Replies to post #449905 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

thank you

lets run through this

per the December LT December 2015 quarterly report one can see
(I am using page 7 - on the bottom)


60 million dollars - rounded available for distribution on claims
(per the order they use)
76 million dollars - rounded of money reserved for disputed claims
50 million in anticipated cash from tax appeals they have won
(that is how I read it - that this is additive and a done deal)

The provides a visible 186 million rounded

If the 76 million is a disputed claim reserve SOLELY for the claims in that order than if one subtracts the 105 million then there is --- 186 - 106 or 80 million of visible dollars ?

note - I see 51 and 13 and some change to equal 66 million as the total to be distributed pre Equity? That is Piers and Senior Note interest post petition -

so for this post I will hypothesize the 105 is now 75 million when one includes cost of operation

186 million to distribute (assumes the tax money (income tax receivable on page 7 is not in the other counts and will arrive)
75 million - obligations (my read of pp17-18)ahead of equity

rounded 100+ million for equity - without any arguments over money not visible on the LT reports

(note I think in a super fast read of footnotes (skim not read) it is likely 65 or so of the 76 now ruled not to be paid may indeed be the subject employee claims ??? but employee claims may be a broad name for several disparate groups of employees and much less was freed up by these rulings)

[PickStocks]

Yes approx 105 million in claims have to be paid, but do you not think a Financial Institution like the FDIC knows how to "SET ASIDE 105 million" for this claims and start distribution.........


FDIC-R does have a limitation of how long this BK stays "Active" FDIC-R has to start the process of closing the books.......on this BK and soon........As I have stated before, distribution can start and take up to 3 years to complete.....

[Donotunderstand]

in the December LT report I see under 75 million pre equity

and a receivable I do not know if we should count of size for a victory on a tax issue

so there may be 100 million there if all breaks our way

all employee claims are toast
the LT wins the tax money
there is 75 million ahead of us (including operating expense)