Replies to post #504471 on Mr Cooper Group Inc (COOP)

[hotmeat]

Agreed, I've never seen an instance where cancelled Equity/Securities could be revived to facilitate the Priority Rule.

If there is, I would welcome being educated about such.

Very clear and well laid out post.

[mordicai]

I think you overlooked the fact that WMI never transferred anything WMB to the Liquidating Trust in the POR. WMI abandoned the WMB stock beforehand. So if there is something belonging to WMB which the FDIC cannot use to pay the receivership creditors, how could it go to the Liquidating Trust? WMI never transferred the reinsurance company to the LT? Can the LT claim the reinsurance co? Of course not because it was not ever transferred to the LT. Anything not transferred to the LT went to WMIH, just like the reinsurance company. That includes the right to reclaim WMI property (i.e. WMB stock) abandoned by WMI. WMIH would wind up with what WMB has coming, if anything.