Mr Cooper Group Inc (COOP)

[Mr_Simpson72]

LIBOR UPDATE

** LIBOR not expected to finish until 12-31-2024 !!!

Thanks to Porkchopranch for exchange with George at FDIC

On Tuesday, April 30, 2019, 1:35:34 PM CDT, Fritz, George R. <[e-mail]> wrote:

Based on some information I just reviewed it appears the FDIC as Receiver filed lawsuits against 34 defendants. I don’t have the amount on how much is being requested. I’ll still see what I can find out on the amount. The anticipated end of the litigation could not be until 12/31/2024.

Any recovery would go to the WAMU Receivership estate less the administrative expenses relating to administering the litigation. The net recovery would go to the approved creditors of the receivership based on their priority.

Thanks,

George

My follow up:

Thanks George. What percentage of any recovery would WAMU receive? For instance, if WAMU was due 90% and $10bb came in on settlements, WAMU would receive $9bb.

Lawsuit regarding LIBOR & FDIC:

https://web.stanford.edu/group/lawlibrary/cgi-bin/liborlitigation/wp-content/uploads/2014/03/SDNY-14-1757-LIBOR-related-COMPLAINT-vs-16-banks.pdf

PRAYER FOR RELIEF

WHEREFORE, FDIC as Receiver for the Closed Banks requests the Court to:

a. Enter judgment for the FDIC-R awarding full damages for all
economic, monetary, actual, consequential, and compensatory
damages that the Closed Banks suffered as a result of Defendants’
wrongful and/or inequitable conduct.

b. Award punitive damages to the extent allowable by law.

c. Award treble damages for violations of the Sherman Act and/or
Donnelly Act.

d. Award attorneys’ fees and costs of suit.

e. Award pre- and post-judgment interest to the extent allowable by law.

f. Grant such other further relief as allowed by law.