jmo, but bigbake is on the right trail. The only lenders that stand to recoup their losses are the bank and maybe a couple of other creditors, like the ford dealership that have purchase money security interest.
The others don't want the company to go bk, because they will be wiped out. Or in the case of the coverts, left with converts in a shell corp., whose primary subsidiary was liquidated. As a shell, the converts can't convert until they find another company to reverse merge and file a S1.
The real creditor that shareholders need to watch is the bank, as they can pull the plug on the whole thing and they are requesting a receiver. That's not good news.
