Mr Cooper Group Inc (COOP)

[fsshon]

THE UST wants all classes at the EC table. he sent out 10 letters to each class for a total of 30 letters. That tells me that this is going to be one big EC!

We would need to go line by line in the legal (Contract) language of the preferreds. Can JPM even convert the P series preferreds, if so, then what penalty would they need to pay to do so? how much back divies are owed? if P preferreds are allowed to be converted, would JPM request that the P's maturity date be extended for a couple more years? If so what penalty would be required by the owners of the preferreds to allow their conversion in this manner.

Jest what are the penalties for the conversion? I know the language of the K's allows no conversion and they mature real soon. So they are out of the equation. Now the language could be modified if a majority of their owners agree to a modification (MAYBE).. Legal Contract language is usually "cut and dried" to modify it, would take the court's approval. It would be easier for JPM to just payoff the K's. Assume the P's and payout the commons.

~Fish~