Replies to post #131606 on Mr Cooper Group Inc fka COOP

[Jestiron]

Can you elaborate on exactly what you mean here?

You say that Ps and Ks are a mixed bag? The Caymans were converted into OTHER series of preferred and are not in the "bag" with Ps and Ks. My understanding is that they WOULD have priority over commons but not over PQs or KQs.

And PQs and KQs are both considered equity...which is why they would have representation under the Equity Committee aegis.

I think you are suggesting something else. Yes?

AJest

[linda1]

As long as the P's and K's were WMI shares then it doesn't matter that they are a mixed bag of many classes of shares.


WMI's lawyer made it very clear in the last hearing that there are 7.5 billion of preferreds that get paid before commons.