Replies to post #599642 on Mr Cooper Group Inc (COOP)

[Jestiron]

"....liquidating trust can go ahead and pursue them..."

What if they don't PURSUE THEM?

Jest

[PickStocks]

"We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets! Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets."

Since the LTI is closing out the BK, the question is?

Retain assets, LT can pursue them...Did they pursue them and did nothing.....Because there is no money from the LT.....Is the LT saying the Retain assets had no value......There was a reason we wanted a third party to investigate to find out the value......

[ReikoBlack]

Those supposed assets has been explained, ad nauseam.

A transcript from the July 2, 2010 court hearing.
http://www.sidedraught.com/stocks/WashingtonMutual/Transcripts/2010%20July%2020/08-12229-20100720.pdf

Pg. 71 of 133

"We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept
of the retained assets. Now, it's my position, Your Honor,
that the examiner doesn't need to do much with the retained
assets other than say the assets are retained and therefore the
liquidating trust can go ahead and pursue them. They will
still be there; they can be carried through. But I understand
that the equity committee is very interested in having a
neutral third party do an investigation of those retained
assets."

""part (b) of what is to be retained""

The explanation/definition of what part (b) is...

Pg. 70 of 133

"Moving on, the next step is part (b), and that would be "such other claims and causes of action which shall be retained by the Debtors, and the proceeds thereof, if any, distributed to creditors and equity interest holders pursuant to the Plan, and the claims and defenses of third parties thereto," and we've defined that as the "Retained Asset Component""

Part (b) = "Retained Asset Component" = "such other claims and causes of action which shall be retained"

==================================================================

Part (b) = "Retained Asset Component" = "such other claims and causes of action which shall be retained by the Debtors, and the proceeds thereof, if any, distributed to creditors and equity interest holders pursuant to the Plan, and the claims and defenses of third parties thereto,"

The retained assets being referred to are NOT...

Money
Real estate
Securities
Commodities
Gold
Silver
MBS


Does anyone remember in late 2012 how the WMI Liquidating Trust went after Goldman Sachs for discovery? They preserved the right to do so, to go after such third parties, per the part (b) definition.

Date Filed: 11/30/2012
Motion by WMI Liquidating Trust for an Order Authorizing an Examination of Goldman Sachs Pursuant to Bankruptcy Rule 2004
http://www.kccllc.net/wamu/document/0812229121203000000000001

"1. WMILT seeks authorization to conduct discovery into potential claims against Goldman Sachs for breach of contract and related causes of action. Evidence recently developed by WMILT's Litigation Subcommittee suggests that these claims could be a source substantial value to WMILT's remaining creditors and WMI's former equity holders."


Sadly, nothing every became of it.

Akin and Gump are discussing­ the scope of what the Examiner can examine and what he cannot examine:

"We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets! Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand­ that the equity committee is very interested in having a neutral third party do an investigation of those retained assets."