Ted- TSA would neva-eva put up with a BK from a prime contractor. In a restructure, they would still flip the contracts to some other entity. Trust me, DM knows all about this.
While you still refuse to accept that DM is aligned with LONGs, you have to. That's the way it is until a price-line per share is drawn in the sand.
A seperation could occur based on SP distribution amount. THAT would be where some shareholders would NOT align with DM. ( dist= left over after cash debt paid, non-converted debt paid, CIC paid, all options taken are issued).
DM could accept $1.15/ share and remaining debt paid in cash. Some shareholders might not agree that is a fair price. BUT it gets tricky for DM as they get near the 50% Plus 1 share level with their converts...if they don't convert enough, they don't slam the vote.
Where DM could un-align with mgt. is the $1.4 level-- they could say YES to a $1.39/sh offer, convert all convertible to shares. This would screw mgt. out of the "$1.40" options.
Of course I want mgt. to gain its "$1.40"options and so does DM. Do you get that? THAT is alignment.