Mr Cooper Group Inc (COOP)

[linda1]

Thanks very much however it doesn't answer my question.


When a company is in bankruptcy is the company liable to make a payment to the preferred and common shareholders if there is available monies to do so?


Why would CIT announce immediately that they would be canceling the common shares if there is an obligation by a bankrupt company to make a payout to commons if there is monies to do so?


If there is no obligation in bankruptcy to make a payment to preferred and common equity holders then could WMI choose not to make a payment even if they were awarded more than enough monies to do so?