Replies to post #694705 on Mr Cooper Group Inc fka COOP

[JusticeWillWin]

Probably she was confused ot couldn't remember correctly and meant stock in the new company and escrows...

WHY DID SHE SAY SHAREHOLDERS WERE ISSUED WARRANTS?.
The WaMu bankruptcy case was by many objective standards a
successful case. In excess of $7 billion was distributed to
creditors and shareholders. Virtually all creditors received
100% of their claims with post-petition interest and shareholders
received stock and warrants in a subsidiary that was capitalized
with $150 million in new money. The WaMu case did not have the
issues that the bill before you now is intended to solve because
the WaMu Bank had been seized and transferred by the FDIC before
the holding company filed its bankruptcy proceeding. However, I
think that some of the issues that became apparent in the WaMu
case can shed light on the subject before you.
https://republicans-judiciary.house.gov/wp-content/uploads/2017/03/Walrath-Testimony.pdf