Replies to post #230451 on Mr Cooper Group Inc fka COOP

[lockednready]

You are correct if you're only reading it in black or white...that's why it's in court for us to get them to read between the lines...lol

[swooop]

Then why is it not a done deal already ? I`m shure JPIG was eager to put it to bed long ago, the fdic is holding a trump card till the end.It will be postponed again untill all party`s sihn off including EC and exam.

[Jestiron]

Assuming your position is correct, what would your explanation be for extending the "Final" Settlement Date? If there were to be no changes to the P&A then there should be no reason to continue to extend the "FINAL" settlement date. I posted my thoughts on the inclusion of this word in a previous post.

Seems to me, and others on this board, that the extensions are being made because the FDIC wishes do extend THE RIGHT to change the P&A in the event that JPM or some other party (including the EC) decides to make waves.

The right to make modifications seems to be the ONLY reason why they would need to change and extend the settlement date...called the FINAL settlement date in the amendment.

Alignment with the POR confirmation date supports this argument.

The right to make modifications up until the "FINAL SETTLEMENT DATE".

The FDIC, "in its discretion" HAS DECIDED to extend the FINAL SETTLEMENT DATE.

What other reason would there be to extend the date if the contents and agreements are to remain as-is as you content they will.

What other reason? You are quite good at telling us what you think will not change... What other reason would there be for extending?

Thanks in Advance.

-Jest

[XOM]

Johnny, really?

You're right, they took a form and gutted the sections they didn't want. They removed the concept of having to settle up certain prices post-closing.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53396055

I never said this, and shame on you for implying that the WaMu P&A was removed of post-acquisition settlement procedures!

As for "cherry-picking" provisions, how is this taken out of context?


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53434479

While on the topic of cherry-picking, perhaps you missed this passage from the link provided in your last post:

Section 11(e) of the FDI Act permits the FDIC as receiver to repudiate or disaffirm any of the failed institution's contracts. However, subsection (e)(12) provides that the FDIC is not permitted to avoid any legally enforceable or perfected security interest in any of the institution's assets, so long as the interest was not taken in contemplation of the institution's insolvency or with the intent to hinder, delay or defraud the institution or its creditors.

The avoidance powers of the BK Court trumps FIRREA. Enough said.

Last, posters don't need to confirm legitimacy on this Board by referencing their first post - only back up claims with proper DD.

Numbers don't lie.