Replies to post #429452 on Mr Cooper Group Inc (COOP)

[bkshadow]

AZCowboy, WMIIC, like WMIH, segregated....at effective date.


...the 'residual part to the the liquidation trust.

...the 'reorganized parts to WMIH.

...SOP.

...nothing special here to those experienced in such as I am sure the WMIH and WMILT boards are.

...WMIIC was a "co-debtor" (even though it had net assets) because it was a guarantor for WMI on debts.

...SOP in bankruptcies.

...some issues with the 'automatic stay.

...but those are for non-bankrupt, guarantor of debtor subsidiaries that have 'operations.

...WMIIC didn't have 'operations.

...WMIIC had investments and securities.

...as per the MOR's, such were liquidated into short term investments.

...under the bankruptcy code that required such.

[Jestiron]

thank you for all of your posts and shared DD...very much appreciate it.

I have had my dreams crushed on an investment years ago where I was guaranteed to be a millionaire. Conversion Solutions. (CSHD) I was even shopping for Porsche Targa 4s. ::sighs:: As a result, this, combined with my limited understanding of these BK processes, I stay in limbo with any decisions...at least emotionally. I DO believe we will see a return on our investments for escrow AND newco.

I do note; however, that my question on your post about impairment and solvency went totally unanswered. Can you, or anyone else, elaborate on this? It has been pitched several times on the board.

Would like to either see some support to the theory, or have it stricken from future posts as it only confuses matters.

Along those same lines, SOME (not you) on the board are suggesting the $1.888Bn bid was some kind of initial payment. I have a copy of that bid from JPMC and see NO support that this was a partial bid. I do not know who originated that theory, but maybe they can shine some light on this, OR have it stricken from future posts.

Goodluck to LTI and WMIH longs!
jest