Quote:
Originally Posted by Hylton
That's assuming that creditors will accept the entitiy to remain as knowing certain liabilities will be off the table. Not going to happen. If someone owed me a lot of money and had more assets than cash to pay me back, I would not settle for anything less than Ch 11. Why? Because I want everything on the table when discussing how I am going to be compensated. If I have to take a haircut, I want to be sure everyone takes a haircut.
|
Last I heard that's what they were trying to due, but the catch is the money isn't liquid so to get the money you get a loan or you sell of parts of the company and once that starts selling then you loose a lot more then just some assets. You need people to buy product and invest and no one at this time wants to own or buy from company that is on the edge of failing.