Ron, that still doesnt make sense. If a large amount of cash returns to the newly merged Coop/WMIH, then there will be a lawsuit against the old WMIH board of directors for diluting us at the last minute. They will have to prove in court that they had no knowledge of assets returning to WMIH from safe harbor all those years...good luck with that!
Otherwise, they can be charged with securities fraud for failing their fudiciary duty to maximize value to then current WMIH shareholders before merging with NSM.
The only way this merger makes sense is either..
1) they really merged for the $6B NOLs
or
2) the merged entity will buy the returning assets from old estate with borrowed cash or s4v exchange.
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