No, it hasn't. Its just the bottom of the barrel, TRYING to change the plan. They will fail. Nobody owes equity anything. Not JCPNQ, not bidders, nobody.
That's why the plan stands. Its undisputed in the realm of reality. Only fantasy says otherwise. Which is just simply a long line of failures.
Shareholders are in the plan, and they dont survive.
J. C. Penney filed for bankruptcy and its restructuring support agreement includes no recovery for shareholders.