Replies to post #511833 on Mr Cooper Group Inc (COOP)

[mattchew]

WOW, I could have not said it better,

Here, this may help simplify this issue’, ... re read, the Class Segregated Release that you originally signed ... for Each specifically Released Security that You Owbed ... if everything ? was going to simply be tossed into ... one bucket ?, and then a 75% / 25% ratio divided ?, ... your signed release, would have been worded a bit differently ...

AZ

[goodietime]

"Here, this may help simplify this issue’, ... re read, the Class Segregated Release that you originally signed ... for Each specifically Released Security that You Owbed ... if everything ? was going to simply be tossed into ... one bucket ?, and then a 75% / 25% ratio divided ?, ... your signed release, would have been worded a bit differently ..."

AZ, any chance you can post the Class Segregated Release info?

I am still having a hard time understanding the difference between the 'different theories'.

[hotmeat]

Based on your theory, please explain the following FACTS.............


POR7...PGS 59-60

Quote: "23.2 Cancellation of REIT Series: Notwithstanding the provisions of Section 23.1 hereof, on the Effective Date, all REIT Series shall be deemed extinguished and the certificates and all other documents representing such Equity Interests shall be deemed cancelled and of no force and effect.

Quote: "23.3 Cancellation of Preferred Equity Interests: Notwithstanding the provisions of Section 23.1 hereof, on the Effective Date, all non-REIT Series Preferred Equity Interests shall be deemed extinguished and the certificates and all other documents representing such Equity Interests shall be deemed cancelled and of no force and effect".


Quote: "25.2 Cancellation of Common Equity Interests: Notwithstanding the provisions of Section 25.1 hereof, on the Effective Date, all Common Equity Interests shall be deemed extinguished and the certificates and all other documents representing such Equity Interests shall be deemed cancelled and of no force and effect".





PGS 53-54 (Post# 511308 - link at bottom of page)

Quote: "The ?Absolute? Priority Rule does not apply, though, to a consensual chapter 11 plan. Section 1129(b) expressly provides that the absolute priority rule applies only if one or more impaired classes of claims or interests has voted against the plan, and thus the plan fails to satisfy section 1129(a)(8).

If all impaired classes of claims and interests designated in the plan have voted to accept under section 1129(a)(8), then the plan is a consensual plan and section 1129(b) does not apply. The bankruptcy court “shall confirm” a consensual plan that complies with the other requirements of section 1129(a), notwithstanding that it does not comply with the absolute priority rule."