Replies to post #343933 on Mr Cooper Group Inc fka COOP

[Desperado90]

Catz, Most times I agree with you on your analysis on the previous plan modifications being solidified.

Here's where we differ.

During the previous plan modification, we had not had the IT issue tried. We have the SNHs by the balls. Why let go?

The previous plan gives WMB bondholders $350M which is clearly an issue of piercing the corporate veil.

For them to use 2 weeks to resolve all these issues to me sounds almost impossible. The creditors want their money and all other issues would be dumped into the litigation trust controlled by the EC.

I agree that we will get the NewCo and just surviving alone would be a great victory but it's either full scale battle to settle the IT charges or they settle in mediation. If you remember the SNH claim also includes senior bonds and notes not counting the gains from trading.

IMO, Creditors get their dough and everything is thrown into the litigation trust so we can head out of BK.

[mypenneys]

Thanks for thank post WithCatz very interesting. And that is EXACTLY what the SNHs tried to pull off (K-mart) -- time and money are not an issue for so-called 'sophisticated investors' who were perfectly happy to keep the 'NewCo' to less than 300 investors, so as not to have to report what was going on after exiting bankruptcy. NOW THEY HAVE BEEN CAUGHT AT WHAT THEY DO BEST. STEAL