Replies to post #554884 on Mr Cooper Group Inc (COOP)

[BBANBOB]

GERMAN

This is my whole point! all here have their own opinions and those will not change, so just let it go the way it is gonna go anyway, no matter how we feel anyway.........

[wamutrader]

My Opinion Only:

To honor the waterfall priority, and allow for all classes to share in the whole pie, per POR7 ruling:

PIERS pmts fulfilled 100%, then waterfall to next class down Preferred, until made 100% whole at PAR, then waterfall goes down further to Preferred/Common pro rata sharing 75%/25%

Again, this is only my opinion based on being here just about daily for 10+ years.

Only time will tell if ANY of us have it at least partially correct.

GLTA!!

[hotmeat]

Your statement that...quote, "(a) For class 19, there is no language indicating that a redistribution of LTIs to that class would be shared pari passu with another class.", is correct. The distribution will not occur at the same rate or equally, ie pari passu, with another class, but rather that Preferred will receive 75% and Commons/Dime 25% instead. Only the Commons and Dimes 25% distribution will be shared pari passu between both.




Quote: "23.1 Treatment of Preferred Equity Interests: Commencing on the Effective Date, and subject to the execution and delivery of a release in accordance with the provisions of Section 41.6 of the Plan, each holder of a Preferred Equity Interest, including, without limitation, each holder of a REIT Series, shall be entitled to receive such holder’s Pro Rata Share of seventy five percent (75%) of (a) subject to the right of election provided in Sections 6.2(b), 7.2(b), 16.1(b)(ii), 18.2(b), 19.2(b) and 20.2(b) of the Plan, the Reorganized Common Stock, and (b) in the event that all Allowed Claims and Post-petition Interest Claims in respect of Allowed Claims are paid in full (including with respect to Allowed Subordinated Claims), any Liquidating Trust Interests to be redistributed;




Quote: "25.1 Treatment of Common Equity Interests: Commencing on the Effective Date, and subject to the execution and delivery of a release in accordance with the provisions of Section 41.6 of the Plan, each holder of Common Equity Interests shall be entitled to receive such holder’s Pro Rata Share of twenty five percent (25%) of (a) subject to the right of election provided in Sections 6.2(b), 7.2(b), 16.1(b)(ii), 18.2(b), 19.2(b) and 20.2(b) of the Plan, the Reorganized Common Stock and (b) in the event that all Allowed Claims and Post-petition Interest Claims in respect of Allowed Claims are paid in full (including with respect to Allowed Subordinated Claims), any Liquidating Trust Interests to be redistributed"



24.1 Treatment of Dime Warrants: Commencing on the Effective Date, and subject to the execution and delivery of a release in accordance with the provisions of Section 41.6 of the Plan, each holder of Dime Warrants shall be entitled to receive such holder’s Pro Rata Share of twenty five percent (25%) of (a) subject to right of election provided in Sections 6.2(b), 7.2(b), 16.1(b)(ii), 18.2(b), 19.2(b) and 20.2(b) of the Plan, the Reorganized Common Stock and (b) in the event that all Allowed Claims and Post-petition Interest Claims in respect of Allowed Claims are paid in full (including with respect to Allowed Subordinated Claims), any Liquidating Trust Interests to be redistributed, each to be shared on a pari passu basis with holders of Common Equity Interests"





The paragraphs above prove that any redistributed LTI's to Tranche 6 will be divided 75% between Preferred and 25% between Commons/Dimes (pari passu).