OK you are right. It seems the class B (so-called special LAC shares) are what gives Tenor control as they confer voting rights pari passu with commons but such that each % of LAC shares gives 1% of voting rights so if Tenor now have 88% of LAC shares they have 88% of voting rights. They can still convert these shares to commons and may do so for tax reasons. (Not sure why they call them LAC - usually means Latin America and Caribbean, maybe because of VZ?).

The LAC shares also get 0.001% of any distribution so we lose out again.

My guess for final payout to commons? More than 10 cents and less than 24 cents. Above 10 cents puts a bunch of warrants / options in the money, some held by Fung.