Mr Cooper Group Inc (COOP)

[ilenes]

I did take notes, of course, so on the presumption that we won't all be rolling in the dough tomorrow (although, hey...I'm in, if it comes to that...), here is what I gleaned today from the hearing.

Tom Frangello, of Weil, who addressed the subordination of the noteholders got into a somewhat heated discussion with several of his co-counsel prior to the start of the hearing. Apparently, he thought that this was to have been postponed, and was surprised to learn that it had not been. I don't think he was prepared to give his argument today.

Poor Matthew Shure, who was finally thrown out of the proceedings against the Debtor...I expect, based on his comments, that he'll be appealing her ruling to dismiss.

The 510b discussion was very technical, and another good learning opportunity. Ultimately, the Judge ruled against Jarvis and his attempt to move up several classes in the waterfall.

Adam Strochak was trying to bore her to death, and very nearly succeeded! Thank god for Art, who was as aggressive as ever, and had us all laughing as he backed Goulding in the corner...again.

I suspect that had the train not been delayed, we might've gotten her rulings tonight.

Ilene