Replies to post #432810 on Mr Cooper Group Inc (COOP)

[WithCatz]

Go4 -- well, not exactly.

Equity received WMIH shares at bankruptcy exit, with a very small amount of shares held-back due to certain claims. Those shares now released, were EARMARKED FROM THE BEGINNING for former equity.

All was documented in the POR.

Now that some of those claims have been resolved, those held-back shares are being released.

And yes, the Escrow shares are the mechanism (as reminded in the PR) for the tracking of who had original WMIH shares.

But, as far as it being an actual "payout" to Escrow -- which is required to be in cash -- it's not.

Again: It's a release of shares that WERE earmarked FROM THE BEGINNING for former equity, as long as the claims were overcome.

And more of these same-type held-back shares will be released, as other claims can be overcome.

And it's finite amount of shares possible to be issued. A pre-defined limited pool of shares.

But in the overall scheme, it's a minor amount of shares (most people received less than 20 shares, if not just a handful)

Most importantly, operationally, it is not residual value being distributed -- and is not LTIs or via LTIs.

So yes, Escrows have not had any return, or issued any LTIs -- and certainly via those LTIs, in cash.

And also yes, Escrows were used as the tracking mechism, to distribute a minor amount of documented, planned, and held-back WMIH shares -- and will, perhaps, a few more times to distribute more held-back shares until exhausted.

What we all are waiting for, for actual payments to occur to Escrows -- are the issuance of LTIs to Escrow holders.

[bkshadow]

GO4AWILDRIDE, escrows refers to 'markers...

...but I agree, it should bed discussed for 'clarification.

..."markers" for post emergence "conversion" of WMI equity holdings to WMIH shares.

..."liquidating trust interests" refers to those in the WMILT claims classes remaining as per POR7.

..."escrows," as discussed subsequent to emergence "conversion" has focused on the assertions and theories that FAIR AND REASONABLE means there will be more than the emergence "conversion" shares of WMIH already received.

...this "escrows have hundreds of billions coming" is a documented fact on this dual WMIH WMILT iHub message board for years.

...the "escrow markers" have not, other than for 'adjustment of the emergence "conversion" shares, have not been converted to liquidating trust interests yet; they will be when the residual NET ASSETS of the WMILT AS REPORTED are available for distribution.

...the post emergence "conversion" adjustments (you refer to as residual shares) were adjustments to the shares distributing on conversion BY THOSE THAT RELEASED under the terms defined as FAIR AND REASONABLE in the filings.

...yes, they constitute the entire return to date, but they were never "escrows." They were conversion shares as per the shareholder ballot approved settlement and POR7.

...the WMI settlement "return" is not ZERO, it is mathematical by equity held. It was disclosed as fair and reasonable and NOTHING ELSE was promised.

...The shares in WMIH on conversion for those that released were and will be the PRIMARY RETURN under fair and reasonable.

...the escrow markers, after settlement of the senior class (including FULL PAYMENT OF PIERS), may be converted to LTI (Liquidating Trust Interests) on the residial WMILT net assets after recoveries completed and claims settled as reported in the WMIH filings and disclosures.

...not even a hint or hundreds of billions is the 'core point.

...assertions otherwise, that have been ad nauseam (argument from repetition) and argumentum infinitum (argument made repeatedly (possibly by different people) until nobody cares to discuss it any more), have time proven to be "irrelevant."

...and the liquidating trust's implementation of POR7 has been "standard operating procedure."

[Donotunderstand]

Equity - stock in the original company

is not the same as Escrow which is one of two things those with that stock in the original company got - the other yes WMIH

WMIH is now worth money

so far escrows take up space on my brokerage return