Mr Cooper Group Inc (COOP)

[ItsMyOption]

IMPORTANT INFO: WMI LT HAS JUST UPDATED AS OF 2/6/2019
WMI LIQUIDATING TRUST
FREQUENTLY ASKED QUESTIONS (“FAQS”)

I have not reviewed it but just got email from CS telling me it may answer some of our questions. I guess they got sick of all my daily emails asking for clarity.

http://www.kccllc.net/documents/8817600/8817600190206000000000001.pdf

update: just a quick read it looks to me they removed the 75-25% split language. keep reading

21. If value becomes available to distribution to members of Classes 19, 21 and/or 22, how will such value be allocated among those classes?
Value, if any, which may be distributed to members of Classes 19, 21 and/or 22 will be distributed in accordance with the relevant provisions of the Plan. Should value become available to Classes 19, 21 and/or 22, the Trust will provide more details regarding the distribution levels and mechanics, similar to what it has done for current and former LTI holders.


This is new:
the Trust has filed proofs of claim in the so-called
LIBOR litigations and may realize a recovery from those proceedings upon resolution thereof; however, there can be no assurances that the Trust will, in fact, realize any such recovery (or recoveries) on account of such litigation and, if so, the amount thereof. On the basis of the foregoing, at this time, the Trust has not recorded on its financial
statements any asset or value attributable to any such recovery. Additional information will be disclosed as and when it is available.

Matters relevant to “Washington Mutual Capital Trust 2001” (the “PIERs Trust”), the entity that issued the so-called PIERs securities, were litigated extensively in connection with the confirmation proceedings related to the Plan that was ultimately approved by the Bankruptcy Court. Since the Effective Date, claimants whose claims against the estate relate to such securities have received distributions from the estate in accordance with the
terms of the Plan (assuming that such claimant submitted required documentation and releases in order to be eligible for any such distribution). Apart from such distributions,
including distributions in the future (if any), the PIERs Trust does not represent a source of value for future distributions, if any.