So GERs expects to eliminate all its outstanding debt by settling with creditors for pennies on the dollar? I guess when you don't have any money, some is better than none in the eyes of creditors.
This has to be great for business moving forward! Just think, they can't pay their bills, so obviously they've got lucrative deals in the pipeline!
And now what do we see? More share conversion of inflated preferred shares to common issuance. Great for shareholders..