Because holders of the H's, in 2M face or more, get to also buy the shares in the reorganized company (after equity is stripped)
They would easily take 73% of current, PLUS, the residuals (windfall) of the reorganized company.
Can you say K-Mart?
.... Please, just call me Catz ;) - - - - - {and the requisite, all IMHO, do your own due diligence, and make your own investments}