFICATION OF COUNSEL REGARDING CONTESTED ORDER (A) (I) DEEMING CERTAIN CLAIMANTS’ CLAIMS DISALLOWED, (II) AUTHORIZING THE DISTRIBUTION OF CERTAIN FUNDS IN THE DISPUTED CLAIMS RESERVE, AND (III) DISMISSING CERTAIN OF THE WMI LIQUIDATING TRUST’S ADVERSARY PROCEEDINGS AND (B) DENYING MOTION OF CERTAIN EMPLOYEE CLAIMANTS FOR ORDER DETERMINING APPLICABLE LAW NECESSARY
TO IMPLEMENT DEBTORS’ CHAPTER 11 PLAN“

This was a proposed order by Rosen to adjust the DCR and distribute to remaining creditors due to a bench order by Judge Walrath on October 16, 2018 to disallow the “golden parachute” claims and leave the “surviving claims” to further litigate in bankruptcy court.

PDF page 11 of 13:

“iv. Any Claims of the Claimants as holders of vested equity interests which, pursuant to the Plan, are entitled to receive a distribution.”

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Facts:

7) Ex-Employee Claimants missed their deadline for further submissions to further litigate the “surviving claims” (December 18, 2018)

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IMO...my conclusions as of December 28, 2018:


1) The “surviving claims” included the :

“iv. Any Claims of the Claimants as holders of vested equity interests which, pursuant to the Plan, are entitled to receive a distribution.”

Which implies that the Claimants were still going to fight hard to keep their vested interests because, according to POR7, those vested interests are deemed to receive a distribution if there are any recoveries to WMI Escrow Marker Holders.

Who better to know the exact recoveries of WMI Escrow Marker Holders than the actual top executives (Ex-employee Claimants).

2) Currently, it is exactly 10 days since the missed deadline (December 18, 2018). This would imply that a stipulated settlement is being negotiated. Once disclosed publicly, the Stipulated Settlement will be final once Judge Walrath signs it. After it is signed, the bankruptcy cases will be closed.

3) After the Bankruptcy cases are closed, the FDIC can settle with the WMILT/Class 17 which will allow the receivership to close. “Change In Control “ will occur, and JPMC will pay for the WaMu portfolio loans ($231 billion).

4) Closure of the receivership will allow the FDIC to unfreeze the WMI non-banking assets (i.e. real estate, mineral rights, beneficial interests in MBS Trusts created by WMI subsidiaries, CDS contract payments, etc.)