Replies to post #549699 on Mr Cooper Group Inc (COOP)

[hotmeat]

This appears to be the same situation as with WMIIC where the much referenced asset-less shell in which WMIH owned 100% equity was dissolved.

I don't see how any WMCT 2001 assets would be transferred to WMIH when ALL of WMIIC's assets were also transferred to the WMILT on the ED and the empty shell to went to WMIH.


None of the assets of entities assumed by WMIH were transferred to WMIH except for the remnants of WMMRC's run-off portfolio, the vast majority of which belonged to the WMILT.



EDIT: Note all the transferred entities are shell companies with no assets. The assets of WMIIC and the run-off portfolio went to the WMILT and WMB's assets to JPM and the FDIC.


"1.192 Reorganized WMI: WMI, on and after the Effective Date, which shall include One Hundred Percent (100%) of the equity interests of WMI Investment, WMMRC and, subject to the abandonment of the equity interests of WMB, WMB."