Well, I dont have enough prove to disagree with you. I guess your opinion is good as any for now. But, I can tell you from what tiny little that I know, in BK contracts dont just get void unless necessary. BK rules. In the case for CT, IMO AND IMHO for now until I confirm the class 10B and 12 are just classes to put thing in order. What does that mean?
CT is hybrid therefore the best fit is debt 10B. That does not mean the claim to 12 is gone. There is still a chance that they are 12 and 10B and the reason they are still trading is because of the debt. Good case in point is Lehman to this date still tells me they are 12...go figure..We just have to find out for sure..
Example: Does everything is class 12 just sit there like a stand alone island and untouchable? NO, even though they are class 12 they still follow the pecking order or otherwise if you say they dont, then if there is money left over after all the paybacks they get nothing....
My only issue is discharge. 12 will not get discharged. 10B can. IMO the perspectus still stands because the origination of our 4 stocks are exactly what it is Preferred Stock....I hope I am making sense...I am even confusing myself...go figure...devil
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