Mr Cooper Group Inc (COOP)

[WaS]

"Indeed, in October 2002, AMERCO missed a $100 million bond payment and later missed a second payment. Unable to secure new financing, the company filed for Chapter 11 bankruptcy protection in June 2003 to expedite the restructuring of its debt. The filing was unusual in that the company aimed to pay all of its creditors in full and to leave its preferred and common stock intact. In this it was successful. In March 2004 the company emerged from bankruptcy on the back of a $550 million credit facility through a banking syndicate."

http://www.fundinguniverse.com/company-histories/AMERCO-Company-History.html

Gotta admit though, doesn't look like it's all that common. Then again, nothing about WaMu comes across as common either.

I'd probably be looking at this as a glass half empty scenario if not for 2 things.

1) Watching the constant "weird" trades of like 100 shares or less knocking the bid back down, or even sales under the bid achieving the same...

2) It's my own gut feeling that WMI wouldn't have let JPM hold that cash for so long as a favor. I really think JPM will step up with an offer after and only if and after WMI has a few more victories in court. If by some chance JPM can wrangle away the cash or the NOLs in court... then there's no need for a buyout.

For those that lost big here, can you really lose that much more by holding out another couple of months just in case? And for those that are gambling here, use your brains... don't throw retirement money, college funds, mortgage payments, or money you otherwise NEED for things that you can't live without.

A gamble is a gamble and no matter how the odds look, there's always a chance that you could get zapped on the backside in a big way.

"Does anybody know of any company (s) that filed chapter 11 and re-emerged with their common stock worth something as opposed to cancelled and zero value. I would be talking firms that are not family owned or majority of family controlled.

I do not know of any and I am wondering if my large purchase of WAMUQ has a chance. I know a buyout is the best chance but the longer this goes on, I believe this is much less likely."