Replies to post #444689 on Mr Cooper Group Inc (COOP)

[Large Green]

AZCowboy, just another very accurate accounting of what happens and I will show another example of exactly what you are referring to and unfortunately this happens to often. The main reason for this is how one invested in former WaMu securities and whether they invested in former WaMu equity, signed timely releases thus receiving NewCo/WMIH shares before the deadline of 2/8/2012.

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AZCowboy Monday, 01/25/16 12:55:28 PM
Re: None
Post #
444689
of 444693 Go
~ Involved in WMIH-Corp ? 108 Hedge Funds = Interesting, Right ? ~

Yes, A Hedge Fund, also knows how to read and sequence an entire document ... not portions of a document'

A Hedge Fund would also not stop reading at a comma, simply for a convenience

A Hedge Fund does not have a need to twist, replace, or manipulate wording' and text ...

many, along with the hedge funds, are here for the return of investment, as both ... owners of the Original WMI estate ? and as shareholders in WMIH-Corp

AZ
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***************EXAMPLE TO THE AFOREMENTIONED************


***HIGHLIGHTED IN BOLD RED Italics is what the DOCUMENT REALLY SAYS***

mordicai
Re: AZCowboy post# 444277
Post #
444286
of 444416 Go
Sec 27.3 of the POR p 65 p 80 pdf

http://www.kccllc.net/documents/0812229/0812229111212000000000003.pdf

"On the effective Date the debtors shall transfer all of the liquidating trust assets to the liquidating trust."

Sec 32.2." Intercompany claims shall be extinguished..."

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32.2 "Intercompany Claims: Intercompany Claims shall be extinguished, unless otherwise agreed or resolved between the parties to a given Intercompany Claim, resolved by the Global Settlement Agreement or released by operation of the Plan. Any such transaction may be effected without any further action by the stockholders of any of the Debtors or the Debtors in Possession."...OMITTED for reason???
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So if any intercompany notes were not extinguished despite the por stating otherwise , the notes would no longer be intercompany because the LT is not an affiliate of wmih, and wmih would have to report the obligation on wmih financial statements ! Consolidated accounting is inapplicable with third parties.

And of course, the audited financial statements of wmih clearly states that wmih has no off balance sheet obligations.

[austin01]

I wish the Hedge Funds lawyers could do something to expedite the process and get escrows paid. I would think the Hedge Funds would be frustrated and concerned by this long, drawn-out process if all that money is there and they can't get it.