We could or could not fall into "unsecured Creditors".
I would think the bondholders would want to be made whole before commons got 1%. That and the fact that the (2) people against this plan were shareholders have me concerned.
On the other hand if this was already figured out why would PPMIQ stay around .06. .06+ is better than getting nothing and it has been lower than .06 for a while before. Something is keeping it up.
The only thing I can think of is it is stuck @ .06 because that is the value when the new commons come out. So I don't see this going anywhere either up or down until then.
How long after the plan is approved does it usually take to cancel old and receive new commons?
Wish TruckAngler would put his thoughts into this.
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