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iGrassHopper

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iGrassHopper

Re: pumper_stumper post# 38193

Thursday, 06/30/2016 8:35:43 PM

Thursday, June 30, 2016 8:35:43 PM

Post# of 47873
voluntary ch 11 reorganization as a strategic alternative



Company obtains debtor in possession financing from straw man. Company submits reorganization plan to the judge who then "forces" it's creditors to chose between pennies on the dollar or an ownership stake with new preferred class shares. Company continues to operate as debtor in possession then repays straw man loan and emerges from bankruptcy with zero debt or common shareholders.

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