Replies to post #543432 on Mr Cooper Group Inc fka COOP

[jerrylev]

Certain people argue that there are performing trusts outside of WMILT that do not require release. LOL.

Just from a logistical point of view before we bother to talk about the legality, how will be the "income" from performing trusts distributed to previous WAMU shareholders? If I owned 1M of commons but never signed release, will I get money from the performing trusts? If yes then how do they know what I owned prior to 2012? And let say if I own 100M of common shares but sold them all just before March of 2012, will I get any money from the trusts?

What if my broker was gone and I lost my broker statement. How do I prove that I once had 1M of common shares?

[ParallelTrader]

Coop never had the option to sign the release because it was formed originally from the Released holders from BK.

It was originally WMIH and then had a merger and became COOP.

Investors who released got 2 things from the original bank:

Escrow Markers and some shares in WMIH

I had Common WAMUQ shares originally 125,000 in fact.

People like me had to wait until the Tranches ahead of me were paid according to the plan.

Now the employee claims are being taken care of with little to no chance of them getting appealed and winning that appeal.

The successor in interest to WMI are the released shareholders from the BK....

Let me explain the brutality of this is terms that a lot of people hate to hear. COOP is a by product of the released holders of the original WMI... COOP could not have have happened unless WMIH existed. The safe harbored assets should in fact go to the successors in interest. Those are the released holders of the original company WMI. It has been stated several times.

In the end what sucks for a lot people is that their rights to the money and assets should by all moral accounts be granted. However the rigged system clearly stated and referenced “successor of interest to WMI” “beneficial owners of the estate” and those estate owners and successors were defined by the people who signed releases on time...

This is the really simple truth. It doesn’t matter what people want COOP to be or buy, or have. Between JPM, and the successors in interest to the estate being us signers of the releases... WMIH essentially is what it is.... the Merger that occurred is all thats left from that end to anyone who didn’t sign releases.

JPM has clearly said they did not buy everything... they did not say they bought nearly everything... they just say they bought some.

WMIH was characterized as the exit company from
The BK... the holders of interest owned the majority of that....were given shares in it and thats it.

The safe harbored assets were and are still owned by the estate and the successors of interest to WMI are those owners....

So if the people who signed releases are the beneficial owners to the estate. And all tranches that were supposed to be paid have now been taken care of... then the escrow holders are the beneficial owners remaining. There is “no cap” to the money that can return to marker accounts. There is however a split 75/25 that transpires on said money being distributed.


I want to be expressly clear with this as i have run a couple publicly traded companies and have consulted for M&A deals. The funds always win... the retail holders that choose to side with funds are the winners. I bought 125,000 shares of WMIH between 2010 and 2012 because the people deciding on everything were setting this up to win. They had immense shares in the original company. I followed the shares... that simple. I released because i wasn’t going to win against the system. Case in point listen to the hearing again...

http://sidedraught.com/stocks/WashingtonMutual/Walrath%20Court%20Hearing%20-%2010162018/1bk2008-12229_20181016-113119.mp3

Theres a judge that knows the employee claims have some stake in this... shes constantly trying to avoid being responsible for reopening this. She continually references another judge as to her inability to do anything. But does say a couple times she sees the claimants point and she even said it did trouble her... the FDIC won this, they played the system. And the system is weak. Money rules and power rules. In business thats the truth.

Example:

If i were to do what Elon Musk did in any of my much smaller companies than Tesla... i would have been tried and barred from EVER running a publicly traded company...

Thats the truth...

Best,

Alex Leo