Mr Cooper Group Inc (COOP)

[dix]

Do these Investors get paid?

That's what they're going to court to find out.Trial starts 11/01.

Can WMI buy back their own stock?... September 26, 2008, WMI had 1,704,958,913 shares of common stock outstanding.

Essentially No, they can't buy back their stock nor would they want to.
Regardless of the outcome of money flowing to current commons the shares that now exist will be cancelled and new Reorganized WMI shares will be issued.

Even if EC prevails, forces a shareholders meeting, and elects a new BOD, WMI is too big of a mess to continue as it is.

If there is enough money for WMI to satisfy all of its creditors and continue as a going concern the situation will play out like this:

IMO
All the notes/bonds will have been satisfied and Equity will be offered shares in the Reorganized company on a pro rata basis.

IMO
The only risks to FDIC and JPM are those involved with returning what has been illegally taken or rendering to WMI a monetary value for those items as determined by the court with the examiner's assistance.

IMO
JPM is not giving out stock for WMI commons or prefereds nor will they be buying them. JPM's exposure is for the things they took that they shouldn't have and for fair value of WaMu, whatever that is determined to be.Due to the liability provisions in the P&A the FDIC is going to be on the hook for a fair portion of the cash. That cash will go to WMI and the value of the new shares will be at what the markets pegs them based on the fundamentals of the Reorganized WMI.

IMO
The conversion of current shares to cash, if not held until emergence from Chap 11, will be by sale at discount to arbitrgeus.


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