Replies to post #296528 on Mr Cooper Group Inc (COOP)

[Chiron]

I still think there is a bigger long term plan here, paralleled to what I believe the Hedgies intended in the first place; sell the shell off for billions to an entity that wants the NOL tax breaks. Value comes to commons and preferreds through that route.

Even if we had the right to sue JPM/FDIC, we saw how great that went in 2009. They blocked us at every step of the way. They are 'To Big To Sue' in that it would take years & years.

I say take the company, get the hell out of Walrath's 'courtroom' which is more like a circus act, and sell off the shell for a few billion to an outside entity. Maybe go after the third parties as well to squeeze some cash out of them.

[etzetrade]

Questions, if NEW debtors (i.e. new BOD) doesn't take $4B (our money) from JPM as BR did. should we have to give JPM+FDIC any release?

Also, I don't understand why we need JPM and FDIC's approval in order to emerge out of BK? Actually, they have nothing to do with WMI2, isn't it? They are outsider of WMI2.

Appreciate your comments, TIA

[Nightdaytrader]

Mordicai, MarybobH says that even thought Debtors released JPM and the FDIC, the EC did not... So the EC will be able to pursue claims against JPM and the FDIC.... That makes sense to me... Otherwise, why would we have a $30M dollar litigation fund? It must be so we can go after JPM and the FDIC... Please see her messages below.. I've also copied links...

Any thoughts on what Mary's opinion?

ND9

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#1 From MaryBobH:

Simply put, the debtors are not able to release JPM and the FDIC from the claims of equity. They attempted to put that wording into the first GSA and the court objected. The revised GSA provides a release by the debtors and their related persons but not by equity.

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_W/threadview?bn=86316&tid=751997&mid=752072

#2 From MaryBobH:

Rosen's statement is strictly true. Any claims settled by the debtors cannot be pursued by the LT. However, the debtors did not settle equity's claims...and equity is (apparently) who will own and operate the LT.

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_W/threadview?bn=86316&tid=751997&mid=752164