You NOOBS are killin me.
THIS IS NOT A STANDARD CHAPTER 11 BK.
No restructure
No deals with creditors and banks
WC, a hedge fund, first bought 119,000,000 common shares on the open market in attempt to gain control of the board of directors voting power. Thru court approvals, they got the approval to BUY soupq.
Hagan said it best in the PR today, "were selling soup, were gonna sell even more"
There is no restructure here, just Gallant using the Soup recipes, pr, fame and executive know how, in making a company better and stronger than before