Replies to post #427846 on Mr Cooper Group Inc fka COOP

[dragoon76]

And that reminds me of one thing. The speed in which they filed for bankruptcy. I thought it was super fast and rather smooth, for a company of WAMU's size. Unless.....this was planned long ago.

[dragoon76]

Also, the day in March that Lyin Hosen started talking, resulting in the collapse of the stock. In your opinion, do you think at that point the hedge funds used that event to grab preferreds at bargain basement prices.

[barefoot123]

AZ Cowboy - Liquidating Trust: The Liquidating Trust will receive, manage, and liquidate all assets belonging to the Debtors that are not directly distributed to creditors under the Seventh Amended Plan, apart from the assets allocated to the Reorganized Debtor. These Liquidating Trust assets include potential litigation claims that have not been resolved (by settlement or otherwise) against a number of entities and individuals who may have contributed to WMI' s failure, including accountants and underwriters. Distribution of any money obtained as these assets are liquidated will follow the priority scheme in the Bankruptcy Code, and creditors will be made whole before any money can be distributed to WMI preferred or common shareholders.

"assets belonging to the debtors" I'm guessing this is the WMIIC you are referring to...among other possible assets.

[Large Green]

AZcowboy, this is an excellent summary and thank you for sharing much of your hard work with this group. For the most part, this is a great forum with many, many good people thirsting for the truth - strictly from a making money point of view and NOTHING more.

I know you speak the truth and expect nothing for it other than maybe well-deserved appreciation.

Please continue to post here as there are many deserving investors and just ignore well you know. Thanks again for all of your input.

[tanjazielman]

Great Summary of what ACTUALLY ocurred regarding WMIIC AZ!

Allow me to add that first JPM, and consequently Hedgies, would reap the great rewards that are coming from WMIIC, together with the synergy with WMIH. But that is not what happened

Thanks to Susman and MW LTI's (and thus WMIIC's assets) are soon to be 100% in the hands of us, the former shareholders, and WMIH is practically completely in the hands of former equity.

That's the real story for me, not the cover up story like what people make you believe.

JPM, Walrath, Rosen, Hedgies, TPG, Killinger and Co, Nate Thoma, MW and Susman, Doreen Logan even, knew exactly what was going on.

Did Sheila? Don't think so.

She made a big boo boo. In our favour, gotta love her.

Now We know why the Hedgies became the REAL target, instead of JPM and FDIC.

Now we know why Susman and MW hired the examiner to conduct a discovery of which the results were detrimental on the short term, but turned out to be what was to be expected and helped equity's case in the long term.

Now we know why Sheila went on her knees before Congress to pass the Dodd Frank and various other laws, to prevent fiascos like this in the future.

Now we know why WMIH reincorporated in Delaware, where WMIIC was incorporated all the time.

All of this makes sense to me in hindsight.


The planning of the future of WMIIC was a carefully thought out process, but the strategy of Susman and MW is what makes everything all just, good, fair and reasonable!