Replies to post #698856 on Mr Cooper Group Inc (COOP)

[lodas]

Pick.....when the mediation hearings were completed, the GSA, and the chapter 11 had not been completed yet, as well as Nate Toma disclosure of insider trading....so everything about returns was still in the air....thats why the UW were hesitant in signing releases until they knew for sure how much they would be paid in the waterfall... remember, class 18 was unsecured debt claim, so the UW held out... when, the GSA was signed, before Nate Toma, they probably knew that there was only going to be enough money to satisfy claims up to 18, with class 18 being impaired, and they would not get full recovery... so they wanted in on class 19 because they sensed that there would be monetary recovery there for their claims, even though it was a long shot... they still would get shares in the new company.... however, when the chapter 11 was closed, WMI impaired classes 19, and 22, which rendered 75/25 % of the expected recovery moot.... they lost out , just like commons, but got a better deal with owning stock in the new company....thats why there are no lawsuits... Lodas