Replies to post #498722 on Mr Cooper Group Inc fka COOP

[hotmeat]

What do you believe was WMIIC's role, IF ANY, with respect to the SPE's/Trusts?

I ask since the LT has already indicated that the Assets of WMIIC belong to them while WMIH own 100% of the Equity.

Thank you for your valuable input.

[dmceng]

CBA09

So I should be very happy with my ownership of xxx,xxx shares of WMIH based on getting the SPE/Trusts distributed to WMIH?

TIA

Take care
David

[goodietime]

"1) The bankruptcy estate does not have jurisdiction over these SPE's/ Trusts. WMI in its capacity of equity interest does."

So, WHY isn't anything being distributed?

Is it usual to wait and get it all at once?

[nhtrader]

CBA09

Ref: Post 498722

SPE/Trust are designed for independent ownership. Not controlled by WMI nor WMIIC.

Yes these SPE's/Trust are the "Crown Jewel" of WMI in it's capacity of being the Parent. Also Facts of great importance:

1) The bankruptcy estate does not have jurisdiction over these SPE's/ Trusts. WMI in its capacity of equity interest does.

2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI.

A Turnover action is routine Bankruptcy procedure to bring back to WMI estate what is considered estate assets. And SPE/Trust Income is not part of the estate assets.

We are all good here with the SPE's/Trusts of the Parent - WMI.

My questions:
In the red highlighted quote above, I am confused. Did you mean, " WMIH-Corp" instead of WMI in its capacity of equity interest does? Also, forgive me if I'm wrong, did you contradict yourself by saying the SPE's/Trusts are the "Crown Jewel" of WMI (Parent), but then say the SPE/Trust Income is NOT part of the estate assets? Are you saying that the SPE's/Trusts of the Parent are going to WMIH-Corp? Thanks it would be good to hear from you again.