Replies to post #403241 on Mr Cooper Group Inc (COOP)

[bkshadow]

Bob, WMB bondholders....

....were an obstacle to the debtors, JPM and the settlement noteholders, regarding the $6B of tax refunds from the NOL carryback. The losses of WMB in 2008 (based upon getting $-0- for the seizure and keeping $14B+ in liabilities), were what generated the consolidated NOL carryback. In practice, if WMB were to have continued, most of those refunds would have been distributed to WMB under the tax sharing agreement.

So, certain WMB bondholders were 'bought off (I believe it was $355M) by the debtor, JPM and the settlement noteholders as they supported this appeasement payment. All the while, the debtor didn't mind assets always tinkered away to not exceed liabilities for nefarious reasons.