Washington Mutual Preferred fka WAMPQ

[kirby96]

While that is definitely a theoretical possibility, the whole purpose of a bankruptcy court is to ensure value is maximized to the benefit of all creditors. In theory, the most senior creditors just want to get this over with: if they are owed a billion, they would be willing to accept a billion dollar recovery even if the estate is worth 10 billion because it gets them their money back and to hell with anyone else.

You just have to be confident the EC and judge agree there is more value, and ensure it is realized to the benefit of the lower classes.