Not according to the Courts thus far. Government has done no wrong. Well, they may have screwed up with regard to the Jr. Preferreds Contractual Rights. They'll have to clean that up before a Recap can occur.
Sadly, Commons have no Contract Rights. And if the En Banc rules in favor of the Gov, Commons likely won't have a seat anywhere near the table. They don't even have a seat at the table now, but if they lose Collins, they will be eating at another restaurant entirely!