Replies to post #87621 on Mr Cooper Group Inc (COOP)

[drrugby]

So, I was correct.

Settlement was going to happen in April. But.

WMI and JPM disagreed over who got the 4B$ in WMB's account.

Thus, the lawsuits, claims and counter claims.

And now, JPM is withdrawing its Adversary Proceding.

Thus, IMO, With approval of the honorable BK Judge MW.

A global WMI settlement can now go forward.

Thus, Once the JPM warrants are paid.

TPG gets Paid, ABIGHAMMER gets PAID, FSHON get Paid, Ect......

Look for it on the OMNIbus schedule on Friday for Monday Court Date..

Thus, Settlement Cat comes out of the bag on Friday..

The DR. Called it... First.. Go WAMU..

[drrugby]

XOM.

Great find.

Page five. Item #12.

Anyway.. Aprils Settlement negotiation undoing by JPM has been Confirmed...

Now.. We wait for the August Global Settlement negotiation to be Confirmed...

Go WAMU..

[mordicai]

This is laughable. JPM's lawyers have to be the keystone cops. They file an adversary proceeding which gives the bankruptcy court jurisdiction which they now seek to withdraw and which also probably caused a breach of the confidentiality agreement with the noteholders which then probably gave the noteholders the ability to go into the market and confidently gobble up another 2 billion face value of bonds with knowledge of JPM's low ball settlement offer figure. Then the lawyers say hey we have to shake the bond tree, lets force them to sell by filing this 2019 motion to make the noteholders publicly disclose the trading information and idenities. Then the noteholders point out that this goes against case authority which JPM's own subsidiary argued and prevailed on. Bottom line is it looks like the noteholders are holding tight, and JPM now has no hope of saving settlemnt dollars by buying up bonds on the cheap. I guess the noteholders drove common up in price fivefold too based on the low ball settlement offer. Kind of tells me we have no downside risk . jmho

[sunshinevibrations]

Bravo, XOM. Good work. Thank you.

[suprabiz2]

Looks like JPM hired the wrong lawyers, they should have settled back in Spring. They are now deadlocked in court and settlement is likely more expensive than before :)

[rockie101]

XOM....when was this news released ?

[Royal Dude]

http://www.kccllc.net/documents/0812229/0812229090819000000000007.pdf

8/19/09

[airbus300]

It is clearly established that “the price paid for a claim does not affect the amount or of the creditor’s claim, or the creditor’s voting power” in bankruptcy proceedings. Fairfield Executive Assocs. v. Hyperion Credit Capital Partners, L.P. (In reFairfield Executive Assocs.), 161 B.R. 595, 602 (D.N.J. 1993) (citing In re Pittsburgh Rys. Co., 159 F.2d 630, 632-33 (3d Cir. 1946) (finding that “discount purchases” of the
debtors’ securities during its reorganization did not affect the creditors’ rights with respect to the full face amount of those claims))