CDrucker,
As wall_street likes to say, "It's about as clear as mud." Yes the verbiage is there, but some of it deliberately seems to obfuscate and confuse the situation.
I think that most of us see the Equity Scenario in one of two ways:
(1) The LTW formula for conversion is used, meaning that we basically dilute commons into "effective oblivion," since we need a value of $337 Million, but only have a $50+ million pot to claim from.
(2) We are treated as 50% of the 30% that commons get. In this scenario, we get 50% of the 54 million (or so) and that is divided among 113 Million LTWs.
Again, I think that reading Nietzsche might be easier than reading the obfuscating, arabesque, labyrinthine mess of a POR when deciding the value of the LTWs.
Of course, if we are classified as a Claim (Class 12), then our lives are collectively much, much easier. We just split the $337 amongst 113 or so million LTWs and we're done.
Best,
Jared
