According to this: “The escrow CUSIP number shall only represent the right of such holder to receive potential future distributions under the Plan on account of the old or cancelled securities.” KEY WORDS: “the right of such holder to receive potential future distributions under the Plan” Note the term: “under the Plan” Which never meant: What the underlying “old or cancelled security” used to be able to receive before the bankruptcy and the approval of POR 7 aka “the Plan”
So, “under the Plan” means 75/25 Class 19 Preferred/Class 22 Commons, because that is what “the Plan” states in the Terms and Conditions.