Mr Cooper Group Inc (COOP)

[mordicai]

There were two set aside pools of wmih shares. One was to pay creditors from the common equity interests . The other pool was to pay creditors from the preferred equity interests. Any shares in the preferred pool not used to pay the creditors and left over were then to be redistributed to the other p holders. Likewise, any shares in the common pool not used to pay the creditors and left over were to be redistributed to the other common holders. So the p's were shortchanged the 1.4 million shares and need to be made whole. Alice is first and foremost arguing that the underwriters were entitled to nothing and that the 1.4 million shares should be returned to the p holders. The money can either come from monies from the underwriters, monies earmarked from Class 18, insurance proceeds from the LT's errors and omissions insurance policy, or the shares left in the disputed equity account currently earmarked for commons.