Replies to post #439686 on Mr Cooper Group Inc (COOP)

[Evintos]

http://www.law360.com/articles/310893/wamu-strikes-deal-to-secure-votes-on-ch-11-plan

In the settlement, preferred shareholders won a 5 percent increase of their stake in the reinsurance company set to emerge from bankruptcy — now 75 percent — with the remainder going to common shareholders.

In return for switching their votes, the TPS Groups will be permitted to seek reimbursement of up to $15 million in expenses, along with a $618,000 general unsecured claim and an $18 million payout from JPMorgan Chase Bank NA, according to Rosen.

I think you're forgetting the TPS appeal to the 3rd Circuit Court that failed. TPS basically had no choice. (Edit: They basically were left with little choice.)

[tcr7309]

what you say makes sense except for one thing, what company in their right mind would rather take an attorneys word , ie, susman, hoping that a huge windfall would come from escrows vs filing a claim for what 8 billion if money was coming back to the estate. I think they thought getting shares in wmih was their best hope. They have waited 7 years and what's his name from tps was listed as the worst investor in the world for losing 8 billion in a few months, he was a laughing stock. Do you think that they are just biding their time waiting for all this to pay off for them. I doubt it.

all imo