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iStar Financial Inc. Message Board

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  • foreverwhiteroses foreverwhiteroses Mar 5, 2009 6:01 PM Flag

    preferred versus common

    For whatever it's worth, I agree on value recovery for preferreds in BK. The only possible scenario of zero value in BK would be a liquidation and, even then, the stated book value leads one to think there'd be something for payment to preferreds. And, I would think if you rank the possible BK scenarios (if, for the moment, you consider that as a possibility - I don't, for now) liquidation would be the last possibility... Restructuring would pay to the preferreds imho.