Replies to post #568540 on Mr Cooper Group Inc fka COOP

[BBANBOB]

AZ

COOLLLLLLLLLLLLLLLLL then by the following you finally agree 100% that Alice's filing will NOT SLOW UP ANYTHING THEN!!!!

""""It's just this simple, ... The WMI-LT Doesn't Control any Class 17 or Class 19 related ABS-Cert Trusts' ..""""


So which is it???????????

1. She will hurt us and delay things
2. It won't affect or delay a thing

[jerrylev]

Re: I think ? that once the WMI-LT's "Trustee", releases the Contents of the Account That IS NOT considered to be an Asset of the Trust ? ... back to the rightful Class 22 owners ?, ... that there will be a few heads that are going to explode' ...


Are you saying NOW that ABS-Cert distribution is delayed due to a few trustees having to be released first? When?

So what do they do with the tax issue?

So how come I receive 44 cents dividends again this morning? Is it because I own class 19?

Ron thinks that Alice filing will delay distribution but since you say that ABS-Cert is outside of WMILT, how can her filing delay anything?

[xoom]

Thanks AZ. The LT may have been right all along . They can only report on the accounts they control. The Wells Fargo trustee may need to have their final say before the Capital Trust $$ is eventually paid to the rightful owners . I think part of the confusion maybe because the term “commons” could generically apply to both class 22 UQ or the current WMIH/COOP common shares. FWIW

[boarddork]

Exactly, this was Chapter 11, not Chapter 7. It was a re-organization, not a liquidation of everything WMI. Therefore, as Chapter 11 re-org, it is designed and legal for there to be 'something' leftover.

Creditors and claimants specific only to the WMI Chapter 11 don't get anything, other than what's specifically listed as up for grabs in Chapter 11. As listed in the LT QSR. The debtor just has to put up just enough of their total assets to satisfy debts - not everything like in a Chapter 7.

The WMI Chapter 11 fight, was just over a partial pile of stuff as listed throughout the Bankruptcy. Everything else resides outside the court. I dont know why its so hard for many to understand the difference between Chapter 11, and Chapter 7. Understand the 2 distinct bankruptcy structures, and it all falls into place.

As a business owner, I know I can declare Chapter 11, and not list all my assets. I only have to list enough to settle the claims necessary for me to re-organize with a judge's approval.

WMI did the same thing but on a macro level.

What's really cruel genius, is the 10 year, 24/7, Wag-the-dog message board marketing to keep retail barking down the wrong trail.

People are ....still.....fighting over table scraps, when there is a huge burger sitting off to the side with our name on it.

[Civil War General]

Didn’t Preferred stocks have a “Right of Conversion to Common Stock” when certain events occurred, like bankruptcy?