Replies to post #658469 on Mr Cooper Group Inc (COOP)

[JusticeWillWin]

Because it was NOT absolutely clear at this point in time that there is no money to distribute. There were some litigation aspects. Do you remember the investigation against Goldman Sachs? Many thought it could bring back a billion to the estate, but suddenly the WMI-LT stopped it because they thought it was meritless.

Rosen said from the beginning the PIERS are the "fulcrum securities". You can find it in one of the first filings. I've read it multiple times.

Explanation of fulcrum securities: https://www.wallstreetprep.com/knowledge/fulcrum-security-primer-restructuring-and-distressed-debt-investing/

Fulcrum securities is where the waterfall stops and these securities are likely to control the reorganized company. But then old equity (class 19 and 21) was at the table (thanks to Nate) and got a huge part of the reorganized debtor, now Mr. Cooper Group COOP.
Probably THAT was our "fair and reasonable".

The FDIC gave WMB to JPMC for $1.9 billion. I am sure WMB was worth much much more, and WMI/equity should have been compensated for it, but that was obviously NOT the case. JPM made a big steal, orchestrated by the FDIC. And the lawyers of the estate did NOT litigate it. Why? I don't know! They should have questioned and litigated the whole receivership!

They would have been successful IMO, but the DID NOT DO IT.

How can Ramos statements be official, if he is the counterpart of the "Alice-game"? A PRESS RELEASE or COURT RULING would be OFFICIAL and nothing else! And by the way, if the small amount of COOP shares would be the so called "Fair&Reasonable", why in the world the gave us Escrow shares at the same time?