AZ -- I'm missing something.
If there's nothing left to distribute, then how does it continue to Equity?
And if there's any potential remaining, but PIERS are not yet paid in full, how are they going to be 'closed out' (unfulfilled) and yet another class, lower in priority of waterfall, start to get paid?
Isn't it either that Cash/RONs are sufficient to pay off PIERS and close that class, or not? And if not sufficient, how does former equity get paid anything?
...Catz
.... Please, just call me Catz ;) - - - - - {and the requisite, all IMHO, do your own due diligence, and make your own investments}
