This has been said for a long time.
Not that it is only illegal but it is a zero sum game to sell WMI assets for cheap to COOP so that COOP which is 80% owned by people who never signed release, can prosper. It makes no sense, not that it is not legal in the first place.
So what happens and it is written in court ruling very clearly, is that all assets from WMI will be sold to the highest bidder while COOP which is a public company, finds the cheapest mortgage loans that it can buy no matter if it is WAMU or FNMA or Ocwen or distressed loans that the government sells for penny to the dollar.
And no matter how many times the trust tells that it is separate, disjoint and distinct from COOP, this S4V fake theory just keeps coming back.
I think it came from people who didn't buy enough old WAMU stocks and released, and now they dream about all kind of scenarios that can be best for their situation regardless of how it is impossible and illegal.
And after waiting for 10 years, now some people expect escrow payment in the next 30 days or they threaten to go postal. 30 days from what? The merger? This has nothing to do with escrow getting paid.
Yesterday 8K shows that the trust only keeps 15M in cash while they owe 38M to PIERS, and the trust has 100M total but kept in short term investment. So they don't want to pay PIERS yet to hold off payment for escrow for whatever reason. So don't expect escrow to be paid for 6 months let alone 30 more days.
If somebody made mistake in 2012, then it is time to move on such as buying COOP or whatever stock, but don't sit here and daydream about scenarios that are illegal and impossible.
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