Replies to post #549679 on Mr Cooper Group Inc fka COOP

[hotmeat]

My biggest problem with this COOP/WMCT 2001 assets theory is how the reorganized debtor received WMI's supposed 3% ownership interest in the Trust and the dilution of our interests that has occurred since.

Remember the POR stated what were deemed to be LT Assets...they were described as ALL (not some) the assets of WMI and WMIIC aka the Debtors and Debtors in possession.

WMIH in every document referred to WMIIC as an asset-less shell while WMMRC's assets in the run-off portfolio was retained by the WMILT to pay off the Piers Creditors with only what was left going to WMIH.

We are now to believe that the LT stripped both WMIIC and WMMRC of their assets before transferring the shell to WMIH but allowed WMCT's ASSETS to go to WMIH but retained the Piers Creditor LIABILITY as a burden on the estate???

In addition to this we have the issue of our original 100% ownership of these assets being diluted to <20% due to the KKR investment and the recent merger with NSM.

The original 3% of WMCT owned by WMI, now supposedly COOP's, (???) is primarily owned by KKR and other funds that never released while we who released have seen our interests decreased from 3% to <0.6%.

[Large Green]

Oberthal, I believe what investors here fail to understand is the meaning of Safe Harbor, Bankruptcy Remote in its simplest terms. Let me explain.

1) In order to get assets committed to Safe Harbor, this is very legally challenging, as this takes specialized and committed lawyers in order to get this correct

2) Now, assets that are deemed Safe Harbor protected, this is the easy part

3) All Safe Harbor, bankruptcy remote means is that certain assets are protected from bankruptcy Creditors and NOT realized or recognized in the active bankruptcy process

4) BUT Delaware Federal Bankruptcy Court rules and ownership decisions carry the weight of the entire case whether bankruptcy remote, Safe harbor or NOT

5) Hence, the (ED) Effective Date 3/19/2012 where there was an Ownership Change which canceled ALL former common and preferred prospectuses and ALL associated documents - If this did not happen any investors who did NOT sign releases would then have an ownership right to NewCo/COOP and markers...Of course, this is NOT possible

5) To prove this point, all one has to do as ask Justin Nelson of SG who kept trying to bring up assets over liabilities of 32 over 8 billion and was repeatedly shut down by Judge Walrath to the point if he did it again he would be sanctioned - Justin NEVER showed up in court again