Replies to post #146298 on Mr Cooper Group Inc (COOP)

[MasterBlastr]

Settlement before trial . . .

[Dragynn]

Second. Going to get ugly round here. JMHO.

[wcheng]

advisement again?.. i thought she's been doing that for the past 8 months or whatever.. i can recall 2 hearings where she's given the indication she may make a move at any time.. once last June.. and last October. really though.. i hope she does rule.. the $4 bil is undoubtely WMI's.. and even if jpm/fdic does appeal after a favorable SJ.. at least the whole BK process will be further along. only reason why i can't see her ruling is that talks / negotiations are still lingering in the background.

[silicon valley au]

You may be right Chiron, but I would have thought that the senior members of our legal staff, Mordi and Bobfan, would have mentioned this possibility in earlier posts.

[warcton]

While I will agree with you that SJ's are rarely granted, I can not totally agree with you on this specific motion for SJ.

In the hearing where both parties presented their arguments to the SJ motion, WMI pointed out that JPM has not produced one shred of actual evidence that the $4bil belongs to JPM.

After 16 months JPM still has not produced any actual evidence or supporting facts to prove that their claim is valid.

From the recent WMI 8k:
Prior to the Petition Date, WMI and WMB jointly maintained their respective financial records. As a result of the Sale, many of the Debtors’ books and records were seized by the FDIC and transferred to the custody of JPMorgan. Accordingly, the Debtors are not in control of certain information relating to their operations and financial affairs, including, but not limited to, certain accounting information. In addition, as of the date of the Sale, substantially all of WMB’s employees became employees of JPMorgan. Accordingly, this Monthly Operating Report was prepared, in part, based upon the information and work product and/or representations made available to the Debtors and their professionals by representatives of WMB and JPMorgan.

JPM has had the "books", and basically all of WMB's employees this entire time(16 months)....and they still have not produced any evidence to back their claim.

I personally believe that once the FDIC motion is crushed, the SJ will be granted to WMI. If, for some unfathomable reason, the judge grants the FDIC their request, then the SJ will be postponed further or denied and sent to trial(non jury).

We will see on Friday.

[umaw]

Chiron,

With all due respect, didn't she "take it under advisement" months ago. Again, like you said, if she rules it's game over because she felt that there was overwhelming evidence to do so with not much gray area or grounds for appeal. Will be interesting indeed. Back to point, though. She just may rule because this issue has now had plenty of time for her to exam.

[JV44]

I don't believe it's that complex...no I don't...proving a deposit?...

[forestflanigan]

I cannot imagine why it would take a judge 4 months to decide on a trial versus SJ which I can understand the time that would take.

[Jestiron]

If that was the case, why wait to announce it? IMO The Doreen Logan deposition is enough to get a VERY clean answer for SJ. Unless you are suggesting that she will send it to trial as a means to delay ruling on it?

-AJest

"On the whole, it is patience which makes the final difference between those who succeed or fail in all things. All the greatest people have it in an infinite degree, and among the less, the patient weak ones always conquer the impatient strong." - John Ruskin (1819-1900)

[wamuvoodoo]

did you forget mary walrath stated she will rule on the 4.4 billion.....

[floydborga]

sounds like you sold, flipper...lol

[fixedops]

I agree that the 4B is a huge issue BUT I dont see it being all that complex. JPM has not offered much evidence at all. I think WMI has great evidence that shows its theirs.
Having said that I do agree she probably wont rule on SJ but I think she will rule on the automatic stay...