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wirelessman77

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wirelessman77

Re: CJ12 post# 1996

Saturday, 03/25/2017 10:17:58 PM

Saturday, March 25, 2017 10:17:58 PM

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I don't think it was ever given any consideration at all considering the valuation done on the business.

$34M in cash straight to the Debtors.

That left the following:

Debtors owed about $100M
Unsecured Creditors owed about $30M

They then valued the business between $4M and $5M and handed it to the debtors. Note the entire lot of 728 licenses was valued at $1M to $2M.
692 licenses are still subject to the remand of the bankruptcy court.

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