Replies to post #490910 on Mr Cooper Group Inc (COOP)

[clawmann]

This, I think, is potentially the big difference between WMI's bankruptcy and K-Mart's.

If I understand correctly, K-mart shareholders got nothing at the conclusion of K-Mart's bankruptcy. No shares in the new company, no escrow markers.

So, if assets come back, they have to go somewhere. WMILT or WMIH?

My position is that they would have to go to the WMILT. But what if the WMILT closes, and sometime later assets are returned?

[CBA09]

Ref: As per with K-MART BK the Debtors did not disclose the safe harbour assets,which at the end shareholders got zero.

At the end the assets gave the new K-MART a big boost and rocketing the price per share close to 500% within a year or two.

So my question is could WMIH end up with this assets just like K-MART and screw escrows?

Comment:

No. WMI the parent has ownership rights. Same token those that have rights to what WMI has rights to will own the same. Here sits escrow holders.

[hotmeat]

Actually, there were no "hidden assets" in the K-Mart bankruptcy as is believed in WMI's.

The Accounting practices utilized used their acquisition values, causing them to be severely undervalued.

Once their present day values were accounted for, their true worth was realized.

This was only done after shareholders were out of the picture and could not benefit.