jimmijazz - I came across this: "And given that this colluding majority of Note holders have testified before the Court that they represent one of the largest shareholders of the company, we find it hard to reconcile how the cost basis of their equity position is not equal to, if not greater than, the face value on the 9.375% Senior Unsecured Notes they own." written by Justin Fine in 2012.

It would seem likely that he could easily explain this better to you. I remember reading it in the court documents but as you will know trawling through those is not fun.