Replies to post #516955 on Mr Cooper Group Inc fka COOP

[jerrylev]

Right on Otti.

The absolute priority has to be followed above class 18 because they are all creditors. Those who keep saying that PIERS (class 16) will be impaired, are living in some fantasy lawless land.

Having said that, the preferred stocks have been canceled and all classes from 19 to 22 are all in one bucket called shareholders or equity which will be paid last after everyone is paid. The only exception that the judge made before canceling the preferred, was to allocate the distribution of 75/25 but going all the way to the end. That was spelled out very clearly and there is no wish, hope that it is this or that. It is what it is 6 years ago.

[BBANBOB]

Olti
It really should be BOBVIOUS by now that the APR no longer applies here..........
Share distribution were done 150 mill to preferds and 50 mill to commons, 75%/25% right and it will CONTINUE to be so imho all the way to the end, even if there is a S4V swap preferds would get new preferds for their 150 mill shares(so not to add further dilution) and commons will get their 50 mill shares.
As with cash in the registry accts ect 75/25 again imho

plain and simple stpuid the way I look at it 75/25 IS HERE TO STAY and has so far been proven or shown to be the decided payout matrix

Cash and shares were already done this way once to test the DTC's system and done once with the distribution of the WMIH shares 75/25 or 150 mill to preferds and 50 mill to commons