Replies to post #204026 on Mr Cooper Group Inc (COOP)

[moos-los]

Hey where are you ? THIS IS HUGE !

[court99]

The Trustee does not approve that kind of 'extorsion*': '(...)creditors within voting classes
will undoubtedly be unfairly discriminated against depending upon whether they gave a release.'

*my personal opinion

[fsshon]

Thanks Dan, You're Awesome Dude! There are two key problems with the Debtors’ proposal. First, soliciting a
“consensual” release and prosecuting a non-consensual, third party release are mutually exclusive
events.

Second, the “trap door” concept – if you don’t give a release, you lose your
distribution – is unduly coercive and effectively vitiates any proposed consent that may be obtained.
Further, the provision probably renders the plan unconfirmable, as creditors within voting classes
will undoubtedly be unfairly discriminated against depending upon whether they gave a release.

Hint you can't tell one party if they sign, they get released and paid and threaten the other with non-payment for no signature. IMO

That's Extortion and should be prosecuted. Didn't know you could legally use a BK court to perform these acts. We are not leaving in the USSR here.. We have a system of laws and regulations.

What Weil is essentialy doing would be illegal in any other forum. If THJMW allows Rosen to get away with this, she will set legal precedent that any company can shed their creditors by heading for Chap 11 and use the court to extort cooperation. ImMo WMB anything is not the responsiblity of the Hold Co. That is for THJMW to decide for us. Veil !!!

IMO: Rosen's plan in its current form is SUNK!