Box Ships Inc (TEUFF)

[temp luvs amy]

It's not a formal dissolution or liquidation (called BK), but the effective action is a mirror of it. The creditors got a portion of their money back, and all equity was lost. The business model was a failure. The officers got paid their salaries, perks, and parachutes, and moved on to new jobs. What remains is just a shell, with a seemingly unlikely receivable. BTW, the cheap money window is closing. Bond prices are dropping. If anybody wants to borrow money to buy ships, they better get it quick.