Replies to post #534779 on Mr Cooper Group Inc fka COOP

[ron_66271]

HM, Go Find Foot Note 5.

Keep reading.

CIC-SJ and all claims against the Debtor's Estate are closed.

Grant Thornton settlement is on the Docket awaiting approval, 8-31.


CIC is when FDIC pays WMI "the Final Payment" for "WMB and it's assets".


Example; When you purchase a car with a Bank loan, you only own 'equity interest in the car until you make "the Final Payment" to receive the Title for the car consummating the CIC of ownership.

[mordicai]

The way I read Sleet's ruling is that neither the LT or the employees have the right to challenge the FDIC's interpretation of the regulation that a LT is a covered company. So it would seem to me that the FDIC decision is binding on the bankruptcy court i.e. that it is against federal law to pay such claims. That should be the basis of a summary judgment at this time by the LT imo.