Mr Cooper Group Inc (COOP)

[ron_66271]

The February MOR Retained Earnings;

Have nothing to do with the Reorganized Debtor/COOP!!

During the creation of Plan 6, a Liquidation Trust was created for the benefit of AAOC.
The Equity Community proved to the Court that the assets value in this LT was greater than AAOC/Class 16 claim. The Equity Community proved ~$25 Billion was protected/hidden in the LT;
• BOLI/COLI
• Exchange Event
• Turn Over
• Rabbi Trusts
• others

The Equity Community requested control of that LT during a Plan 6 hearing. The request for the control of the LT was granted during the transition from Plan 6 to Plan 7.

Now that the Equity Community controlled the LT created during Plan 6’s creation, the EC pulled out sufficient funds/money for a new Plan 7 Liquidation Trust for payment in full for all the Creditors.


The Big Hint;
The Retained Earnings of the February MOR are never discussed in the body of the same document regarding Plan 7 because RE has nothing to do with Plan 7 for Creditors.

Plan 7;
The Equity Community representing Class 22 also proved to the Court in the February MOR that the RE held in Treasury Notes was sufficient to pay Class 19’s at a +2.1 multiple due to the 75/25% split of the RE at that date.
The TPS had a $4 Billion Claim.
IMO, now worth ~$10 Billion
Similar math for the Series K.



Have a great Thanksgivings Day with your family and friends,
Ron