Not correct mags34 - or at least not necessarily correct.
Until a couple of higher level BK classes are paid off, or otherwise litigated out from in front of the old equity shareholders (P's K's, and Us') - the escrow shares will not return any value back to those who hold them. They are zero-value spaceholders - indicating our position (I once held K's and U's and a token number of H's = PIERS) in the line to get paid.
Part of the PIERS holders have already been paid off. The remainder of the PIERS holders are next in line to get paid off.
Once that group is cleared out & paid off - there are a set of large unsecured claims that are ahead of the former equity holders to get paid. Some of these guys will settle for a fraction of what they claim to be owed - others will drag it out for a while longer - in the end - there is likely enough money to pay these guys out as they settle and move on.
Once that is done - the escrow shares for P's, K's and U's are next at the feeding trough.
So - the escrow shares themselves will (theoretically anyway) always themselves remain 'zero' value, and cannot be traded or easily sold/transferred to others. However - they are markers against any money that makes it to the end of the line.
AND - one thing that was agreed to on exit from BK - the old preferred shares (P's and K's) are no longer ahead of the old common shares (U's) - and both are paid out at the same time in a manner prorated so that 75% of all money gets split among the old Preferred holders, and 25% of the money gets split among the old Common holders.
Cash should flow from those escrow shares - once these requirements are met - but they themselves will never have any sale value.
That answer your questions - if in a long-winded way?
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