Mr Cooper Group Inc (COOP)

[clawmann]

I see some talk about WMI possibly acquiring this or being acquired by that. If I recall correctly, WMI emerged from bankruptcy - on March 9, 2012 - as WMIH. In short, WMIH was the reorganized WMI. On May 11, 2015, WMIH merged with its parent corporation, WMI Holdings Corp., a Washington corporation (“WMIHC”), and WMIH was the surviving corporation. The merger occurred as part of the reincorporation of WMIHC from the State of Washington to the State of Delaware which became effective on May 11, 2015.

WMIH, had two subs: WM Mortgage Reinsurance Company, Inc. (“WMMRC”) and WMI Investment Corp. (“WMIIC”) which had no assets or liabilities. Until the Nationstar merger, WMIH operations were limited to operating WMMRC’s legacy reinsurance business in run off mode.

So please explain to me how in the world WMI can do anything at all. Anything. It no longer exists. If one argues that it does exist: where is its place of incorporation? Its offices? Nowhere. Because upon its emergence from bankruptcy, WMIH was the reorganized WMI.

I am not talking about WMI's estate, which is or was a bundle of assets (not a company). Many of those assets were distributed to creditors under the plan. Others were given to WMIH.