Mr Cooper Group Inc (COOP)

[xoom]

Being impaired , in POR 6, they ,SNH/AAOC/Class16, ‘laid claim to the residual’ as they projected themselves as shortchanged and need to to be made ‘whole’
EC got hold of the plan and put class 19/22 in the same position in POR 7 and got access to the residual.
It’s all about the ‘residual’
In the Kmart, bankruptcy, the value was hidden in the extremely undervalued ‘real-estate’ valuations which magically popped up to its actual values, after shafting the legacy shareholders.
Same logic, just different implementation.
FWIW
GLTA
JMHO