Well, imo only, if preferreds get the liquidating trust via APR, then I believe that there is some substantial money that preferreds can recover (before commons/dimeq up to $1,000 face value) because most of the creditors are already paid off, with the exception of PIERS (which is capped at $250 m ?) and sub claims. Next in line is preferreds, but the DS has the Liquidating Trust shared equally with commons (and now Dimeq).
Lets see what TPS can extract as far as 70/30 and Liquidating Trust. After all, EC did give the shaft to Preferreds and they know it as evidenced by the verbiage of the 70/30 split is not set in stone.
Preferreds can only benefit from riding the coat tails of TPS.
S&G will have a sizable war chest for litigation. Must need it if there is a target(s).
Strictly my opinion.
