![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, May 26, 2021 9:38:10 AM
... Very Well Done ...
(SamuraiProgrammer post# 657300)
"OK NOW I'M PISSED!
Referring to AG's lawsuit.
EVERYONE should read it. It is readable (i.e. not too much Legalese instead of English).
My understanding from first reading with 'broad strokes' conclusions at the end:
Paragraphs 5 - 12 : GOOD LORD, 8 paragraphs to contrive jurisdiction for New York state? This is one place the whole lawsuit falls apart, IMO.
Paragraph 24 - AG is insisting that the MBS should be distributed according to the 75%/25% allocation between class 19 (preffereds) and class 22 (commons). If I understand things correctly, the MBS holdings were bankruptcy remote and should not be part of the 75%/25% allocation.
Paragraph 25 - Not only 75%/25%, but she wants Class 22 to pay Class 19 another 4.32 billion???
Sixth Cause of Action (paragraphs 58 to 61) - She is asking for payment to Class 22 to be delayed until she can convince someone (anyone) that the assets really belong to Class 19.
Eight Cause of Action (paragraphs 66 to 68) - Much the same as Sixth Cause
Ninth Cause of Action (paragraphs 69 to 74) - AND she wants to lay the groundwork to sue everyone involved with the trust.
Eleventh Cause of Action (paragraphs 81 to 84) - She is asking that the assets be declared as the property of WMI.
Thirteenth Cause of Action (paragraphs 88 to 90) - She is asking that MBS assets not be used or sold ...
Paragraph 90 - AND she doesn't want to post a bond to make it happen.
Fifteenth Cause of Action (paragraphs 94 to 97) She is asking to be paid for her trouble.
Conclusions
IN MY OPINION
I believe:
1) The MBS assets were BK remote
2) BK remote assets are not part of the 75%/25% scheme.
3) She is trying to make sure they are distributed at 75%/25% - this will destroy common escrow holdings. I will provide my numerical estimates in my next post.
At the very least, she is explicitly trying to delay distribution (at least to commons) in Sixth Cause of Action and Wherefore paragraph 6. OF THIS THERE IS NO DOUBT - SHE IS TRYING TO DELAY DISTRIBUTION!"
AZ
Recent COOP News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:07:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:36:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:33:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:28:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:26:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:24:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:22:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:17:44 PM
- Xome Democratizes Real Estate with Launch of DIY Sales Platform, No Agent Required • Business Wire • 05/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:47:32 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/15/2024 12:11:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 12:12:48 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:22:09 PM
- Mr. Cooper Group Reports First Quarter 2024 Results • Business Wire • 04/24/2024 11:00:00 AM
- Mr. Cooper Group Announces Two New Senior Leaders • Business Wire • 04/23/2024 01:00:00 PM
- Mr. Cooper Group Inc. to Discuss First Quarter 2024 Financial Results on April 24, 2024 • Business Wire • 04/05/2024 03:37:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 09:34:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:05:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:04:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:03:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:01:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 10:59:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 09:28:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/14/2024 09:15:59 PM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM
Bemax Inc. Positions to Capitalize on Industry Growth with New Improved Quality of Mother's Touch® Disposable Diapers • BMXC • Jun 24, 2024 8:00 AM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM