Mr Cooper Group Inc (COOP)

[marayatano]

FDIC has no claim over the 4.4 billion that belongs to Wamu Holding Co. That has already been stipulated between the parties.

Wamu Bank was purchased by JP Morgan, therefore JP Morgan bought the assets of Wamu bank. Not only did JP Morgan obtain the assets, they also assumed the liabilities and FUTURE liabilities of Wamu Bank.

Any bonds issued by Wamu bank are the liabilities of Wamu Bank and not Wamu Holding.

FDIC took Wamu Bank from Wamu Holding as the receiver and sold the asset (Wamu Bank) to JP Morgan. JP Morgan, for consideration of the purchase, paid 1.9 billion for said asset. 1.9 Billion was received by FDIC as the receiver on behalf of Wamu Holding.

Now that Wamu Holding Co. filed BK under Title 11, ANY and ALL assets (4.4 Billion), income, sale, proceeds from sale (1.9 Billion), etc., belong to the TRUSTEE of the Estate and is put under his/her control during the BK Proceeding.

Therefore, 4.4 Billion PLUS 1.9 Billion will shortly be summoned to the Estate.

The Judge want all money that belongs to Wamu Holding placed in the CONTROL of the TRUSTEE where it belongs. The Judge will not allow the creditors nor FDIC dictate the law in a BK proceeding, i.e. transfer funds in to an escrow account for the benefit of "certain" creditors or any Moving Party.

All Creditors have to wait in line in their specific order if they want payment. There is no deviation from that. Why even try?

I have more to write, but I going to watch Heros!!!

The above is my opinion only.
Not edited for spelling or grammar.