Mr Cooper Group Inc (COOP)

[boarddork]

Exactly, this was Chapter 11, not Chapter 7. It was a re-organization, not a liquidation of everything WMI. Therefore, as Chapter 11 re-org, it is designed and legal for there to be 'something' leftover.

Creditors and claimants specific only to the WMI Chapter 11 don't get anything, other than what's specifically listed as up for grabs in Chapter 11. As listed in the LT QSR. The debtor just has to put up just enough of their total assets to satisfy debts - not everything like in a Chapter 7.

The WMI Chapter 11 fight, was just over a partial pile of stuff as listed throughout the Bankruptcy. Everything else resides outside the court. I dont know why its so hard for many to understand the difference between Chapter 11, and Chapter 7. Understand the 2 distinct bankruptcy structures, and it all falls into place.

As a business owner, I know I can declare Chapter 11, and not list all my assets. I only have to list enough to settle the claims necessary for me to re-organize with a judge's approval.

WMI did the same thing but on a macro level.

What's really cruel genius, is the 10 year, 24/7, Wag-the-dog message board marketing to keep retail barking down the wrong trail.

People are ....still.....fighting over table scraps, when there is a huge burger sitting off to the side with our name on it.