Mr Cooper Group Inc fka COOP

[ChangnoiPlaza]

**Clarification on the Ledger Creation**

The passage you quoted suggests that *Paladin created a new shareholder ledger based on W-9 forms*. That cannot be correct in the context of non-U.S. shareholders.

* A **W-9** is only applicable to **U.S. persons** (citizens, residents, or entities with U.S. tax obligations).
* Non-U.S. investors would have provided a **W-8BEN** (individual) or **W-8BEN-E** (entity), not a W-9.
* If Paladin had strictly relied on W-9 forms, **foreign shareholders would have been excluded** from the ledger and, as you noted, would not have received escrow distributions.

Therefore, the **definitive shareholder ledger** in 2012 must have been established from the **voting/consent documentation and transaction records**, not just from W-9 submissions. The W-9 (or W-8BEN) forms would have served only as *supplementary tax documentation* for reporting and withholding compliance — not as the source of legal shareholder entitlements.

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✅ In short:

* The **shareholder ledger = corporate record**, determined by deal documents and shareholder votes.
* The **tax forms (W-9/W-8BEN)** = IRS compliance tools, not dispositive of ownership.