![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, December 27, 2010 8:35:36 PM
January not much happening until the end of the month. Rosen submits revisions to the POR but Judge Mary finally rules and denies the POR. She tells Rosen to work with the EC and he agrees to conference but of course he really doesn’t do any serious negotiating. EC’s hands tied because of the unsettled claims and they can’t submit a competing POR..
February consists of very little said publicly, EC is negotiating with Rosen but not getting anywhere. Omnibus hearings gradually whittle away at claims.
March comes and Rosen submits new POS POR#7 which still doesn’t have EC approval. It does show the 5 Billion NOL’s but the actual value is highly discounted and he manages to give more money away to Dime and FDIC to settle tax claims. He still keeps H’s as impaired but agrees to pay preferreds about 10 cents on the dollar (P’s = $100) for agreeing to the releases. He also offers commons warrants that have a potential value of a couple of dollars, but in reality have little chance of being worth anything. This offer is made in exchange for the releases.
April is spent trying to get approval for this plan and voting. The EC implores people not to take it as it is too low and they consider it a sell out.
The message boards heat up as some people want to take the money and run and others will yell and scream about justice and I expect some ruffled feathers here and on yahoo.
May, the votes are in. I expect at least the commons to reject. If the preferreds get to participate in the new company, even with a a small minority interest, I expect they will approve.
June, Judge Walrath has a confirmation hearing on POR#7. Susman goes off with objections how POR not reasonable and there is more money available. He asks for an evaluation hearing. Judge Mary advises Rosen that she still has concerns. Promises a decision in 45 days unless EC and Rosen can come to an agreement.
July, serious negotiating begins between the EC and Rosen. Continues all month.
August The EC and Rosen submit a joint plan in which the Commons and preferreds each receive more than was in the original POS POR#7. It is still less than many people want. The Judge takes the plan and promises a written ruling within 30 days.
September, The judge approves the agreement. We are all relieved, sort of happy and much wiser. Some of us will keep in touch It has been a long saga. I will miss some of you. This is my fantasy, if you don't like it, create your own. :)
Recent COOP News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:07:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:36:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:33:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:28:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:26:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:24:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:22:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:17:44 PM
- Xome Democratizes Real Estate with Launch of DIY Sales Platform, No Agent Required • Business Wire • 05/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:47:32 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/15/2024 12:11:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 12:12:48 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:22:09 PM
- Mr. Cooper Group Reports First Quarter 2024 Results • Business Wire • 04/24/2024 11:00:00 AM
- Mr. Cooper Group Announces Two New Senior Leaders • Business Wire • 04/23/2024 01:00:00 PM
- Mr. Cooper Group Inc. to Discuss First Quarter 2024 Financial Results on April 24, 2024 • Business Wire • 04/05/2024 03:37:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 09:34:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:05:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:04:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:03:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:01:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 10:59:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 09:28:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/14/2024 09:15:59 PM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM