RE: Bottoming Out Nobody should care about the common shares, they'll get diluted into oblivion best case scenario.
How do you arrive at this $6 price tag for prefs, what's the math to back this up.
First the assets would have to be sold, what's the market value of the assets. If its way more than all senior secured and unsecured debt, salary and pension liabilities, then there might be a chance of getting some crumbs.
In my experience usually prefs go to 0 in a CCAA situation.