that's exactly what i wrote, so not sure how your PE says anything different, but ok, let's go with it.
uhlmant, the only thing I disagree with you is the a>L under the cancellation part, they won't know that right now, and if they did, why put that statement in there that once everything is paid out, we get ours.
i guess my question for most is still out there, did you think you were going to get paid before the creditors and the C/Ts? If so, then you really didn't do any DD when you bought in, because that would never have happened.