Replies to post #563584 on Mr Cooper Group Inc fka COOP

[hotmeat]

Based on what it states, after the Piers are paid the debentures held by the Property Trustee, Wells Fargo, has to be paid all principle and interest due before shareholders of WM are paid.

What makes you believe that the WMCT 2001 has that amount of cash left???

[AZCowboy]

~ Ron, A Few ? Simply Didn't Want This To Be Brought Up ~

But You Are Correct, and what some may want ?, doesn't matter, "it is what it is" ... The Original Release of Information as stated, ... Washington Mutual, Inc. issued to the Trust $1,185 million of 5.375% subordinated debentures, ... This information Is truly relevant to us all now', now in the present tense, ...

... the funding now accumulated at .0537% ever since 2001' by the ... "Washington Mutual Capital Trust 2001 (the "Trust"), a wholly-owned subsidiary of Washington Mutual", ... was not needed to pay ? or to pay-off the Plan 7 allowed Class 16 Senior Indebtedness "PIERS" ... the PIERS were Capped at WMI's Reorganization, and ultimately completely paid off with all "Cash" originally withheld in a DCR, but paid off as of 02/25/2019 none-the-less' ...

... There were more than one of these Capital Trusts continuing to function ... "The Posit"

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Ever since 02/25/2019', when the WMI Plan 7 "Senior Indebtedness" was completely and finally Paid' ? ... This, became financially important' ...

"In the second quarter of 2001, Washington Mutual Capital Trust 2001 (the "Trust"), a wholly-owned subsidiary of Washington Mutual, Washington Mutual, Inc. issued to the Trust $1,185 million of 5.375% subordinated debentures, due in 2041."

(Wells Fargo Bank took over at arms length and became the "Property Trustee / Indentured Trustee" when WMI Filed for bankruptcy on 09/26/2008) ...

"Upon any voluntary or involuntary liquidation or bankruptcy of Washington Mutual, the Property Trustee, as holder of the debentures, would be a subordinated creditor of Washington Mutual, subordinated in right of payment to all Senior Indebtedness as set forth in the indenture, but entitled to receive payment in full of principal and interest before any stockholders of Washington Mutual receive payments or distributions. The positions of a holder of preferred securities and a holder of the debentures relative to other creditors and to stockholders of Washington Mutual in the event of liquidation or bankruptcy of Washington Mutual should be substantially the same."

These Capital Trusts’, plural' ... were not considered to be a non-banking subsidiary of WMI’, ... These Capital Trusts Are Individual Functional Financial Capital Earning Instruments ...

... Remember, ... A "Debenture", Is Simply another word used for a Cash Producing "Bond" ...

AZ