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trader59

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Re: HymanMinsky post# 64061

Wednesday, 03/06/2019 12:21:08 PM

Wednesday, March 06, 2019 12:21:08 PM

Post# of 146778
The "restructuring" into a company with over $80M of debt and no operating assets to produce revenue and make payments is quite complete. The proceeds from the sale ($4.34M), the sale of inventory, and the accounts receivable will pay for the monitor's valuable time, the DIP loan, with some left over for the secured creditors (not nearly enough). The judge will then "restructure" the company into oblivion after discharging the remaining debt and equity (shares).
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