RE:RE:Finally some good info.Rad10, any rioting is already over, since the deal -- for better or worse -- is already done. There would have been no court filing if that were not the case.
Most of the unsecured noteholders paid single or low double digit cents on the dollar for their notes. They make a killing even if, as a group, they get significantly less than 75% of the equity. There is no reason why they should get anything close to the full face value of their notes. In an insolvency they would be no better off than the common equity.
Kupinsky is a scoundrel. It is unclear to me why the company tolerates his continued presence. Oberman is somewhat of an unknown. No doubt that he was shell-shocked by the need for another $1B or so in write-downs immediately after his arrival. I doubt that they told him about that, or he would never have accepted options at $3.82. You cannot blame him for not buying stock.
But you are right. This whole thing is a gamble.