Jersey...LOL, there is no quiji board involved but I think cotton has showed us there is potential for being paid, depending on what Judge Peck decides on the JPM issue (and after that $2 bil loss i'm sure JPM will be going after everything they can get their hands on that is'nt nailed down LOL). This is just ONE possibility in a whole realm of possibilities that could transpire. If that scenario took place, the reorganized company could then use preferreds to maximize NOLs rather than CTs because we will be paid in full and gone. If that happens, commons would most likely receive a small cut as well because they make up the equity pool along with preferreds...however preferreds would receive the majority slice of the 51 percent (absolute priority) and commons would probably receive such a miniscule amount it won't be worth that much to them anyhow....this is in order for them to preserve NOLs.
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