Replies to post #587010 on Mr Cooper Group Inc (COOP)

[hotmeat]

What happened to the assets of the WMCT that generated returns to fund the contracted payments to PIERS till 2040???

They weren't sold to satisfy PIERS debt since we know it was the $4B deposit, Tax refunds, the RON's and $250M from the sale of WMIIC's assets that were used to clear WMI's $8B debt.

[Windfall Magic]

So, Mordicai,
Does this then state our markers are of zero value?

If so, then why have us sign releases and why issue the markers?
I am more confused now than ever.


Windfall

[Split T]

Mordicai, that is a very ugly picture you paint. I guess I'm going to be as pissed as Mike Willingham when neither of us receive any money for our Commons from the 2001 Trust. Man, is my wife going to be mad after I tell her as we were both really counting on it,hopefully we see some money after the BK ends. Thinking about this is really making me sick to my stomach. I have IBS and it is painful to have episodes like I've had in the past. Dang it!

Split and Large section 32.4 of the POR operates to cancel the WMCT 2001 trust and prospectus:

32.4 Cancellation of Existing Securities and Agreements: Except as
provided herein, any document, agreement, or instrument evidencing any Claim or Equity Interest shall be deemed automatically cancelled and terminated on the Effective Date without further act or action under any applicable agreement, law, regulation, order, or rule and any and all obligations or liabilities of the Debtors under such documents, agreements, or instruments evidencing such Claims and Equity Interests shall be discharged;

[Large Green]

mordicai, I have been posting for years the preferred and common prospectuses had been canceled on the Effective date of 3/19/2012 and posted the links, so this should not be new to anyone.

I have said the road to wealth for Escrow Share Markers is through the (DSTs) Delaware Statutory Trusts where Kosturos is the Trustee. Once Kosturos signs a release and the bk case closes monies will flow from DSTs through the DTC/Clearstream and on to our Brokers about two to four times a year.

I just do not know for sure if we must wait for 6 to 12 months post bk closure before monies flow from DSTs due to waiting period for contesting the bk case expires.