Mr Cooper Group Inc (COOP)

[WithCatz]

jcp -- the plan calls for all existing equity shares (WAMUQ, WAMKQ, and WAMPQ) to be exchanged for "NewCo" shares -- shortly after exiting bankruptcy. The exact date this exiting will occur, and the exact date following that -- are both unknown. Although they are targeting the 8th for the exit. Share conversion will come later.

How the market allows the current stocks to be traded is up to the market, buyer and seller. There has been nothing in anything from the Debtors or the EC about that specific pecuriarlity. But it should be obvious that shares you can't get "released", and then don't get converted (because of a lack of release) are going to disappear.

Now, with respect to the "NewCo" stock -- as I said, it will be a few days, minimum I believe, before they will finalize the conversion ratios -- it's a complicated formula for them to work out -- and can't be pre-determined because it depends on how many shares got "released". But once it's done, then I expect to see the formula published, and go forward.

Then, as with regards to trading, that is unknown. The EC has stated as such, as I recounted in my Q&A:

In their Q&A from 1/6/2012 - Docket 9350 --
http://www.kccllc.net/documents/0812229/0812229120106000000000006.pdf

Q: Will the stock of Reorganized WMI be tradable immediately upon emergence?
A: This will depend on a number of factors, including requirements imposed by the SEC upon emergence from bankruptcy. The new Board of Directors will evaluate the options available with regard to trading markets and determine what is in the best interests of the reorganized company. The stock will not immediately be listed on a nationally recognized stock exchange and may not ever be so listed. Reorganized WMI may be able to have its stock quoted on the OTCBB and/or the "OTC-Pink", subject to meeting certain eligibility requirements. Subject to the restrictions on transfer contained in the articles of incorporation discussed above and complying with applicable securities laws, the stock should be transferable if quoted on the OTCBB on OTC-Pink.

So, in other words, NewCo stock may not be liquid and immediately tradable. And how long that exists is unknown.