The Plan states that the Equity Preferreds will receive $ 133 M of New Shares and the Equity Commons will receive $ 57 M of New Shares. The total is $ 190 M.
How much of the $ 190 M was to be owned by the Settlement Note holders? If all, and they are giving it up to Equity Interests as a gift for a settlement, then I don't think the APR will apply.