Mr Cooper Group Inc fka COOP

[Dmdmd2020]

Austin,

I understand your skepticism, but I’ll ask this question to you and everyone else:

Why did the Ex-employee Claimants fight so hard to keep their vested equity interest claims alive ? The November 19, 2018 filing states that the “surviving claims” included the vested equity interest claims.

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.”

________________________

IMO...my conclusions as of December 30, 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 equity interests because, according to POR7, those vested equity 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) IMO...my WAG is that the Stipulated Settlement will probably give the Ex-employee Claimants some WMI Escrow Equity Markers in exchange for settling all outstanding claims.