It was collected, or rather, they collected as much as they could of it. They weren't bid on by most because the company generally elected to collect its own A/R and not pay fees on it.
If A/.R + inventory could take care of creditors that is what would have happened.
The owners of the future operating company is the group now operating the purchased assets.
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.