Mr Cooper Group Inc (COOP)

[marayatano]

The buck does not stop there...

Not only will preferreds get cash (assuming there is distributable cash), they will get a portion of the new company since there is not enough cash to pay the issue amount. Not only that, they will get part of the liquidation trust and litigation trust until the face value is paid off (assuming there are these trusts upon emergence).

You are missing the full picture... preferreds are now destined to become the fulrum group. This was the place the HF's were trying to be, now it will move down the waterfall to the next group...

BTW: I know sometimes my post my come out appearing like an attack, but rest assumed, it just stating the possibility. I know typing on the internet is not the same as speaking.

imo