You have totally took out of context what I said in my post. Read again - I said the commons were worth about $ 7.65 a share according to the MOR and so just how did you get that I said they were worth nothing?
The value that WMI's lawyers have listed for common equity on the MOR is about $ 7.65 a share.
Even if WMI is awarded a total of 50 billion by the end of all the lawsuits - will WMI be liable for more than the listed $ 7.65 a share on the MOR if they do not convert to a Chapter 7 liquidation?
I am just looking at the facts and figures that we have now - not what may be in the future.
If WMI reorganizes and emerges from bankruptcy will they be obligated under law to pay more than the $ 7.65 a share to the commons?
At the end of the day will the common shareholders - if they so wish - have to argue in court against WMI for a higher restitution than the $ 7.65 a share?
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