Replies to post #240847 on Mr Cooper Group Inc (COOP)

[FORTY-8]

To steel58: The DS need only provide "adequate information".

“Adequate information” is defined under 11 U.S.C. Sec. 1125(a)(1) as “information of a kind, and in sufficient detail, as far is reasonably practicable in light of the nature and history of the debtor and the condition of the debtor’s books and records, that would enable a hypothetical reasonable investor typical of holders of claims or interest of the relevant class to make an informed judgment about the plan, but adequate information need not include such information about any other possible or proposed plan.”
http://delawarebankruptcy.foxrothschild....

It appears to me that under the current POR equity is not a relevant class. The relevant classes (bondholder, noteholders, and creditorss) likely have enough information in the DS. However, with SUBSEQUENT I valuation hearings (on the PLAN) equity will become a relevant class and at that point the debtors, with their plan, would likely be excused.