At this point, with creditors stuck holding the bag, or facing a 60% haircut, Twitter is effectively owned by the banks. That is, nobody expects the banks to ge

At this point, with creditors stuck holding the bag, or facing a 60% haircut, Twitter is effectively owned by the banks. That is, nobody expects the banks to get the principal back, even if the equity holders get zero. This will not come to a head until Twitter misses an interest payment. At that point Twitter can be pushed into bankruptcy or recapitalization. The banks will want a way out ASAP.