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Thursday, March 22, 2018 10:41:03 AM
If LBHI is insolvent, cannot pay the debts, LBHI rights and interests will be ended in the restructuring and LBHI creditors, such as the CTs, ECAP, will have the ownership of the newly reorganized company. Here, with the huge NOL, the CTs, ECAPs, and OBS will have the ownership of the newly reorganized company. The Court, Not JOE STOCK, is ultimately responsible for determining whether the reorganization complies with the bankruptcy law.
This Chapter 11 results the reorganization of LBHI business, assets and debts.
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