Mr Cooper Group Inc (COOP)

[Civil War General]

I suppose you understand exactly how bankruptcy remote assets actually work, right?
Suppose someone is a trust fund baby, they get money from a spendthrift trust that is not under their control. They owe someone money, like a credit card company, but don’t want to pay. The credit card company cannot attach the trust, even in bankruptcy because the asset, even if it is a billion dollars, does not belong to him. He is only a beneficiary of the trust and the money must be “in his hands” before it becomes available for a creditor to attach their lien to it.

This bankruptcy is no different.
Remote independent trusts that were set up for exactly this purpose are one of the main functions of a Bank Holding Company.