Mr Cooper Group Inc (COOP)

[warcton]

<What really worries me is the judge is accepting this on their best business judgment. Not one piece of evidence has been presented in any manner shape or form to support any decision in any direction. >

Unfortunately, that is how the BK game works.

This was the Debtor's POR. They did submit evidence, but most of it was protected by attorney/client privilege. The EC did not put forth any of their own witnesses. All the EC did was cross examine the Debtor's witnesses. The EC strategy apparently was to focus on the low-hanging fruit such as the broad releases. It worked and the POR was denied.

The judge gave her opinion bases on what was presented to her. She only based her decision on actual evidence submitted to her. She did not consider hearsay(except to deny Creditor Comm. releases out of caution), and she did not do DD like we have here. She did not have a slew of individual investors spending countless hours researching to feed her information.

All she had was what the Debtor's put forth.

She denied their Plan of Reorganization.

Now, the EC will go forward with their evidence. The judge will eventually rule on that.

So, there is no reason to be worries, at this time.

The judge gave her decision on what was in front of her. Most of us were shocked to see her opinions, because of all the information that we have. The judge does not, yet, have that information.