statsman, you are correct. After reading the anncmnt again,...

statsman, you are correct. After reading the anncmnt again, there is no dicussion of preferred stock. Just a rearrangement of debts over different terms and timeframe.

My mistake.

Then let me say my guess again of 20-30 cents of value may be not received in a hurry and will be without interest.

Still, the banks seem to need to deal with the noteholders, otherwise we lower the boom and wipe off their mgmt rights values if they screw us. And they will not want that at all I suspect, because the value over time of these rights in a recovering market could be quite substantial.