Replies to post #544236 on Mr Cooper Group Inc (COOP)

[clawmann]

I find nothing, absolutely nothing, in your posts that makes any sense whatsoever. I have come to the conclusion that we must occupy very different realities.

[BBANBOB]

AZ
OK I have a question even if all of that is there and it is going to be distributed, I know it can be done thru DTC Euro clear and Clear stream BUT, HOW are they gonna know WHO to send how much to???????

It would be BOBVIOUS with the P's having a face value of $1,000 and K's $25 but HMMMMMMMMMMMMMM common never had a fixed FACE VALUE!
So how are they gonna know how much to send to WHO????????????

There's that pesky 75%/25% thing again

And you really think it and THE PAYOUT MATRIX truly don's apply here

[Major_Bankz]

$13.6 NOW, I'm losing MONEYYYYYYYYY!

[k-1]

Many thanks AZCowboy,

for your fast answer and help.

I really appreciate your efforts to explain this complex issues to a layman like me.

I’m going to look for help and try to follow your advices.

[Civil War General]

From Judge Walrath’s order of 7 Jan 2011:
WMCT 2001 which did not merge into WMI, belongs to PIERS

“b. Treatment of PIERS as creditors

The Equity Committee and the LTW Holders argue that the PIERS Claimants should be classified as equity, not as creditors, because their rights included warrants to purchase WMI common stock (exercisable in 2041). (Ex. D-5 at 41.) The Plan Supporters disagreed, arguing that the PIERS claimants hold preferred and/or common stock in a trust, Washington Mutual Capital Trust 2001 ("WMCT 2001"), but that the Debtors have an obligation to WMCT 2001 based on Junior Subordinated Debentures issued by the Debtors to WMCT 2001. Further, they note that the PIERS' warrants have not been exercised and they currently do not hold stock in WMI. Therefore, they argue that the PIERS claims represent debt.

*362 However, the Debtor's witness was not sure whether WMCT 2001 had been merged into WMI. (Hr'g Tr. 12/2/2010 at 147-48, 150.) If WMCT 2001 was merged into WMI, then the PIERS claims could be viewed as equity. If it was not, then they are properly treated as creditors under the Plan because they do not hold stock in the Debtors but only stock in WMCT 2001, which is a creditor of the Debtors. Consequently, the Court is unable to determine whether the PIERS are properly classified as creditors ahead of the equity security holders.”

https://www.courtlistener.com/opinion/2191267/in-re-washington-mutual-inc/

[wamugold]

AZ I don't think people realize how lucky we are to have you here providing a free service. We should have collectibly bought you a free ihub membership.