Mr Cooper Group Inc (COOP)

[bkshadow]

hotmeat, agreed with minor commentary...

...comments in RED.

hotmeat Friday, 07/10/20 04:09:28 PM
Re: ckaufman2160 post# 628557 Post #628572 of 628576

In 99% of all bankruptcies Equity is cancelled and get nothing. The Debtors clearly didn't care about Equity and were only seeking the interests of Creditors, in fact, the debtor's created claims settlements with "moving goal posts" as more funds became available, with parties that had no business receiving such claims settlements they were bequeathed by the debtor (where counsel was so conflicted with many of such) as part of the Wall Street, K Street and the highly connected in between. Their only fiduciary responsibility was to ensure that Creditors was paid in full. Their lack of concern for Equity became evident and that's the reason the Equity Committee was formed. If not for the new members to the EC and despite the obstacle of perceived personal selfish aspirations of career BK'er Michael Willingham, and the acknowledgment that 99% of of actual importance and difference maker, Nate, Equity would have been cancelled in 2012 and that would have been the end of it!!!