Replies to post #588490 on Mr Cooper Group Inc (COOP)

[Large Green]

If WMILT is facilitating a liquidation by accepting COOP shares as currency (example) for the Servicing Rights held in a DST for the benefit of Marker Holders, then this would be considered as WMILT liquidating and not running a business or running foul of the Trust.

How does this run afoul of anything? This is no different than what COOP has done with its last three acquisitions...using its shares as currency for an asset purchase.

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The Liquidating Trust will not continue,nor engage in at any time,the conduct of any trade or business other than the liquidation and distribution of the Liquidating Trust Assets, and is intended to qualify as a “liquidating trust”for federal income tax purposesunder applicable Treasury regulations."

[BBANBOB]

Reiko

"" liquidating,"" there is a comma behind liquidating isn't there?
Now had the FULL intent meant to LIQUIDATE to cash it would have stated TOO LIQUIDATE AND TURN TO CASH
but it did not, so in this instance LIQUIDATE can mean anything can't it?


Definition of liquidate

transitive verb
1a(1) : to determine by agreement or by litigation the precise amount of (indebtedness, damages, or accounts)
(2) : to determine the liabilities (see liability sense 2) and apportion assets toward discharging the indebtedness of
b : to settle (a debt) by payment or other settlement liquidate a loan
2 archaic : to make clear
3 : to do away with especially by killing was hired to liquidate a certain businessman
4 : to convert (assets) into cash liquidated his securities

intransitive verb
1 : to liquidate debts, damages, or accounts
2 : to determine liabilities (see liability sense 2) and apportion assets toward discharging indebtedness
Other Words from liquidate


I guess it all boils down to HOW ONE reads it but, the comma alone indicates LIQUIDATE is separated from the CASH part you are suggesting, so then BY definition Of LIQUIDATE CAN VERY EASILY BE APPLIED TO THE DEFINITION.

So doesn't this then qualify and allow for a S4V as a payment or other to settle a DEBT?


I was BOBVIOUSLY never an ENGLISH major, but I am sure we have some here that could clear it up if IF IF I am mistaken

[bbHub]

for federal income tax purposes ..

the wmilt does not or has not performed in the conduct of any "trade or business"

the wmilt performs or continues to perform as a "liquidating trust"

for federal income tax purposes

looking at the tax code (USC 26) might help to understand the distinction.

IMHO

[hotmeat]

Quote: "WMI Liquidating Trust (the “Liquidating Trust”) serves as a mechanism for liquidating, converting to cash and distributing the Liquidating Trust Assets"


Comprehension of basic English seems to be a serious issue with these guys.