Replies to post #726273 on Mr Cooper Group Inc (COOP)

[lodas]

that statement was made so that the Litigating Trust would not use up the 20 million dollars to pursue further court action to retrieve assets... remember the Litigating Trust took the employees claims to court for several years and won the case, thus releasing the DEE shares for distribution to new share holders who had valid escrow markers... i addition, WMI tried to bring the FDIC to court for 20 billion dollars , but the court shot it down, for lack of substantial evidence that WMI was damaged... also , JPM threatened to countersue WMI for 27 billion dollars...WMI knew the could not prevail in court, so they abandoned all efforts to pursue litigation cases by the WMIL-T , thus preserving whatever was left of the 20 million allotted to be spent on court cases... in addition, Rosen stated, that the Litigating Trust arm of WMIL-T had ceased to pursue court cases in order to conserve money that was going to pay creditors...possibly a breakthrough in the GSA negotiations was forthcoming, in which WMI was going to get about 12 billions in relief for their 20 billion dollar claim without having to go to court, and possibly lose.... Lodas

[newflow]

CONSERVE AND PROTECT ASSETS/RETAINED ASSETS Mr.Rosen TALKED ABOUT WHICH COULE BE CARRIED THROUGH WMILT PASS-THRU ENTITY? OFCOURSE WITH EQUITY COMMITTEE AND FDIC TOO, MOST PROBABLY JPM TOO.

in JULY 2010 Mr.Rosen said this in the court
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.


In Oct 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
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And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.

In 2012 EC FAQ mentioned about sources of distributions and WMILT
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Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf

In 2012 LT Agreement was executed with what Trustee can't touch
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6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm

Page 22

IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.

2020 after creditor claims were paid off.
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WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.