[mlyle]

> And the balance sheet as liquidity skewed as it is is healthy, I would be extremely surprised if they get less than 95% back.

The big question is how much of the "run" has been paid, or will have to be paid at 100% because of transactions initiated before receivership. I also think 95% is a little bit optimistic from the get-go.

> They have been pretty clear that they want to do this.

An unspecified dividend at an unspecified time sometime next week is better than nothing, but it's still pretty toxic.