Mr Cooper Group Inc fka COOP

[Howard Hughes]

ESCROWS WILL NOT BE PAID....EVER!


Despite the meticulous research and endless predictions by some people on this Board promising payouts by EOY 2020 and now onto the end of the First Quarter in 2021, it is not going to happen. Their research either overlooked, dismissed or ignored this article. Their research is based on the foundation of wishful thinking, fantasy, hoping and denial of reality sprinkled with a dash of attention-seeking. That's why, despite their meticulous research, these dates keep coming and going without any payout. If their research is so accurate then why do their own predictions never materialize?

There will be no payout ever. Here, once again, is all you need to know about future escrow payments. Focus especially on the 2nd paragraph.

SEATTLE, Jan. 9, 2020 /PRNewswire/ -- WMI Liquidating Trust (the "Liquidating Trust") (the "Trust"), formed pursuant to the confirmed Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code (as modified, the "Plan") of Washington Mutual, Inc., today announced that, as previously disclosed, on or about January 10, 2020, it will initiate a final cash distribution (the "Distribution") of $39 million. The Distribution will be paid to holders of subordinated claims in Class 18 as contemplated by the Plan. After giving effect to the Distribution, members of Class 18 will have received a recovery of approximately 82% of the face amount of their allowed subordinated claims, inclusive of post-petition interest. The Distribution follows the entry by the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") of an order authorizing, among other things, the closing of the Debtors' Chapter 11 cases.


The foregoing notwithstanding, the so-called "Escrow Markers" or "Escrow CUSIPs" established by the Trust upon emergence from its Chapter 11 proceedings in March 2012 for purposes of facilitating the potential distribution of Reorganized WMI's common stock will continue to be maintained for the foreseeable future. As previously disclosed, however, former positions represented by such Escrow Markers or Escrow CUSIPs are not entitled to receive any distributions under the terms of the Plan and they do not, in and of themselves, represent an entitlement to any possible future distributions from the Trust, Reorganized WMI or the Federal Deposit Insurance Corporation (either in its corporate capacity or as the receiver for Washington Mutual Bank), as the case may be. As discussed above, no additional distributions of cash or equity will be made by the Trust subsequent to the Distribution, other than to one or more charities as contemplated by the Plan and Liquidating Trust Agreement.

Here is the link to the entire article which was published a year ago.


https://www.prnewswire.com/news-releases/wmi-liquidating-trust-to-initiate-final-distribution-and-wind-down-of-operations-300984639.html