Replies to post #556694 on Mr Cooper Group Inc fka COOP

[jerrylev]

I think CS means exactly this. What he said if that any excess money from the FDIC will be paid directly to SH and not through WMILT. Since CS works for the trust then he can say that WMILT has nothing to do with FDIC and he does know of any excess money at FDIC.

[PickStocks]

the Trust submits unaudited financial statements to the Bankruptcy Court under penalty of perjury.

This is a great statement: UNAUDITED financial statements....why?

because if they were audited then all of sudden something appears then someone is wearing an orange jumpsuit......this so they can protect themselves the thieves in charge......

As long as these are unaudited there could be 1 trillion dollars and only tem dollars distributed then given away.......

Also remember the shareholders are creditors to WMB, they will get paid before anything goes to poop and poop does not get anything other than 5%.............WMIH already received their money and NOLs nothing more than 5%.......That is in the GSA 7................

[contrarian bull]

I think your question was in regards to the paragraph highlighted in red:

2. No assets being handled by the FDIC Receivership (either hard assets or recoveries in litigations) shall flow to the Trust.

And you ask:

That means either EVERYTHING GOES TO COOP or THERE ARE NOT SUFFICIENT ASSETS AT THE FDIC to satisfy bondholders and then flow to equity. Any ideas what he meant exactly?

Amazingly the answer follows in the next sentence:
All assets that were to be transferred to the Trust have been transferred to the Trust in accordance with the terms of the Global Settlement Agreement approved by the Bankruptcy Court.

Translated: Everything that might have belonged to the WMI-LT was given to the WMI-LT already. That's it. They have it. There is nothing more. Everything else the FDIC may have belongs to someone else - if they even have anything.

This is really quite simple. All one needs to do is read.