I agree 100%!!!!!!!!!!
I will speak for LG as well as myself along those lines.
We both for several years SUSPECTED the 75/25% could be for the BK ONLY PERIOD and that AZ may very well be correct!!!!!!!!!!!!!!!!!!!
But after the company came out in 2012 and STATED in an 8k that BOTH were now considered equity and they would be paid IF IF IF there was anything left @ 75/25% it made no sense to us anymore.
Especially when one considers that the DIPS were buying preferds hand over fist and were caught doing it illegally and PUNISHED, APR was to mean preferds GOT IT ALL!!!!!!!!!! But that changed, now why would a JUDGE put into force a rule that would just be on again off again????????
The CONDITIONS and agreements SET FOR in the GSA and the POR are not just here today gone tomorrow type things imho, they are governing forces about how this will pay out and take place IN and OUT OF BK
OR at least they are in our views and IMHO as well as his