Mr Cooper Group Inc (COOP)

[marayatano]

Sorry, I should have been more clear. There are two (2) different settlement agreements:

Settlement between EC and SNH was the WMI2 from Class 16 to Class 19, 21 and 22.

The Settlement for Class 17A (WMB Senior) was the GSA, but Class 17B (WMB subordinates) was zero recovery.

By the way, i do think that Art is a great attorney and very persuasive.

We should wait and see that the ruling/opinion is on Tuesday. It does not effect me either way the judge rules.

imo


EDIT: Saw you edited your post to include:

So I question if Class 16 can legally give WMI2 to an equity class such that it bypasses one group of lower debt (Class 18), yet doesn't bypass another group--WMB subordinated claims at Class 17, which is being given money under settlement terms. My hunch is that if the judge does rule DIME as Class 18,

The answer is yes, you can bypass because (as an exemplar only). If I were in Class 16, my distribution is WMI2. That is MY distribution in which I can do whatever I want with it. I choose to redistribute or gift it to EC, which is Class 19, 21, & 22.

Analogy: Parents died. I have 2 brothers. 1 brother got a house, the other got cash. I inherited a car, I do not want the car but I want to settle a "disagreement" with someone. I offer the car as settlement to that person I have a disagreement.

Replace me with Class 16, car with WMI2, "disagreement" with IT Claims, and Person with Class 19, 21 and 22.

imo