The preferreds are capped at whatever value they had. Commons the sky is the limit.
However. There will be a deal reached, but it's doesn't have to be where all creditors are paid in full, and all preferreds get their full value.
The deal could be where everybody gets a percentage of what they are owed, but even though they are not fully satisfied, commons still get a slice.
With any luck there will be plenty to go around, and then commons will get the remainder...........z
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