Mr Cooper Group Inc (COOP)

[ReikoBlack]

No, it's not complicated but for some it is. Equity was not going to be included in Plan 6. Equity was 'out of the money'. Now, Equity was included in Plan 7, Equity survived. ( I'm sure everyone knows of the details why, thanks to Nate.) I'm not sure of the point Ron's trying to argue about with Plan 6. It truly doesn't matter because the end result would have been the same. Whether it would have been Plan 6 or (as we know) Plan 7 being approved, in either case Equity would not/did not receive any cash distribution from the WMI Liquidating Trust from any liquidated assets. Class 19 and Class 22 were not issued LTIs. The waterfall ended at Class 18, with Class 18 not even being paid in full.

In reality of course there is no Plan 6 in force - because no such plan was ever confirmed. If Plan 6 had been confirmed , there would have been no need for Plan 7, which was confirmed.

This is not complicated.