Replies to post #657726 on Mr Cooper Group Inc (COOP)

[mwd44]

Pickstocks- there are two things wrong with what you said.

1. You said there was nothing left after paying all the debt. That isn't true. There was a small sum left which was given to charity. The rightful owners of that small sum was Class 19 & 22.
Based on the 75/25 split, that small sum was the property of both classes. In essence, that small sum prevented the cancellation of both preferred and common shareholders.

2. You said the Underwriters now wait to see whats left outside the BK as we do. The underwriters now exactly what is left outside the BK. They have always known. In fact, they would've kept their Class 18 claim if it wasn't beneficial for them to move.

[Dmceng4]

Pick

Small potatoes me thinks what they siphon off.