Mr Cooper Group Inc (COOP)

[ReikoBlack]

You're misinterpreting the part (b) and also the assets that were retained.

From that July 2, 2010 court hearing.

"Moving on, the next step is part (b), and that would be "such other claims and causes of action which shall be retained by the Debtors, and the proceeds thereof, if any, distributed to creditors and equity interest holders pursuant to the Plan, and the claims and defenses of third parties thereto," and we've defined that as the "Retained Asset Component"

Also...

"We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets. Now, it's my position, Your Honor, that the examiner doesn't need to do much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets."

As you can see, they gave the definition of what part (b) is and what was to be retained.

To recap, part (b) = "Retained Asset Component" = "such other claims and causes of action which shall be retained by the Debtors, and the proceeds thereof, if any, distributed to creditors and equity interest holders pursuant to the Plan, and the claims and defenses of third parties thereto,"

If you remember in late 2012 the WMI Liquidating Trust went after Goldman Sachs for discovery. They
preserved the right to do so, to go after such third parties, per the part (b) definition.

Date Filed: 11/30/2012
Motion by WMI Liquidating Trust for an Order Authorizing an Examination of Goldman Sachs Pursuant to Bankruptcy Rule 2004
"1. WMILT seeks authorization to conduct discovery into potential claims against Goldman Sachs for breach of contract and related causes of action. Evidence recently developed by WMILT's Litigation Subcommittee suggests that these claims could be a source substantial value to WMILT's remaining creditors and WMI's former equity holders."

Sadly, nothing every became of it.

S&G,Mr.Rosen,EC,Admins earned my respect -ITS SIMPLY GENIUS,IMO.
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through. But I understand
22 that the equity committee is very interested in having a
23 neutral third party do an investigation of those retained
24 assets.
EC knows about the retained assets in WMILT WA,but the claims had to be processed.The creditor claims got processed at WMILT DE and Admins and EC team pursuing the assets now.
WOW this is genius,thats how they protected the assets from vulture funds?.Completely makes sense to me.THEY NAMED TWO TRUSTS THE SAME IN DIFFERENT STATES AND MADE ADMINS RALTA WAS NOT PUBLIC EXCEPT EC.WOW!!!!!!!!!!!!!!!!!!!!