RPS, a quick response, I can do the math and many of the roads, for example remaining senior pref converted to common, lead to massive dilution of common. In contrast, the face value of the pref is a fixed number, if the companies are back to going concern they owe me the contracted face value of my pref. That remains even if RnR goes tits up.
So, thank you for your concern, but the preffered offers me more safety than common.
On the JPS, the case in Lamberth's court looks like a roadblock to any capital raise, right? So how to resolve that case? I think Bradford mentioned in an early post here that conversion is one settlement option...
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