Catz .. I may have a solution
It appears there are a few different interests here regarding the piers and what they ultimately receive as a value distribution, spending money, RON's, in lieu of money, etc ..
Some folks want to receive funding, and some folks want the trust to move on to the next level, (IMO, lets' get to Tranche 6)
Since you are a participant in owning these securities, maybe it would be helpful if you share with the group your decision making process when you purchased class 16 securities ....
Was it any wording in the Plan of Reorganization?, the Securities Prospectus?, The Confirmation Order? that gave you a feeling of financial security moving forward with your purchase?
Was your decision based on the possibility of Absolute Priority? The 16's being a creditor class which potentially would be paid ahead of equity?
Then maybe the group would be in a position to review this information and find a determinative factor ..
Anyone else? .... also that holds these securities? all information regarding the reasoning for purchase would be helpful
It appears that a few of us are trying to decifer the valuations for a security that another group felt strongly enought to actually purchase
Otherwise, maybe we all wait until the May 1st distribution?
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