Globetel does not have to file bankruptcy unless thay want to try to make a clean break from the creditors. As far as I know, none of the debt of Globetel is guaranteed by anyone connected with the company, so they can just shut the doors and let the creditors fight amongst themselves over non-existant assets.. If they wait one year after transferring the corporate assets (Centerline, Money Magic, et al) they have a slight chance of getting away with the transfers. In any event, this is a dead duck. One of the business pundits will no doubt comment on the demise of the paradigm shift in communications and the whole episode will be just another money-losing turn at the tables. Live and try to remember not to repeat this mistake. Just my opinion.
But where are the shareholders' yachts? The past portends the future.
