I found this board yesterday looking for something to throw my money at. Of course I don't do this blindly, so I did a little DD and have yet to find hard numbers that support any value of the common stock. From what I read, I am totally with you that the commons will stay intact, however, what will be left of the company after the BK doesn't seem to be of any substantial value. And this value is what will ultimately drive the share price.
˙looɔ ɐpuıʞ sı uosɐəɹ ou ɹoɟ əɹnʇɐuƃıs əɥʇ uı ʇxəʇ uʍop əpısdn ƃuıʇʇnd