Mr Cooper Group Inc fka COOP

[jerrylev]

What you quote says it all.

The reason people are so confused is because they do not understand the meaning or purpose of the terms bankruptcy remote or safe harbor. They believe that such assets are outside the jurisdiction of the bankruptcy court and therefore not subject to the terms of the POR. But they had better think about that position long and hard. Because if those assets are not subject to the POR, there is no reason on God's Green Earth for those assets to find their way to escrow holders. None.


Safe Harbor and bankruptcy remote are for protection of the creditors to take, but in our case, all creditors including PIERS were paid and so this is moot.

But then everything will be under the jurisdiction of the bankruptcy court that will decide how to disposition the assets to distribute to the owners of the Estate. In our case, liquidate everything and return the proceeds to those who signed release.