On the website of Muffy:

MFN submits long-term business plan to banks and the Creditor Committee
...late november,2002

well well, things do seem to clear up. It seems fair to assume that in the next few weeks we will know the fate of Muffy:

1. new company with dilution for the commons upto 5-10% or so of the newco.
2. new company with nothing for commons
3. final bankruptcy where it all ends without glory.

What will it be? Any idea's, comments on this?
I will opt for NO.1 as ordinary common....