correct...all they wanted were the assets (including the IP) at bargain basement prices. They could care less about the creditors and even less about the existing shareholders. All they were going to bid was a sufficient amount to get the secured creditors to release their interest in the assets....and at that, the secureds took a haircut.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.