Replies to post #536318 on Mr Cooper Group Inc (COOP)

[Civil War General]

See also my post https://investorshub.advfn.com/boards/m_read_msg.aspx?message_id=143348827

[JusticeWillWin]

Exactly the opposite IMO

If WMI had contracts with WMB, it is clear to me that by abandoning the WMB stock (the stock only(!)) they DO NOT forfeit all other interests in WMB.

That's the reason for this wording...

Read again:

"provided, however, that such abandonment shall not constitute a withdrawal or release of any claims asserted by WMI as a creditor of WMB against the Federal Deposit Insurance Corporation (the “FDIC”), in its capacity as receiver for WMB or in its corporate capacity,"

and also from https://www.sec.gov/Archives/edgar/data/933136/000090951812000125/mm03-2312_8ke991.htm

PLEASE TAKE FURTHER NOTICE that, on the date hereof and pursuant hereto, (i) WMI and its chapter 11 estate hereby abandon their equity interests in the WMB Stock and hereby surrender and relinquish all right, title and interest to the WMB Stock, including any recovery rights and/or litigation claims with respect thereto; provided, however, for the avoidance of doubt, WMI and its chapter 11 estate do not hereby withdraw or release any claims asserted by WMI as a creditor of WMB against FDIC, in its capacity as receiver for WMB or in its corporate capacity, on account of WMI’s status as a creditor, and do not withdraw or release any rights under the Global Settlement Agreement, (ii) all references to ownership of the WMB Stock shall be stricken from WMI’s and its chapter 11 estate’s books and records, and (iii) the stock certificate representing the shares of common stock of WMB having been lost or misplaced, WMI has caused an affidavit with respect to the lost or misplaced stock certificate representing shares of common stock of WMB to be delivered to WMB, and, in accordance with RCW 63.29.170, a copy of such affidavit together with a copy of this Notice will be served by registered first class mail to the Washington State Department of Revenue.

And (ii) and (iii) also refer to the WMB stock only!!!


Your post:

Does it mean that by abandoning WMB, WMI would also forfeit all interests in WMB?

I don't know which one is more beneficial for escrow:

- Abandoning WMB and get the 6B NOL for WMIH

- Retain the rights in WMB and have no NOL

As bad as it is, I deduct that if there is nothing left in WMI, they would not have abandoned WMB for a NOL. Or the EC could be crazy and did this no matter what.