It depends on the settlement. If there is any payout for the common shares, the prospectus says that the WAMPQ (series R preferred) are entitled to $1,000 per share. If the settlement does not offer anything for the commons we would get whatever money is deemed available for distribution in equal percentages to the WAMKQ shares (like each would get X% of the liquidation value) as the bottom tier in the waterfall payout schedule. Of course there is always to possibility that the settlement offer would not include anything for the preferred, but in that case I don't see how the equity committee would agree to that. I am expecting maybe 50%, so $500 per share offered in a settlement. Most people here believe that we will get the full face value at a minimum, with the possibility of more. Many people think we will swap into some JPM preferred stock which would be nice also!
