Replies to post #100747 on Mr Cooper Group Inc (COOP)

[rramirez82]

Thats the reason JPM filed its Notice of Divestiture of Jurisdiction. Its looking to stay the bankruptcy proceedings pending a decision on JPM's Motion for Leave to Appeal. This was obviously a strategic (albeit desperate) move to buy more time as well as a temporary shield from adverse rulings from Judge Walrath. I'm curious to see how Judge Walrath will address this on Friday.

[Stockminder]

Mehedi,
Bopfan posted this on Y 7/30/09 in regards to Forbearance.

"What I meant is that once the discovery deadline (8/1) arrives JPM will request a forbearance. Since the only possible rationale would be to continue settlement discussions, it is unlikely that WMI will grant a forbearance unless settlement has been agreed in principle (i.e., key terms). This is the end game because of the discovery deadline, so talks this weekend will be intense.
By the way, none of these conversations will stop JPM from trying to appeal, but WMI's lawyers wouldn't expect otherwise."

I interpret this as WMI had the power to grant or deny JPM a forbearance. Since we know now that WMI did, it had to benefit them.

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_W/threadview?bn=86316&tid=200206&mid=200363