Thursday, May 26, 2011 3:45:33 PM
For the amount of money here I would think somebody knows a lawyer and would spend some time checking out the priority of claim doctrine!
Anybody AWAKE on this board to realize case history compells compliance with established case rulings.
Full face value for preferred shares before any common get a single penny. Maybe all of this is moot as the funds in the residual will more then justify the allocation but the principal of the law tell everybody with a brain that the preferred are 100% value with the common amount of the residual anticipated as being worthwhile to allow such a deal.
So all the conservative investors should bank money in the preserve as they will rise much higher as somebody will research this matter and report that preferred are 100% and commun is a guess right now.
Once the preferred rise to 50% value then common will be looked upon as a better multiple gainer but regardless of the trading practices the knowledge of full face value for preferred will be exhautively researched by the money investors and positions will be taken there first before in the common.
Go get your legal advice from case history regarding bankruptcy and stop using your imagination! No new legal history, just a novel application of known laws to the situation.
Legal knowledge will give you confidence to invest so go get it and take the easy money before others get it.
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