My understanding is the money goes in the following order:
1) DIP
2) Secured Creditors
3) Unsecured creditors/Senior or Class A notes
5) Preferred Shares
6) Common Shares
The largest secured creditor is JP Morgan at $332,168,432.90.
The largest unsecured w/7% senior notes is WILMINGTON TRUST at $87,823,175.36
The $100 million in Docket#581 to JP Morgan I thought was related to the DIP but perhaps it satisfies the $332 million.
No preferred shares.
The Zarvona sale documents say "Free and clear of any liens, etc,etc" Zarvona didn't take any debts as far as i can see.
I am guessing that no one is negotiating on behalf of us commons. Maybe the Wilks Bros have someone trying to get something for their common shares that were traded from senior notes. Imagine trading senior notes worth $130 million for commons and then the company goes BK. They gotta be pissed at whoever sold them on that deal. I was really thinking there would be something left for us but at this point its a total toss up....
