Replies to post #186300 on Mr Cooper Group Inc fka COOP

[David West]

XOM -

To all who read these words -

I personally do not care if the Equity Committee (EC) has to spend every cent of every asset owned by WMI to determine the value of WMI and to protect equity. In the end, if WMI cannot pay anyone because the EC used up all of the value of WMI, and WMI, along with equity, dissolves into dust, so be it! Even then, I would not consider the conduct of the EC to be out of line. At least the EC will have fulfilled its fiduciary responsibility to equity in the process, which is more than WMI can say toward us. If the EC does not conduct themselves this tenaciously, we have lost all anyway. IMO EOM

[Jestiron]

That was VERY nicely written! Thanks for posting it!

-Jest

[fsshon]

XOM: Was there not any other high profile bankruptcy firm available at the time? The fact that the Board signed off on Weil retainment even though a conlict of interest existed, is a clear indication they were not looking out for equity. This should be brought up by the new EC attorney's. EC needs to move for removal and no payment of fees. Carlinsky has a point there, Weil does not have the best interests of the shareholders in mind when they are litigating for the creditors. Interesting that we are seeing this now.. Right after the POS .POR was posted and shareholders got hammered on March 12th.

WMI's Board of Directors apparently signed a waiver of this CoI upon retaining Weil