Mr Cooper Group Inc fka COOP

[novascotiaSTS]

You maybe should tell the FDIC that WMB‘s bonds are over collateralised. They seem to think that there wont be sufficient assets to make „any distributions“ to them.


On the day after WAMU failed, its holding company, Washington Mutual, Inc. ("WMI"), filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Case”). WMI owned all WAMU shares of stock and was the sole equity holder of WAMU. The Receiver does not currently have and does not anticipate accumulating sufficient assets to pay in full all of the allowed claims of the general unsecured creditors of WAMU. As a result, the Receiver does not project having sufficient assets to make any distributions to WAMU subordinate note holders or equity holders. Therefore, it is unlikely that any distributions will be made to WMI or its successor on its claim as sole equity holder of the failed bank

https://www.fdic.gov/bank-failures/status-washington-mutual-bank-receivership