Replies to post #398471 on Mr Cooper Group Inc fka COOP

[WithCatz]

AZ -- I'm missing something.

If there's nothing left to distribute, then how does it continue to Equity?

And if there's any potential remaining, but PIERS are not yet paid in full, how are they going to be 'closed out' (unfulfilled) and yet another class, lower in priority of waterfall, start to get paid?

Isn't it either that Cash/RONs are sufficient to pay off PIERS and close that class, or not? And if not sufficient, how does former equity get paid anything?

...Catz

[gold-nugget]

Bingo

[Donotunderstand]

AZ

If the last assets are distributed and when finalized the reinsurance trust deal and the CA TAX both go to try and finish the obligation to Tranch 4

then why would you say

Then we have to move on to scrutinize any claims with Tranche 5 (Rule 510(b)) issues and all of that ... conversations for a bnew day

huh?
no money - no assets - but scrutinize claims related to the next Tranche?

why?