Mr Cooper Group Inc (COOP)

[dugit69]

Absolute priority no longer defines the relationship between preferred and common equity; sections 23.1 and 25.1 do that now. My understanding is the absolute priority did exist right up until the final hearing when TPS agreed to drop their opposition to the plan. The judge approved the language of the plan that defines the 75/25 split because there were no objections to the plan.