Hertz Global Holdings is weighing a plan to offer shareholders equity, according to a plan filed Wednesday. If approved by the U.S. Bankruptcy Court, current stockholders would receive warrants to purchase up to 4% of the restructured business, amounting to a recovery of 60 to 70 cents a share.

Hertz had insisted as recently as last week that its equity was worthless. Because the company would then have surplus of value left over for stockholders, the outcome would make Hertz a relative rarity in corporate bankruptcy, according to the Wall Street Journal.

The plan is part of a restructuring proposal put forth earlier this month from Dundon Capital Partners LLC, Centerbridge Partners LP and Warburg Pincus LLC. Hertz also has on the table a bid from Knighthead Capital Management and Certares Management that values the company at $6.2 billion versus the Centerbridge valuation of %5.5 billion.

Hertz can now begin the process of getting final creditor approval for the Centerbridge plan. Hertz would still be allowed to accept the Knighthead plan, though it would owe Centerbridge a $70 million break up fee.