Replies to post #429629 on Mr Cooper Group Inc (COOP)

[hotmeat]

Could you/anyone clarify this part (in red) from the same paragraph......



"provided, however, that “Released Claims” does not include......

(3) any avoidance action or claim objection regarding an Excluded Party or the WMI Entities, WMB, each of the Debtors’ estates, the Reorganized Debtors and their respective Related Persons; and, provided, further, that “Released Claims” is not intended to release, nor shall it have the effect of releasing, any party from the performance of its obligations in accordance with this Agreement, the Confirmation Order or the Plan."



Avoidance action: action brought in a bankruptcy proceeding against corporations and individuals who have received payment from a bankrupt debtor. There are primarily two types of Avoidance Actions: Preference Actions and Fraudulent Transfer Actions.

[zeus_0100]

In a Global Settlement, the fdic R would of course NOT been released for a very simple reason, that being to show that no grievance exists toward them, and they obviously agreed to that, showing that they feared no possible future litigation, just plain simple BK Law 101. No mystery and nothing more to see there, just move along now.

[stoxjock]

Great Post. And Thanks very much for Educating All of Us..

So the FDIC & FDIC-R had NO Problems in FRAUDULENT CONVEYANCE of WAMU Assets to the SNHs AKA GANG of 4Hedgies - AAOC but they are kicking and Screaming to let the Assets come back to the Equity holders of WAMU??? Great!...

And the FDIC was created to ensure the ineterests of Common Man were protected ...NOT!