Mr Cooper Group Inc (COOP)

[JohnnyWinter]

"Now looking at 70% recovery for creditors leaves some funds for WAMPQ, WAMKQ and WAMUQ*. The $4B cash is still under dispute and many on wall street are staying away because of JPM and FDIC interference."

If creditors aren't paid at 100 cents on the dollar (in the form of cash or stock), all classes of equity will be wiped out. That's the way bankruptcy works, and that is why new stock is issued and old classes of equity get cancelled.



Creditors always come first, and equity always comes last.