Humanigen Inc (HGENQ)

[ZenNavigator54]

With secure creditors like bondholders, they can seize assets of the company if you miss just one payment or break loan convenants ie . getting delisted from stock market, sales fall below revenues, this bankruptcy was voluntary by hgen controlling shareholder, it didnt' have to file for chapter 11 because there is nothing the unsecured creditors can do. the 3 million dollar payment was not a ' conviction' by the juror that the company was liable. HGENQ management settled and agreed to pay the company cash of 3 million to the lawsuit because it bought 'insurance' for $5 million. the company paid close to $500,000 in insurance premiums and got paid $5 million in insurance pay out.so it settled. 2 million for legal fees and 3 million to the .047share settlement on condition - legal fees.