Mr Cooper Group Inc (COOP)

[wamugold]

Very rational statement but what does that has to do with the many WAMU trusts in safe harbor....

Quote"You assume that their inclusion in Class 18 would have been easy. It wasn't. The LT was challenging their entire claim. Therefore, the UW's must have believed that if they were to go after Class 18, they would have had a good chance of losing everything. That is why they did not fight to stay in 18.

Instead they settled for a Class 19 claim for $72m (3X the original value of their claim). The LT and the UWs agreed to triple the amount of the claim because the chances of getting anything in Class 19 are small. Even with a $72m claim in class 19, they will be lucky - very lucky - if they get even $1 million back.

Why did the LT agree to such a settlement? Because it avoided the expense of litigation and gave the UWs a claim that has a realistic prospect of only a minimal pay-out."