In a reorganization, the bondholders usually still get something, whereas the equity is wiped out. I want to see how the debt trades, to get an idea what bondholders are expecting to salvage here.
Yes, I thought that you had an opinion on what type of recovery the unsecured holders will see. At these prices you would be assuming about 15 percent, which seems optimistic to me, but I was hoping to hear an expert opinion.
