Mr Cooper Group Inc fka COOP

[Donotunderstand]

original MEGA BUCK owners of PIERS did try to be the ones to collect anything left over ---- and indeed make it only those PIERS holders with just 1,000,000 dollars or shares

That was killed by the court after ?? brought that to the court's attention (to treat part of a share class as better than another part of same share class !!)

then after that was decided

later

the issue of the interest owed to SR paper for the difference between GOV 11 rate and the coupon rate on that paper came up

the court ruled they were not just entitled to get from the estate (Wamu) the full principal and GOV rate of interest but the original rate of interest

The Delta between those two rates x all the senior debt x the time it took to remedy took the value of PIERS way down --

That is when I bought as the decline in price was a MASSIVE and more overshoot