Replies to post #184385 on Mr Cooper Group Inc (COOP)

[ub2]

And then there is Cross! It is our turn ya know

[Reptile]

Maybe not but they should hear testimony on valuation...the DC Court can deal with the fraudulent conveyance, actual fraud and business tort issues, which could be sizable too if properly pursued.

[hestheman]

Your post makes sense, but even if there is no fraudulent conveyance, when Solomen releases his numbers it will be obvious WMB was grossly underpaid for. Furthermore, it is common knowlege the FDIC cannot seize a holding company...Venable will push that issue. Who knows how many tens of billions the shareholders will see from the assets/value there. That is why the debtors want us out, so they can reorganize and seek the return of the assets of the holding company. It all makes perfect sense when you think on it. That is why Rosen is so hell bent on making sure A<L even if it means giving tax returns/NOLs to JPM or the FDIC. They ultimately want the value of the holding company.

[hestheman]

P.S. More thoughts on fraudulent conveyance: When Weil first motioned for discovery....fraudulent conveyance is what they were trying to prove. The EC has now been given the power to intervene and guess what....the EC also has the authority to push for further discovery as well. The EC is on equal footing with Weil/Rosen. JPM has already admitted in court that at no time before or during the FDIC's seizure of wamu, was wamu insolvent. While it is true, we will not see anyone have criminal charges pressed against them in BK court, criminal deeds can be uncovered in BK court and as a result, the Judge can rule that fair value be paid for the assets (using Solomen's valuation) in fact, the BK judge has the power to unwind the whole sham of a deal if she wanted. From there if shareholders wanted....they could pursue criminal charges in a trial against those involved...using the info released in BK court, if they so desired.