Replies to post #579905 on Mr Cooper Group Inc (COOP)

[BBANBOB]

Mordi

OR the court could also write an opinion as well correct?

[hotmeat]

The merits of AG's appeal and it's chances aside, what is really being fought over here???


The UW's claim is for $72M which represents ~1% of the total $7.5B owed to Class 19. To date no one knows if their Class 19 designation allows them to receive more than $72M if in excess of $10B comes back. Here's the raw math.....


A $10B return gives the UW's their full $72M claim, whereas a retail holder who holds say 4000 PQ Markers (very few retail holders do IMO) would have been entitled to $4M, but will receive instead $3.96M...a reduction of $40K due to the inclusion of the UW's.

The same will apply for this holder for every $10B that returns; i.e., a $40K loss per additional $10B, IF, the UW's are actually entitled to anything over $72M, and it becomes less relevant IF there is even $5B, $1B or even $100M left.

If just don't see the cost benefit for further delaying the process over an unknown quantity that likely does not exist, and even worse if it turn out to be over the 28K COOP shares left to be distributed to Tranche 5.

[Split T]

Mordicai, I chose these three.

2.10 He who comes into equity must come with clean hands

2.18 Equity will not allow a statute to be used as a cloak for fraud

2.20 Equity regards the beneficiary as the true owner