Replies to post #505181 on Mr Cooper Group Inc (COOP)

[hotmeat]

I would have agreed except for the highlighted (RED) text that states, all WMIIC's assets SHALL be contributed to the LT.
As we've seen with WMI/WMB, Equity without Assets carries a Tax value, not a cash value.





1.140 Liquidating Trust Assets: From and after the Effective Date, all Assets of the Debtors (including, without limitation, certain Plan Contribution Assets and such Runoff
Notes which are either (a) not distributed on the Effective Date or (b) placed into the Liquidating Trust Claims Reserve) except (i) Cash to be distributed by the Reorganized Debtors as Disbursing Agent to holders of Allowed Administrative Expense Claims, Allowed Priority Tax Claims (to the extent applicable), Allowed Priority Non-Tax Claims, Allowed Convenience Claims, Allowed WMI Vendor Claims, Allowed Trustee Claims, and the fees and expenses owed to certain Creditors’ professionals pursuant to Section 41.18 herein, in each case as of the Effective Date, (ii) Cash necessary to reimburse the Reorganized Debtors for fees and expenses incurred in connection with initial distributions made by the Reorganized Debtors as Disbursing Agent, (iii) the economic interest retained by the Debtors in any Litigation Proceeds pursuant to the respective elections for Reorganized Common Stock, and (iv) Creditor Cash on the Effective Date and the equity interests in each of WMI Investment (all the assets of which, for the avoidance of doubt, shall be contributed to the Liquidating Trust, including any Intercompany Claims), WMMRC and WMB.

[austin01]

So escrows holders are indirectly "trust investors of which WMI through WMIIC". Is that correct?

[bond-007]

Beneficiaries in my opinion is what escrow is.

[johnnykansas]

Would you mind sharing the language and link that say WMIIC was an investor in the Trust?