Replies to post #78290 on Mr Cooper Group Inc (COOP)

[ClaudioV]

That confirms it!!

[uzualsuzpect]

Thanks, I was searching for the closest bridge :) lol

[mordicai]

In order for her to have decided she has jurisdiction to rule on the summary judgment she had to first determine the 4 billion was indeed an asset of the estate . So imho this tells me she is/will be ruling the 4 billion is to be turned over to the holding company. Otherwise, she would have just stayed the turnover action as well. So if JPM doesn't settle quick, it loses a big 4 billion bargaining chip going forward.

[NASCOW]

So this is what will decide Wamu fate?

Operating under the protection of the Delaware bankruptcy court, WaMu's former parent moved to claim the cash, invoking its rights as a depositor.

JPMorgan and the FDIC say the fate of the money will hang on a law that falls outside the jurisdiction of the bankruptcy court, the Financial Institutions Reform Recovery and Enforcement Act of 1989, FIRREA.

I would focus my research on the Financial Institutions Reform Recovery and Enforcement Act of 1989, FIRREA..right now and figure just how reaching it is, that and the fact that this current admin sees no problem with ram rodding bankruptcy law has me concerned with the final determination