I am not certain what is so difficult in understanding that all stakeholders aren't treated the same - secured creditors come first and in this case the DIP lender is the only Creditor that will be fully repaid.
There is a hierarchy that must be followed when repaying the
Therefore by definition the common shareholders will be impaired.
By impaired that means the common shares will be cancelled.
Why would you think that the secured and unsecured creditors will be impaired but the Common shareholders will remain intact? That is truly a pinkyland fantasy.
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