Replies to post #428036 on Mr Cooper Group Inc (COOP)

[fwh3334zeke]

What about the 151 billion in assets belonging to WM in JPM"s 10 k listing as OFF BALANCE ?? that proves that all assets were NOT liquidated

[PickStocks]

All of the banking assets of WMI were sold to JPMorgan Chase Bank, N.A. (“JPMC”) by the Federal Deposit Insurance Corporation (“FDIC”) prior to the Petition Date and all of the securities and investments held by WMIIC were liquidated and the value thereof distributed in connection with implementing the Plan (as defined below).





Quote:
On March 31st, 2012 ... The Trust Reports that ... "such securities (231m dollars worth) of Short Term securities were liquided and transferred to WMI' ... to fulfill the financial need of the reorganization ...


This makes AZ and Large Green statements that billions will be coming back false......we only received the 231 million to reorganized then Board should be doing a merger or something soon or there is nothing to merge to....


The BoD did themselves a great deal off the 231 million by awarding themselves shares and 1/2 million dollar salary......


That will eat majority of the dollars by 2030......NoLs are worthless it takes more money to use......

[barefoot123]

As of September 26, 2008 (the “Petition Date”), the date WMI filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code (“Chapter 11”) in the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), WMIIC held a variety of securities and investments.



All of the banking assets of WMI were sold to JPMorgan Chase Bank, N.A. (“JPMC”) by the Federal Deposit Insurance Corporation (“FDIC”) prior to the Petition Date

To liquidate just means to settle accounts by distributing assets...so...we still have WMIIC...somewhere... since the banking assets went to JPM prior to the petition date.