Ravensource would not be happy getting 30% of what rightfully belongs to them, either. Their announcement does not say they would. What the fund performance report to thier clients says is:

1.- The believe they are owed $300 for every $100 they invested in KRY,

2.- Although they believe this is the case, for performance projection purposes they are using a conservative assumption that they will get $200 for every $100 they invested.

When you do the numbers involved you realize the following:

1.- Ravensource invested $2.2 million in KRY and believes it should get $7.1. This includes the additional payments they were promised by KRY/Tenor for agreeing to sign the standstill.

2.- When you take the $2.2 million invensment and calculate its present value using the 9.875% interest on their KRY notes investment you get $5.0 million (the $200 for each $100). 

3.- When you include the standstill additional compensation you get $7.1 million (the $300 for each $100).

So, what Reavensource is saying is that their conservative projected recovery from KRY is $5.0 million (the $200 for each $100), which is their invenstment plus the contracted interest rate. However, they say they are owed 7.1 million (the $300 for each $100) based on the contractual agreements with KRY.

Ergo, they are not giving up any rights regarding their investment in KRY.

Nor am I.