Replies to post #595537 on Mr Cooper Group Inc (COOP)

[hotmeat]

Agreed, I remember reading that in another filing several years ago but certain aspects of that statement and the Merger docs don't jive.

The statement read that the assets of 4 subs comprised SOLELY of ~$444K in cash which was contributed to WAMU 1031 while the 5th sub had no assets. What interests in Real Estate assets were they referencing in the merger docs that went to the "Surviving Corp.????



The content is summarized but the highlighted points are quoted directly from the documents.


5) At the Effective Date of the Merger, the SURVIVING CORP. shall possess ALL PROPERTY AND ASSETS of the merged entities, including TITLE TO ANY REAL ESTATE OR INTERESTS THEREIN conferred by DEED OR OTHERWISE.


6) The merged entities (WM Rainier + WAMU 1031) agrees to transfer TITLE AND POSSESSION of ALL PROPERTY, RIGHTS AND INTERESTS to the SURVIVING CORP., IT"S SUCCESSORS OR ASSIGNS, at any time, from time to time or WHEN REQUESTED.


WHY SPECIFICALLY REFER TO REAL ESTATE WHEN THEY CLEARLY STATED THAT ASSETS RECEIVED CONSISTED SOLELY OF CASH??? THE LT ONLY RECEIVED CASH ASSETS FROM THOSE SUBS UPON DISSOLUTION, NOT ANY "PROPERTY" / REAL ESTATE.