1)NO PROCEEDS FOR COMMONS NOT SURE! MANAGEMENT MUST "PROTECT" COMMONS FROM SPECULATION, CAUTIONING THEM THAT THEY COULD NOT RECEIVE NOTHING.
BUT THAT'S THE WORST SCENARIO, ALREADY INCLUDED IN PPS. INFACT PPS DISCOUNTS ONLY THE 25% OF THE REMAINING SHELL VALUE (1M $ THE TYPICAL MARKET CAP OF A CLEAN SHELL WITHOUT DEBT, TAX CREDIT ASSETS, PERHAPS IP, VERY LOW OS...OR .0625$, WHILE CURRENT MARKET CAP IS LESS THAN 250k $!!!)
2)NO PROCEEDS (FROM ASSETS LIQUIDATION OR ASSIGNMENT) FOR COMMONS DOESN'T MEAN NO LEFT VALUE IN EQUITY! CREDITORS ARE OWED THE ASSETS, NOT THE EQUITY AND THE RIGHTS OWED TO EQUITY HOLDERS. IF SHELL R/M, OWNERS OF EQUITY WILL BENEFICIATE, NOT CREDITORS ALREADY FULLY REPAID. ASSETS MAY OUTWEIGH LIABILITIES, THIS IS N0T A FIRE SALE, BUT AN ORDERLY WIND DOWN.