Mr Cooper Group Inc (COOP)

[WithCatz]

Caramba -- I'm saying that the split may be adjusted. (Proposed is 70% of NewCo shares to Preferreds, 30% to Commons)... Since class 19 (Preferreds) didn't approve the POR, certain rules come into play.

Now, of course, whether the Judge follows the rules or the rules are interpreted correctly, is up in the air.

Things may adjust 80/20, 90/10, 95/5, up to and including 100/0% {and any increment in-between}. The court, has total flexibility, and no re-vote is required if she changes it. The votes were for/against the plan that specifically had such flexibility built in and disclosed.

Now since 0% = No Distribution = Releases don't count..

I expect that commons won't be totally "wiped out", so that the releases stand. But the percentage split with Preferreds may very well leave commons with a smaller cut that 30%

...Catz