Mr Cooper Group Inc (COOP)

[thepennyguy]

Chapter : Creditors' Committees US TRUSTEE website;

take the time to read this entire link I would say we have nothing to worry about.

http://www.justice.gov/ust/eo/ust_org/ustp_manual/volume3/vol3ch04.htm

Section 1102 of the Bankruptcy Code directs and authorizes the United States Trustee to appoint an official unsecured creditors' committee and provides the United States Trustee with the discretion to appoint additional committees, including equity security holders' committees. The United States Trustee must endeavor to appoint a committee of creditors holding unsecured claims "as soon as practicable after the order for relief. . . and may appoint additional committees of creditors or of equity security .......


The powers and duties of a creditors' committee are set forth in 11 U.S.C. § 1103(c). As part of those powers and duties, the committee may: (1) review and investigate the acts, conduct, and financial condition of the debtor; (2) consult with the debtor concerning the administration of the case; and (3) participate in the formulation of the plan of reorganization. 11 U.S.C. § 1103. As part of their obligation to represent creditor interests as a whole, members of a committee have fiduciary obligations. See Woods v. City Nat'l Bank & Trust Co., 312 U.S. 262, 268-269 (1941), reh'g denied, 312 U.S. 715 (1941).

read the whole thing. I can g to sleep now ...peacefully.

GO EC/JOYCE and all us shareholders!