Replies to post #558125 on Mr Cooper Group Inc fka COOP

[hotmeat]

Exactly...according to Z's theory ALL 1.7B shares of Wamuq would be eligible to receive a distribution whether they Released or not. Just because assets are bankruptcy remote doesn't mean bankruptcy decisions can't affect their outcome. Read WAMU's 2005 letter to the FASB re Safe Harbor, it's discussed in it.

[Dmdmd2020]

gooditime,

Your last message:

"If the WMI Trusts are outside the bankruptcy"

Then HOW could the BK proceedings, cancel/void the non-releasing shareholders from THEIR PORTION of these Trusts??

IMO...conclusions as of February 07, 2019:

1) The assets of WMI subsidiary created MBS Trusts are in safe harbor and are bankruptcy remote

2) Per SEC press release as of September 25, 2008, stated that FDIC did not sell any WMI non-Banking assets to JPMC.

3) Per Purchase and Assumption Agreement , page 2, under “Article I Definitions”:

“Assets means all assets of the Failed Bank purchased pursuant to Section 3.1. Assets owned by Subsidiaries of the Failed Bank are not “Assets” within the meaning of this definition.”

4) WMI and some WMB Subsidiaries owned the beneficial interests to certificate participation in MBS Trusts that were created by WMI subsidiaries. The issue of ownership of the beneficial interests were under the jurisdiction of the bankruptcy cases, but the actual assets of MBS Trusts were outside of the bankruptcy cases and deemed in safe harbor thus being bankruptcy remote.

5) Therefore, the only surviving rightful owners to the above beneficial interests to MBS Trusts are the shareholders that properly released their shares prior to the Effective Date (March 19, 2012).