You said "Ct's are being paid divis but all go to senior classes"...while it is true we are not receiving recovery through the liquidation phase (our payment is reallocated) the actual terms of our prospectus/contract including face value of shares, quarterly dividends etc, are not being reallocated. Basically, what I am saying is it is not as if Lehman can say "Okay, we paid senior creditors your face value of CT's plus all past dividends and accrued interest" so you are now recovered/satisfied" LOL. Contract terms of creditors nor equity can be reallocated in a bankruptcy.
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