Mr Cooper Group Inc (COOP)

[kpsk82]

nope they never filed Ch. 11
"Following the raid at the company's corporate headquarters, the board of directors held an emergency meeting to discuss what actions needed to be taken. One of the first was the termination of Richard Scrushy as Chairman and CEO, and Bill Owens as CFO. Robert P. May was elected as interim CEO and Joel C. Gordon as Chairman. Another issue that was immediately addressed by the board was how it was going to come up with the cash for interest payments of senior bonds and principal payments due on a $344 million convertible bond. The board agreed that the company's cash flow problems were too great to tackle on its own. At the advice of its lender JPMorgan Chase, the company hired restructuring firm Alvarez & Marsal to bring its finances in order and immediately appointed Bryan Marsal Chief Restructuring Officer. By the end of 2003, the company had most of its finance back in order and was able to avoid Chapter 11 bankruptcy."

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