Replies to post #538613 on Mr Cooper Group Inc (COOP)

[hotmeat]

Wrong sir...adherence to APR would have meant all equity would have received nothing. Commons receipt of shares qualifies as a distribution and would have been prohibited. Educate yourself instead of just spewing rhetorical nonsense.

[contrarian bull]

What is the history of the 75/25% split?

Why did they decide to split the funds 75/25? Normally it's 100% to creditors, then 100% to Preferred, and anything left 100% to common stockholders. There must have been a reason to divert from this established norm.

Was the feeling that the preferred wouldn't get fully paid, but they didn't want to see the commons get nothing?

Or was the feeling that there would be massive amounts left for the commons, and they felt that since so many preferred owners invested their money at a difficult time they should get to share in the huge gains the commons were in line to get?

WMI contributed reorganized shares to shareholders, on a 75/25% ratio, that is not a violation of the APR, as stated in Court and on the record!