Replies to post #466102 on Mr Cooper Group Inc fka COOP

[creyno58]

So you both are saying that preferred escrows will only see face. What about interest or dividends.
Most all of us have believed that preferreds were uncapped during the last 8 years. Now this new interpretation, where and when did this originate?

[BBANBOB]

I think this line of thought/thinking would have to indicate that the HORSE GROUP has their collective heads up their collective butts to allow such.
One has to understand and be aware that the HORSE GROUP holds the majority of the PREFERDS and only a SMALL % PROPORTIONALLY of the Q's.
Then couple with the face being lifted SO THE COMMONS COULD PARTICIPATE.

IMHO the 75/22.5/2.5 serves the horse group far better in the long run with no caps.

Also when one considers that MW bought his Q's @ .20 per and for every 1 bill returned he would as well get 20 would he not???????????

Sorry I may be 100% wrong as rain, but I see no way that prefd's get face only and balance goes to Q's, THIS WOULD BE 100% against all logic and the very reason people buy preferds versuys common.......COMMONS were allowed on THIS RIDE but only dues to the 75% 22.5% 2.5% CONSIDERATIONS,so there was a reason....... imho


I know the absolute priority rule was by passed, but remember THERE WAS STILL CONSIDERATION for the prefrds

I still contend that the HORSEY GROUP not only had seats but that they sued those seats to ASSURE they got the better end of the deal.....................Runn the numbers again
This time base it on the HORSEY group having say 75% of all preferds with the same numbers,and then figure what their 22.5% of their Q's could be worth..
One need to look at both scenarios and THINK HMMMMMMMMMMMM what would I have done.

[WingedOne]

Where is your $40B hypothesis coming from? According to the WMIIC Bankruptcy filing (on page 1) WMIIC's estimated assets were between "$500,000,001 to $1 billion."

http://www.kccllc.net/wamu/document/0812228080926000000000001

Since WMI was 100% owner of equity in WMIIC wouldn't that make it an asset to have been included in it's own bankruptcy liquidation process?

Or is it possible that these $500M to $1B assets were allowed to grow and/or mature for 8 years?

[goodietime]

Interesting theory.

Question: At the time, what was the 'big money' acquiring ?

P's or Q's ? Were they tricked?