Mr Cooper Group Inc fka COOP

[PickStocks]

John yes you are right there were subsidiaries listed 33 that turned into 7.

Non-banking, non-debtor subs existed: “As of the Petition Date, WMI also had several non-banking, non-debtor subsidiaries… A complete list of the Non-Banking Subsidiaries… is set forth [in the Disclosure Statement].” It shows 33 non-banking subs at filing, later consolidated to 7 during the case, with cash distributed to WMI.

How they were handled: WMI reorganized/merged/sold assets of those subs and upstreamed cash to the estate; the equity in those subs was property of the Debtors even though the subs didn’t file.

FDIC distinction (bank vs. holding company): WMB was seized and put into FDIC receivership (not Ch. 11). The holding company (WMI) filed Chapter 11 the next day. FDIC confirms this separation.

If someone has the specific subs I can trace how it was treated (merged, sold, cash upstreamed) with page cites.