Replies to post #596861 on Mr Cooper Group Inc (COOP)

[lodas]

hotmeat.....if you google "relevant beneficiaries", you will see that it has to do with succession to your estate...for example, your escrows are in your account, and cannot be assigned away, or traded...they are yours specifically, given to you by the court...so, say you pass on, the relevant beneficiary would be the one assigned in your will... that is why Rosen said the distribution would be made to unnamed relevant beneficiaries following the approval of the case....The trust will give your share to the ones you named in your will if you pass on... there is nothing sinister here, they are just following the escrow trust line of succession in your estate... Lodas

[Large Green]

hotmeat, in my view these are two separate actions and/or distributions. Let us parse this out for review.


This action means between now and the time the judge signs the order or BEFORE - Two separate actions or distributions

Shortly after the Court enters the order to close the chapter 11 cases, the Trust intends to make one final cash distribution to holders of Class 18 Allowed Claims (See Note 5), and redistribute shares in the Disputed Equity Escrow (See Note 7). Any outstanding LTIs and escrow markers will be canceled.

This action (subsequent) means AFTER the Judge signs the order so these are two separate actions or distributions

Subsequent to the Bankruptcy Court approving the closure of the chapter 11 cases, the Trust will remain open for a period of time in order to wind-up its operations. Following a final distribution of cash to relevant beneficiaries of the Trust, no additional distributions (of cash or equity in Reorganized WMI) will be made.



Definition of subsequent
: following in time, order, or place
subsequent events
a subsequent clause in the treaty