Replies to post #119347 on Mr Cooper Group Inc (COOP)

[Rumble]

WMI won't come out of bankruptcy until they are ready. As long as there are still assets to be determined who is the owner, and L>A then they'll stay right there. Receiving the $4B as it is already listed on their books won't change a thing, it will just move it to an account that they control, and get it out of the hands of the enemy! And that's a good thing.

I do believe that WMI will put together their bankruptcy exit plan after they receive the $4B, but that doesn't mean they come out immediately. The plan will be a beginning point of negotiating with all parties, JPM included.

[diamondguru-one]

the $4 billion dollars has "NOTHING" i mean "NOTHING" to do about WAMU getting out of BK..They "DONT" need "ONE DIME" of that money to get out of BK.....$4 BILLION DOLLARS is the NAIL in the COFFIN Mr SPIN.....that "IS" all the "PROOF" they need for "FRAUD","WRONG DOINGS",ECT...." !!!! why do you think the GREAT JUDGE is taking so long to rule ????? THE GREAT JUDGE KNOWS !!!!! WAMU's TEAM KNOWS !!! its "END GAME" when the ruling comes down......IMHO the GREAT JUDGE and WAMU gave the CROOKS time to anty up......watch closely....will see who right in the END GAME !!!! GOT MY TICKETS !!! "YOU" ???? Gooo WAMU

[cents2ks]

Do you think they would exit BK, and wipe us clean, with all the litigation still pending?

If they did this and then later prevailed in court winning substantial damages...
...Do you NOT think the shareholders would have a MASSIVE tort against WMI for hanging them out to dry before the litigation was final?

NO WAY! Weil knows this would be suicide for WMI and HIMSELF.

[climberprof]

Johnny

Look at the previous posts. It has been discussed here before many times, if As>Ls then and WMI comes out of BK, they cannot simply cancel the shares. Some claimed on this board that that against the law.

Now, are you claiming that it is not?

I hope some legal minds can clarify this. As an engineer, this does not make sense to me to cancel the commons if As>Ls.

Best
Climber


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Actually, receiving summary judgement on the $4 billion very well could bring WMI out of bankruptcy, but it wouldn't be the way shareholders would like them to come out of bankruptcy. If they revalue their assets in such a way that makes As>Ls and the creditors approve a plan, then it very well could be game over for the shareholders.