Replies to post #428066 on Mr Cooper Group Inc (COOP)

[bkshadow]

barefoot, WMIIC was a co-debtor subsidiary...

...and ALL of the debtors assets are liquidated in a bankruptcy; first by the debtors and then (if applicable) by the liquidating trust.

...so WMIIC's assets were liquidated 'just like all other assets of WMI.

...the REORGANIZED DEBTOR was WMIH, along with it's wholly-owned subsidiary WMIIC that (after liquidating its assets toward the estate) has no assets and is an empty shell subsidiary that is available to used going forward, and WMMRC, the reinsurance subsidiary in runoff mode (the value of its assets were offset to zero by the issuance of Runoff Notes; there were no net assets given to WMMRC or WMIH as the $75M settlement money was a direct to WMIH payment / transfer that 'was not an asset of the debtors estate.

The liquidation of ALL securities and investments of WMIIC is ALL OVER the SEC filings of the entities.

bkshadow Member Level Tuesday, 07/07/15 01:10:30 PM
Re: AZCowboy post# 428004
Post # of 428073
"ALL" WMIIC Securities & Investments Liquidated...

...per the various bankruptcy court documents and the following quote in the "introduction" to WMIH 10K's.

...again "ALL" was used.

Quote:
Table of Contents

PART I

Item 1. Business.


Introduction
WMI Holdings Corp.

On March 19, 2012 (the “Effective Date”), WMI Holdings Corp. (“WMIHC”) emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc. (“WMI”). WMIHC is a holding company organized on August 17, 1994 (under the name Washington Mutual, Inc.) and existing under the laws of the State of Washington. WMIHC is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation (“WMMRC”), and WMI Investment Corp., a Delaware corporation (“WMIIC”). 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. As of the Effective Date, we had no operations other than WMMRC’s legacy reinsurance business with respect to mortgage insurance which is being operated in runoff mode and we have not written any new business since the Petition Date. 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).