Ultimately we win whether its a complete split 75/25 to the end, or partial. I don't want to fight with either side over it. I haven't completely made up my mind, but I actually lean mostly towards 75/25% until the Preferreds reach FACE + interest, and then Commons Escrow markers take the rest.
I've been questioning that for a couple years, and cross checked with what I see in my Schwab account. And I have both Prefereds Escrow and Common Escrow. Schwab having an actual bonds trading desk, as opposed to many others who don't, has been interesting evidence for me.
There is a lot of evidence to support my beliefs, as there is the contrary. The architects of the plan were expert wordsmiths, and confusion was job 1. Who knows, but the 75/25 till the end, has never been true for me and what I've read.
The MB Pied Pipers, pushed Piers, Dimes, and lastly Prefereds. We know how Piers and Dimes ended up.....on that alone I distrusted these messengers and their interpretations, and it pushed me to look further.
Just before re-org, despite the push to switch to Preferreds, there was MASSIVE buying of Common UQs. I just felt that push to switch to preferreds was just another 2010 pump n dump, Piers dead end, and Dimes death trap. I stayed put at reorg in both P's and Uq's, and released them all as advised by our attorneys, as opposed to anonymous Message Board Pied Pipers.
The returns will be staggering either way it turns up, imo, for those who released.
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