Mr Cooper Group Inc (COOP)

[fsshon]

JPM is putting forth a Motion to Withdraw the Adversary Proceeding. In their brief they talk about how Weil is not playing ball by "tipping their hand" so JPM's lawyers can see the cards. DUH !!!
JPM screwed up and hired a Junior Law Firm instead of a Senior one that has Weil's stature. It sounds like JPM wanted to save some costs and settled on Landis Roth and Cobb by way of Sullivan and Cromwell. Now they are swaking because the "got schooled" and are bitching because Weil won't show their defense in advance. If Weil would have told them they were going to file counter-claims in regards to the adversary proceeding (JPM CHOOSE) to bring against WMI, JPM will have said no way we are going to bring up that claim for a mere 500Mill, when the liabilities we are subject to outweigh the benefits. They opened the door!
YEP JPM's Attorney are mad and crying in the corner Weil put them in and now they are barking up the wrong tree with Judge Walrath by telling her "You have no Jurisidiction in this part of the case" stay the hell out!
UH-OH not Good
In another order of business.
Judge Walrath can not and will not be able to make the decision on the 4.4 Bil in deposit accounts until she is certain by way of BK Rule 2004 (legal discovery) that the money belongs to WMI. She knows JPM/FDIC lawyers are chomping at the bit to overturn her decisions in appeals court and that all bases have to be covered. Discovery will prove the source of the money, give it time and be assured when she makes the decision, she is making in light of all evidence seized by her regulators. Subpeona's went out last week, give it some time, people close to the case will keep us informed.

She will grant the Bank Bondholders motion to Intervene "on a limited basis" in regards to dispursement of funds only.