Replies to post #719410 on Mr Cooper Group Inc (COOP)

[lodas]

no excess funds left over after all claims were paid had to be donated to charity because the WMIL-T was a tax free grantors trust to be disbursed to beneficial owners who held qualified Liquidating trust interests only... the excess funds could not go to equity because their claims were satisfied with stock in the new company... of course, you know this but are wrangling around facts looking for something to confirm your misbegotten beliefs that money is coming back... I can tell you, that you would have more money getting a job, than waiting for WMIH to pay you... Lodas

[PickStocks]

Any excess funds went straight to charity….

[Boris the Spider]

That was all a PR stunt to make the LT look like the good guys.

[ron_66271]

Newflow I Answered Your Question.

Please see my response to your post.

Please forget about the Plan 7 LT.
DONE!

That’s not there the assets and the money is.
We still have “beneficial interests” in the Original Trust.

The wording is very specific and correct.
Note that; sometimes it says Plan 7 LT, and other times it says ‘the Trust’.

Two different trust entities with two different purposes for two different claim holders.


Ron

[MadBadger]

Newflow, to my understanding the charity donations is the unclaimed shares. Apparently they can’t split those shares among the rest of the shareholders like some of us assumed. They are going to donate the money from those shares to charity. That’s my interpretation of the wording in one of the filings. I believe it was the disclosure statement. Correct me if I’m wrong. I think I’m not but I’m still human.